New mansion being built adjacent to downtown Naperville (Chicago, Oak Park: sale, house)

[damba]

Originally Posted by Hiruko

I don't know why anyone would spend so much money constructing a house in Naperville. There is a substantial amount of price resistance above $1 million, but that goes from substantial to almost insurmountable over $2 million. In the last 12 months, not even one single-family home has sold in Naperville for $2 million or above.

For a self-professed ‘north shore’ boy, you are missing the obvious and hyper-focusing on RE gains/losses.

Truth is, there’s enough wealth and disposable income in some households that such a home would barely scratch a dent in some folks’ finances. This includes Naperville, not just the arguably ‘older’ money areas.

[chet everett]

Originally Posted by damba

For a self-professed ‘north shore’ boy, you are missing the obvious and hyper-focusing on RE gains/losses.

Truth is, there’s enough wealth and disposable income in some households that such a home would barely scratch a dent in some folks’ finances. This includes Naperville, not just the arguably ‘older’ money areas.

...choices really are rooted in biology -- it is not just that "rich people" are spending in more areas than once attracted most high end housing, its that even people of modest means increasingly direct large portions of their income toward housing (or other optional luxuries...) not so much as "maximization of utility / pleasure" but out of a kind "exhaustion of choice". It is very complex and multi-faceted way of viewing everything from the explosive growth of high priced fashion and electronics brands to the techniques that successful real estate agents often use when helping clients purchase "the right house".

https://www.theatlantic.com/business...hoices/267255/

My well informed guess is that whoever is building the home is doing so out as much out of frustration of what they've been living with in their existing homes as any ego driven desire to have something large & visible. Often when a family has dealt with trying to accommodate all the "stuff" that an active family accumulates they end up wanting so much "organization and storage" that the house plans grow to epic levels. Of course the other response to such things is a massive decision to "declutter" though that tends to happen when folks are facing a different stage of their life -- https://www.treehugger.com/cleaning-...ing-trend.html

[BIG CATS]

Originally Posted by Kmanshouse

Right adjacent to downtown and they can walk to all of its splendors anytime. Pretty choice location.

If I moved back to IL, that's where Id love to be again. Naperville is awesome! Metra access, great parks, awesome festivals/concerts, thriving downtown, swimming quarry, riverwalk, amazing shopping and dining. I mean, whats not to love?

[KerrTown]

Originally Posted by ChiGuy2.5

Wanna see the urban version of a ridiculous mansion? This house sits on 8 city lots.

https://chicago.curbed.com/2016/12/8...d-home-chicago

The only thing better than a new mansion built adjacent to Downtown Naperville? A new mansion built adjacent to The Loop. That mansion fits everything except age.

[It'sAutomatic]

Nothing like rich people with no taste and too much money to burn: Tear down hundred-year-old housing, build a ridiculous mansion, and sell at a loss after living there for six years and permanently changing the streetscape.

[Hiruko]

Originally Posted by It'sAutomatic

Nothing like rich people with no taste and too much money to burn: Tear down hundred-year-old housing, build a ridiculous mansion, and sell at a loss after living there for six years and permanently changing the streetscape.

I take it you dislike the 'teardown phenomenon?'

[It'sAutomatic]

Originally Posted by Hiruko

I take it you dislike the 'teardown phenomenon?'

I do, generally. I was specifically referring to this house, for which they tore down 3-4 historic apartment buildings worth over a million each, and the owner didn't even last ten years in the house:

https://www.dnainfo.com/chicago/2016...mansion-photos

[Hiruko]

Originally Posted by It'sAutomatic

I do, generally. I was specifically referring to this house, for which they tore down 3-4 historic apartment buildings worth over a million each, and the owner didn't even last ten years in the house:

https://www.dnainfo.com/chicago/2016...mansion-photos

That house does not appeal to me, but there are a lot of really nice newer properties on that stretch of North Burling Street, many of which are quite tastefully done. John Novak of Novak Construction's home at 1970 North Burling Street is quite spectacular.

[BIG CATS]

Originally Posted by It'sAutomatic

I do, generally. I was specifically referring to this house, for which they tore down 3-4 historic apartment buildings worth over a million each, and the owner didn't even last ten years in the house:

https://www.dnainfo.com/chicago/2016...mansion-photos

And guess what? At the time those apartments were built, they were probably frowned upon as well for blocking views and/or destroying nature.

[doodlemagic]

Originally Posted by BIG CATS

If I moved back to IL, that's where Id love to be again. Naperville is awesome! Metra access, great parks, awesome festivals/concerts, thriving downtown, swimming quarry, riverwalk, amazing shopping and dining. I mean, whats not to love?

Naperville has a lot going for it but everyplace has their draws. To me downsides of Naperville are traffic congestion, distance from Chicago, lack of interesting restaurants ie mom and pop places, hot dog stands, ethnic food, etc. Boring housing stock.

When I used to go to the bars downtown Naperville I'd see people from Tinley Park comming out, its awesome Naperville has a little downtown with tons of bars and nightlife packed into a small area, but it all depends on what someone is looking for.

Some may say riverwalk isn't interesting shops it's apple stores and eddie bauers. Metra access is great but so would being on a blue line 10 minutes from the city. Festivals and concerts Naperville is better than most burbs but not the city. Downtown is chain store commercialized and not interesting. Quarry is great but not lake michigan. Dining is pretty good but again Mongolian BBQ and Teds not interesting smaller places you can't get elsehwere.

I'm not digging on Naperville but what may be a draw to one person may not be to another.