<i>One home that's sure to generate buzz due to its drop in value but is far from a new construction is the "Mr. T" home, also known as Two Gables, on Green Bay Road in Lake Forest. It was originally listed at $12.5 million in September of 2005. By mid-March, the property had begun the foreclosure process, the bank was in charge of selling the home, and it was under contract for $7.5 million. That's a drop of $5 million, or about 40 percent. (It should be noted that while the home might have been a victim of the larger financial crisis, its fortunes could have been due to unique circumstances surrounding the particular property.) </i>
<a href="http://www.northshoremag.com/cgi-bin/ns-article?article=/feature/05-09-foreclosure.html&ref=patrick.net"> North Shore feels the pain</a>
It's a great article showing how foreclosures are tanking the market on the North Shore of Chicago. The Realtor-speak at the end of the article is the bestest though.
<a href="http://www.northshoremag.com/cgi-bin/ns-article?article=/feature/05-09-foreclosure.html&ref=patrick.net"> North Shore feels the pain</a>
It's a great article showing how foreclosures are tanking the market on the North Shore of Chicago. The Realtor-speak at the end of the article is the bestest though.