The December 21st sale of a bank-owned 18-room home in Winnetka for $2.375 million wrapped up the four-year saga of a row of four newly built mansions that all went at big discounts. If sold at their original asking prices, the four would have gone for a combined total of $18.49 million; instead, they were sold for 43 percent of that: $8.025 million…
List Price: $1.175 million
Sale Price: $1 million
The Property: Situated on a great block in Lake View, this four-bedroom house was foreclosed in May 2010 and then got a thorough cleanup, including a new kitchen…
List Price: $1,699,000
The Property: The couple who converted this circa 1889 two-flat in Wicker Park into a single-family home were transferred out of the country shortly after the rehab was finished. The home they left behind has a handsome Victorian brick exterior wrapped around a spacious and sunny renovated interior that retains a few nice vintage details…
If your own housing is secure—knock on wood—you may have been watching all these bargain-priced foreclosures from the sidelines, thinking that because you’re not in the market for a new home, you couldn’t take advantage of an appealing investment opportunity. What you may not have known is that there’s a type of IRA that lets you use your retirement funds to buy, rehab, and rent investment property, including foreclosures…
List Price: $2.95 million
Sale Price: $2.85 million
The Property: It took just 11 days for Gary Garrabrant, the chief executive officer of the Chicago-based real-estate-investment giant Equity International, and his wife, Susan, to sell their condo on the 12th floor of a vintage building on Astor Street…
List Price: $1.199 million
The Property: Set amidst a mix of new high-rises and houses on the western edge of River North is a handsome old brick loft building that was the Stiffel Lamp factory in the neighborhood’s former life as a manufacturing district…
POSTCARD PALACE: Lake Como trip perhaps inspired the Italian look of Teich mansion
With foreclosures still proliferating in and around Chicago, sharp buyers can spot some great bargains. If the property is damaged, though, most mortgage lenders won’t finance the purchase. That’s why some buyers are now turning to a specialized loan called a 203K, based on the future value of the house, post-repairs…
BILL VEECK’S HOME FIELD ADVANTAGE: House where two-time White Sox owner grew up comes to the plate
DAMSEL IN DISTRESS: Lenders looking to unload foreclosed residences—as well as would-be homeowners hoping to take advantage of cut-rate housing deals—have found an able ally in Naomi Campbell
