North Shore- Sheridan Rd, Green Bay Rd, Waukegan Rd (Glenview: foreclosure, house)

[skontoller]

Another North Shore Inquiry from yours truly.
What do you guys think of homes on these majory N-S arteries?
Based on the prices it seems that people overlook the traffic on Sheridan because of it's proximity to the lake. I feel Green Bay and Waukegan are both busier but I've had limited experience. Any thoughts?

SK

[chet everett]

The layout of Sheridan Rd is kinda odd -- in some towns it is literally is a situation where the homes on the east side back up to private beaches on Lake Michigan, and in such cases the premium is huge.

In olden times Green Bay Rd was kinda the "wrong side of the tracks" , but are not too many "Judge Schmales" types that feel that way these days. Waukegan Rd is another story, and it really IS a highway in several stretches so unless it is so very large / unique estate that does make it a much tougher sell...

[skontoller]

Originally Posted by chet everett

The layout of Sheridan Rd is kinda odd -- in some towns it is literally is a situation where the homes on the east side back up to private beaches on Lake Michigan, and in such cases the premium is huge.

In olden times Green Bay Rd was kinda the "wrong side of the tracks" , but are not too many "Judge Schmales" types that feel that way these days. Waukegan Rd is another story, and it really IS a highway in several stretches so unless it is so very large / unique estate that does make it a much tougher sell...

Wow! I didn't know that about GBR!!
W/r/t to Waukegan- There's a place (5beds/7baths/6600sq ft) on waukegan in LF that's on the market for $1.2 million down from north of $2million. I know it's a tough market but man that's a steep discount!!

[Paige65]

Sheridan Road - not that busy and a premium, obviously, if lakefront property. No negative, property value wise to have a home on Sheridan Road.

Green Bay - depends upon the suburb, but up until you get to Lake Forest, you'll get more for your money if you want to buy a house on GBR. It's no longer considered the wrong side of the tracks, but the traffic is a factor in the price of a home.

Waukegan - can be even busier than GBR and less residential. Also, because it's farther west, it doesn't even run through many NS villages. Really only goes through Lake Forest (I don't count Glenview, Northbrook, Deerfield). Once you get north of Hwy 60, it's a little more residential.

[cohdane]

We looked at a couple of homes on Sheridan in Highland Park. Both were disqualified for a lack of sidewalks. Sheridan twists and turns and the idea of walking in the street (and snow during the winter) seemed like a safety issue. If you're not popping for the manse with the beach, I don't see what the allure of Sheridan would be. I've been told that it's a "prestige address," but I don't buy it. If you have beachfront, that's prestige enough. If you don't have beachfront, it's just inconvenient.

We don't look at Green Bay Road or Waukegan because of the traffic noise.

FYI, properties north of $500-600k on the north shore are sucking wind and the foreclosure notices appear to have increased noticeably in the last few months. If you haven't already, you should get on Redfin and Realtytrac to see the market trends.

North of $1 million, there are a lot of homes rotting on the vine. I've seen a couple go to auction unoccupied.

[skontoller]

Yeah I know what you're saying about luxury homes rotting on the vine. I feel like HP is the worst offender in the $1-$1.5 range. I can't explain why this town has sufferred more than its neighbors. Redfin doesn't lie!!

SK