North Shore Foreclosures and Deals (Chicago, Highland Park: sales, lenders, how much)

[Humboldt1]

Cohdane,

This thread is devoted to you.

What are others in the Highland Park/Lake Forest/Winnetka/Wilmette, etc. areas seeing with regards to homes selling and how much prices are discounted.

Cohdane provided this listing:

Please note over $50K property taxes. It originally listed in Jan 09 for $1.58MM.
260 Beech St HIGHLAND PARK, IL 60035

Price: $794,900

Beds: 6Baths: 5.5Sq. Ft.: - Lot Size: 0.5 Acres Property Typeetached Single Family, 2 StoriesStyle:ColonialYear Built:1993 Community:Highland Park County:Lake MLS#: 07113258Source:MREDStatus:Price ChangeOn Redfin:106 days
STUNNING 2 STORY COLONIAL WITH 6 SPACIOUS BEDROOMS, 5.1 BATH, FULL FINISHED BASEMENT WITH FAMILY ROOM AND RECREATION ROOM, 2 FIREPLACES, NICE YARD, 3 CAR GARAGE & MORE. AS IS. NO SURVEY OR DISCLOSURES PROVIDED, BUYER RESPONSIBLE FOR ANY AND ALL CITY INSPECTIONS, ESCROW ETC. IF REQUIRED. ALL SYSTEMS TESTS ARE AT THE BUYERS EXPENSE. ALL OFFERS MUST HAVE PRE APPROVAL AND MINIMUM 2% EARNEST MONEY IN CERTIFIED FUNDS
Master Bedroom

• Has Master Bath
• Size: 28X18
• On Main Level
• Hardwood Flooring

Bedroom #4

• Size: 17X12
• On 2nd Level
• Carpet Flooring

Family Room

• Size: 28X15
• On Lower Level
• Carpet Flooring

Additional Rooms

• Has Basement
• Full Basement
• Finished Basement

Additional Room #3

• Bonus Room
• Size: 17X12
• On 2nd Level
• Carpet Flooring

Additional Room #6

• Loft
• Size: 14X14
• On Main Level
• Other Flooring

Heating & Cooling

• Gas Heating
• Forced Air Heating
• Central Air Conditioning

Building Information

• Age: 11-25 Years
• Dryvit Type Exterior
• Stone Exterior

Property Information

• # of Rooms: 16
• Ownership: Fee Simple
• Parcel Identification Number: 16251100020000

Bedroom #2

• Size: 16X14
• On Main Level
• Carpet Flooring

Bathroom Information

• Whirlpool
• Bidet
• Steam Shower
• Bathroom(s) in Basement

Dining Room

• Separate Dining Room
• Size: 21X13
• On Main Level
• Hardwood Flooring

Additional Room #1

• Bedroom #5
• Size: 15X14
• On Lower Level
• Carpet Flooring

Additional Room #4

• Recreation Room
• Size: 32X18
• On Lower Level
• Carpet Flooring

Additional Room #7

• Other
• Size: 14X12
• On Main Level
• Other Flooring

Utility Information

• Water: Public
• Sewer (Public)

Lot Information

• .50-.99 Acre
• Dimensions: 94X232X100X197
• Fenced Yard
• Irregular

Financial Information

• Tax: $52,920
• Tax Year: 2007

Bedroom #3

• Size: 15X11
• On 2nd Level
• Carpet Flooring

Living Room

• Size: 46X35
• On Main Level
• Marble Flooring

Kitchen

• Size: 20X16
• On Main Level
• Hardwood Flooring
• Has Window Treatments

Additional Room #2

• Bedroom #6
• Size: 14X13
• On Lower Level
• Carpet Flooring

Additional Room #5

• Library
• Size: 12X06
• On Main Level
• Ceramic Tile Flooring

Fireplace Information

• # of Fireplaces: 2

Parking Information

• # of Cars: 3
• Garage
• Attached Garage
• 3 Car Garage

Location Information

• Township: MORAINE
• Directions: Sheridan Rd N of Roger Williams to Beech W to home

School Information

• Elementary School: LINCOLN ELEMENTARY SCHOOL
• Elementary School District: 112
• Junior High: NORTHWOOD JUNIOR HIGH SCHOOL
• Junior High District: 112
• High School: HIGHLAND PARK HIGH SCHOOL
• High School District: 113

[Paige65]

Originally Posted by Humboldt1

Cohdane,

Please note over $50K property taxes. It originally listed in Jan 09 for $1.58MM.
260 Beech St HIGHLAND PARK, IL 60035

Price: $794,900

Beds: 6Baths: 5.5Sq. Ft.: - Lot Size: 0.5 Acres Property Typeetached Single Family, 2 StoriesStyle:ColonialYear Built:1993 Community:Highland Park County:Lake MLS#: 07113258Source:MREDStatus:Price ChangeOn Redfin:106 days
STUNNING 2 STORY COLONIAL WITH 6 SPACIOUS BEDROOMS, 5.1 BATH, FULL FINISHED BASEMENT WITH FAMILY ROOM AND RECREATION ROOM, 2 FIREPLACES, NICE YARD, 3 CAR GARAGE & MORE. AS IS. NO SURVEY OR DISCLOSURES PROVIDED, BUYER RESPONSIBLE FOR ANY AND ALL CITY INSPECTIONS, ESCROW ETC. IF REQUIRED. ALL SYSTEMS TESTS ARE AT THE BUYERS EXPENSE. ALL OFFERS MUST HAVE PRE APPROVAL AND MINIMUM 2% EARNEST MONEY IN CERTIFIED FUNDS
Master Bedroom

• Has Master Bath
• Size: 28X18
• On Main Level
• Hardwood Flooring

Bedroom #4

• Size: 17X12
• On 2nd Level
• Carpet Flooring

Family Room

• Size: 28X15
• On Lower Level
• Carpet Flooring

Additional Rooms

• Has Basement
• Full Basement
• Finished Basement

Additional Room #3

• Bonus Room
• Size: 17X12
• On 2nd Level
• Carpet Flooring

Additional Room #6

• Loft
• Size: 14X14
• On Main Level
• Other Flooring

Heating & Cooling

• Gas Heating
• Forced Air Heating
• Central Air Conditioning

Building Information

• Age: 11-25 Years
• Dryvit Type Exterior
• Stone Exterior

Property Information

• # of Rooms: 16
• Ownership: Fee Simple
• Parcel Identification Number: 16251100020000

Bedroom #2

• Size: 16X14
• On Main Level
• Carpet Flooring

Bathroom Information

• Whirlpool
• Bidet
• Steam Shower
• Bathroom(s) in Basement

Dining Room

• Separate Dining Room
• Size: 21X13
• On Main Level
• Hardwood Flooring

Additional Room #1

• Bedroom #5
• Size: 15X14
• On Lower Level
• Carpet Flooring

Additional Room #4

• Recreation Room
• Size: 32X18
• On Lower Level
• Carpet Flooring

Additional Room #7

• Other
• Size: 14X12
• On Main Level
• Other Flooring

Utility Information

• Water: Public
• Sewer (Public)

Lot Information

• .50-.99 Acre
• Dimensions: 94X232X100X197
• Fenced Yard
• Irregular

Financial Information

• Tax: $52,920
• Tax Year: 2007

Bedroom #3

• Size: 15X11
• On 2nd Level
• Carpet Flooring

Living Room

• Size: 46X35
• On Main Level
• Marble Flooring

Kitchen

• Size: 20X16
• On Main Level
• Hardwood Flooring
• Has Window Treatments

Additional Room #2

• Bedroom #6
• Size: 14X13
• On Lower Level
• Carpet Flooring

Additional Room #5

• Library
• Size: 12X06
• On Main Level
• Ceramic Tile Flooring

Fireplace Information

• # of Fireplaces: 2

Parking Information

• # of Cars: 3
• Garage
• Attached Garage
• 3 Car Garage

Location Information

• Township: MORAINE
• Directions: Sheridan Rd N of Roger Williams to Beech W to home

School Information

• Elementary School: LINCOLN ELEMENTARY SCHOOL
• Elementary School District: 112
• Junior High: NORTHWOOD JUNIOR HIGH SCHOOL
• Junior High District: 112
• High School: HIGHLAND PARK HIGH SCHOOL
• High School District: 113

As I was walking past this house just yesterday, I noticed that it needed, among other things, exterior work. It's not stunning and it's not a colonial. It's a monster dryvit house that looks like it belongs in Miami and is falling apart. I was in the house about eight years ago for an estate/house sale. I remembered I thought it was a little tacky at the time, sort of looked like a hotel with a mixture of good and bad finishes. I think it's been bought and sold a few times since it was built. The lot looks to be a decent size, so it would be a good tear down. And an FYI to anyone who may be looking, the middle school information is incorrect, it's in Edgewood Middle School boundary, not Northwood Junior High.

There's a much better looking house up for auction a few blocks away from the one you listed. It's on Sheridan Road between Beech and Cedar. I don't believe that house has ever been occupied.

FYI, the house you were looking at several months ago on Green Bay Road had a price drop. Houses on the lower end of the market in HP in my area (Ravinia) are selling quickly. Three houses within a few blocks of me have sold within two weeks of listing. Again, these are low end listings $300,000-$425,000. One of the sales was about 20% below asking price though.

[chet everett]

Originally Posted by Paige65

As I was walking past this house just yesterday, I noticed that it needed, among other things, exterior work. It's not stunning and it's not a colonial. It's a monster dryvit house that looks like it belongs in Miami and is falling apart. I was in the house about eight years ago for an estate/house sale. I remembered I thought it was a little tacky at the time, sort of looked like a hotel with a mixture of good and bad finishes. I think it's been bought and sold a few times since it was built. The lot looks to be a decent size, so it would be a good tear down. And an FYI to anyone who may be looking, the middle school information is incorrect, it's in Edgewood Middle School boundary, not Northwood Junior High.

There's a much better looking house up for auction a few blocks away from the one you listed. It's on Sheridan Road between Beech and Cedar. I don't believe that house has ever been occupied.

FYI, the house you were looking at several months ago on Green Bay Road had a price drop. Houses on the lower end of the market in HP in my area (Ravinia) are selling quickly. Three houses within a few blocks of me have sold within two weeks of listing. Again, these are low end listings $300,000-$425,000. One of the sales was about 20% below asking price though.

As I recall that house was well staged, and appeared to be a good value. It is funny how seasonal factors DO effect the market. I suspect that had they waited to put that house on the market they could have avoided the price drop...

[Paige65]

Originally Posted by chet everett

As I recall that house was well staged, and appeared to be a good value. It is funny how seasonal factors DO effect the market. I suspect that had they waited to put that house on the market they could have avoided the price drop...

I was probably a little harsh. I'm sure it's a deal for $795,000, assuming that it doesn't have big problems. For $1.5mil in January of this year, (too) many other houses were better looking on the east side for the price. However, when it comes down to it, I suppose it could be that it's just not my style!

[chet everett]

Originally Posted by Paige65

I was probably a little harsh. I'm sure it's a deal for $795,000, assuming that it doesn't have big problems. For $1.5mil in January of this year, (too) many other houses were better looking on the east side for the price. However, when it comes down to it, I suppose it could be that it's just not my style!

I don't think you can avoid a 50% price reduction with 'timing'.

I meant the OTHER house was staged well, and if they had waited until like RIGHT NOW to market it they may have not gotten stale and had to make the price adjustment.

The fall /winter / and early spring have been DEVASTATING on prices in the Chicago region. Bad weather and WORSE news were like two converging storm fronts that drove out buyers right as lenders were tightening standards -- "the perfect storm".

Hope the worst is over. I did see a bluebird at lunch (though I hear they destroy other birds nests, not sure that is a good omen )

[Humboldt1]

Paige,How much did the Greenbay Road house end up getting listed for with price drop?I spoke with a realtor this afternoon. North Shore is going to be a great area to pick up distressed property for a great price in the next year or so.

[cohdane]

Sorry to pop in late. Been running around. The lovely Green Bay house is currently at $449k:

1135 Green Bay Rd, HIGHLAND PARK, IL 60035 | MLS# 07068483

Starting April 15, it looks like he's averaging a price drop per week. Not the first one I've seen use this tactic to finally find a buyer. It's a cute house. Green Bay Road is definitely the deal killer on it.

I'm really hoping the distressed owners don't continue to leave distressed (destroyed) houses. If I see one more perfectly good house done in by sheer neglect, I'm going to find the owner and scream.

[Anthera]

Originally Posted by Paige65

As I was walking past this house just yesterday, I noticed that it needed, among other things, exterior work. It's not stunning and it's not a colonial. It's a monster dryvit house that looks like it belongs in Miami and is falling apart. I was in the house about eight years ago for an estate/house sale. I remembered I thought it was a little tacky at the time, sort of looked like a hotel with a mixture of good and bad finishes. I think it's been bought and sold a few times since it was built. The lot looks to be a decent size, so it would be a good tear down. And an FYI to anyone who may be looking, the middle school information is incorrect, it's in Edgewood Middle School boundary, not Northwood Junior High.

Why, why why do so many agents list homes as "colonial"? Do they not know the difference between a Tudor or contemporay or colonial? Or do they think they will get more traffic for a colonial?

[Paige65]

Originally Posted by Anthera

Why, why why do so many agents list homes as "colonial"? Do they not know the difference between a Tudor or contemporay or colonial? Or do they think they will get more traffic for a colonial?

Silly, isn't it? I think colonial must turn off the fewest amount of people!

[Paige65]

Originally Posted by cohdane

Sorry to pop in late. Been running around. The lovely Green Bay house is currently at $449k:

1135 Green Bay Rd, HIGHLAND PARK, IL 60035 | MLS# 07068483

Starting April 15, it looks like he's averaging a price drop per week. Not the first one I've seen use this tactic to finally find a buyer. It's a cute house. Green Bay Road is definitely the deal killer on it.

I'm really hoping the distressed owners don't continue to leave distressed (destroyed) houses. If I see one more perfectly good house done in by sheer neglect, I'm going to find the owner and scream.

It looks like a cute house from pictures. I think you're right about GBR, that's what's killing it.