On The Market—Two-Bedroom Plus Library at the Palmolive

List Price: $2,495,000
The Property: This two-bedroom condo at the landmark Palmolive Building has been sumptuously finished with extensive millwork, gracious chandeliers, and a home automation system that controls everything from the indoor temperature to the blackout shades on the...

Housing Bulletin— Melissa Bean and Mortgage-Aid Legislation

On May 8th, the U.S. House of Representatives passed a mortgage rescue plan that, although threatened by a veto from President Bush, could help homeowners facing foreclosure stay in their homes with lower-cost loans.

Congresswoman Melissa Bean, who represents Illinois’ 8th District (Chicago’s north and northwest suburbs), authored three parts of the package that were expressly designed to keep the bill from rewarding irresponsible borrowers with government funds. “There’s an implication from opponents that this is somehow gifting taxpayer money to...

Sale of the Week—At a Loss in Wilmette

List Price: $1,199,900
Sale Price: $1,103,500
The Property: This large four-year-old house resides in a Wilmette neighborhood where new construction has replaced about one-third of the older ranch houses that still characterize the area. It has 13 rooms, five of them bedrooms (one is in the basement, where it would commonly be used for a nanny or guests), a pillared foyer, and a spacious kitchen lined with cherry cabinets. From the family room, French doors open onto a nice patio—but that’s about all there is to...