How did the principals of Speedwagon Properties, a Northbrook real estate investment firm, come up with a corporate moniker that riffs on the name of a classic-rock act? In real estate parlance, foreclosed property that is in the hands of a bank is often called REO, for Real Estate [Department] Owned. So it was probably inevitable…
The Properties: What kind of house does $1 million buy in Chicago right now? A fixer-upper. At least, that’s what three homes in the city that have each sold for exactly $1 million since July 1st have in common: They all have rehab ahead or, in one case, demolition…
List Price: $1.049 million
The Property: She’s the queen of Old Irving Park, a Queen Anne–style house built in 1889 as a model home for what was to be an entire village of Queen Annes.
The 25th-floor Streeterville home of Kay Alden, who last month collected her fifth daytime Emmy award—this time as co-head of the writing team on The Bold and The Beautiful—goes up for auction on July 27th…
UP!: While the local housing market struggles to climb out of the doldrums, wealthy would-be homeowners are plunking down sky-high sums for lofty, luxurious homes in new downtown condo towers. What’s driving those sales? Timing, timing, timing
EXORCISING THE GHOSTS: A new realty team helps revive sales at dormant downtown Silver Tower
NOT-SO-RISKY-BUSINESS: A report projects a big quarterly drop in the risk of further declines in home values in the Chicago area.
List Price: $2.4 million
Sale Price: $2.275 million
The Property: The lawyer and politician Richard J. Phelan and his wife, Barbara, sold their 21st-floor condo at 840 North Lake Shore Drive on June 28th.
List Price: $7.5 million
The Property: Poised atop the lakeside bluff in Glencoe, this 18-room mansion has lots of rich, carefully restored period detail mingled with well-handled modernizations. A disused dumbwaiter shaft, for example, now holds the thicket of cables…
ON THE CLOCK: Developer hopes rental strategy buys more time
