Can-Do Condos
Two developers help banks redeem high-rise foreclosures
Two developers help banks redeem high-rise foreclosures
Brit manor on North Shore once home to TV rating king
List Price: $1,595,000
Sale Price: $1,485,000
The Property: Never mind the house pictured here. It’s gone, demolished on March 5th, two days after the Winnetka-based Heritage Luxury Builders closed on its purchase of the site. The lot is first-rate: just under half an acre in east Winnetka, surrounded by impressive homes—both old and new—and with lakefront parks one and three blocks away…
List Price: $2,599,000
The Property: A winding drive through the woods leads to this new 17-room house, designed in the style of a French country manor by the builder, Stephen Kozer, and his wife, Patty Kozer, an interior designer. The home’s well-chosen details start on the exterior, where carefully placed pieces of limestone give depth to the façade, especially in winter when snow and ice highlight the many crannies and ledges. A customized set of wrought-iron insets on the doors carry through to the wrought-iron railings of the main interior staircase.
Together, the many empty, unsold builder houses sprinkled around Chicago and the suburbs constitute a kind of scattered-site ghost town. But in the past few weeks, there have been signs of life—in the form of short sales and huge preforeclosure price cuts that have put living families into some of those homes, and that may do the same for many more in the near future…
List Price: $2.975 million
Sale Price: $2.81 million
The Property: Although this 5,700-square-foot home was built in Chicago’s Old Town in 2005, its brick and limestone construction, its slender, arched windows, and its flat façade make it appear much older. But if the attached two-car garage doesn’t give away its true age, a look inside at the elevator…
List Price: $4,239,000
The Property: Fifteen years ago, Tom Melk and Sarah Potter paid $500,000 for two dilapidated wood frame houses from 1874. “They were basically leaning on each other to stand up,” Potter remembers. Over the course of ten years, the couple created a distinctive new home by building a glass bridge between the two houses and completely reworking the interiors in a 1930s Modernist style with white plaster walls, crazy-quilt…
Last week, the first four buyers closed on their condos in one of the city’s most improbable building conversions, the top ten floors of the slab-like, 50-story 55 E. Monroe office building, which has been transformed into a residential block called Park Monroe…
Sale Price: $1.65 million
The Property: This commanding 16-room Georgian mansion looks down from its hilltop site through a broad allée of 26 tall silver maple trees. The home was built in 1972 at the center of the McIntosh section of the village of Inverness from a design by Adolph Nilsson, whose company, Period Homes, built several impressive houses in this and…
List Price: $2,995,000
The Property: This desirable four-bedroom Lincoln Park condo became even more attractive after its sellers cut their asking price by 25 percent. It’s one of eight units in a concrete and glass building that was designed by Pappageorge Haymes and developed by the Belgravia Group. The building stands on a low-traffic cul-de-sac just a block west of the Francis Parker School…