Wet Blanket
Nearly 25 percent of all local mortgages are “under water,” website reports
Ad Categories: Real Estate
A Tudor Wedding Gift
Some 100 years ago, a Chicago industrialist and Kenwood landowner presented this three-story residence to his newly married daughter
Eye Opener
Quiet architect and developer makes a statement
He Chases Foreclosures So You Don’t Have To
Christian Chase knows foreclosures. He should—his past seven homes have all been foreclosures that he bought, cleaned up and (except for the one he lives in now) put back on the market.
“To me, it doesn’t make sense to buy something on the retail market when you can buy a [foreclosed home] so far under the market,” Chase says. And these days, deeply discounted distress-sale properties are virtually..
Lake Forest’s Schweppe Mansion
List Price: $18 million
UPDATED Price Reduction as of 7/10: $15 million
The Property: This grand home on Lake Forest’s Mayflower Road is truly one of the most magnificent ever built in Chicago. The 27-room mansion was completed in 1915 as a wedding gift from John G. Shedd, then the president of Marshall Field & Co., to his daughter, Laura, newly married to Charles Schweppe…
Middle-Income Foreclosures Fall Into the Gap
By now, it’s pretty well known that the foreclosure crisis is no longer limited to lower-income households. Large numbers of middle- and upper-income homeowners are falling into default, too. But a new report from the Woodstock Institute points out that, in many parts of the Chicago region, more affluent households are far less likely than lower-income homeowners to get specialized counseling about the foreclosure process—and that could potentially…
Well-Manored in Beverly
List Price: $1,400,000
Sale Price: $1,075,000
The Property: With its assortment of beams, arches, and crenellations, this brick and limestone mansion on a Beverly hillside suggests an old English home that has been added to and changed over many generations. Locals speculate that was the intention of…
A Keck House in its Retro Prime—Budlong Woods
List Price: $1.399 million
The Property: Typical of the mid-century modern houses designed by Keck & Keck, this house in Budlong Woods presents to the street a low, somewhat inscrutable profile and then opens big inside: the L-shaped, 1,000-square-foot living and dining area has a 38-foot-long south wall that is virtually all windows…
Bill Rancic Buys and Sells—and Other Celebrity News
Bill Rancic, the Chicagoan who first won Donald Trump’s TV reality show The Apprentice, has turned out to be the buyer of a foreclosed condo at the Park Tower that I wrote about here in early June. Rancic had also shown up in the July issue of Chicago after he and his wife sold a Gold Coast graystone for…
Sale of the Week: Off the Ice — Lincoln Park
List Price: $3.125 million
Sale Price: $2.725 million
The Property: Although he hasn’t skated for the Chicago Blackhawks since 2004, Alexei Zhamnov held on to his 11-room Lincoln Park home until last week, closing on its sale on June 24th…