Market Conditions: Foreclosures and Winter Don’t Mix
Thanks to the tipster who sent me the link to this Dec 26 report on Fox News about a new construction single family home in Wicker Park that is now bank-owned.
I don’t have the exact address but I’m sure someone on here will figure it out from the information in the segment.
It is facing complete devastation due to bursting pipes and massive flooding inside the house.
You have to see the video to believe it.
The report said it was North Wood, and the number on the door looked like 1321 or 1329. Looks pretty scary — hate to see what happened after everything thawed this weekend!
I believe this building is the last building on the west side of Wood street where the street ends at the point the Congress/Milwaukee elevated descends into the subway.
cjris, it is. And they wondered why no one wanted to buy it? Jeez.
So in non 100% owner occ’d buildindgs, try to live on the top floors? 🙂
If the bank managers had half a brain, when they forclose on a house they would offer to rent it to the former owner on a month to month lease at a reasonable rate in return for his agreeing to take care of it.
Seriously, the indoor pool has gotta add $250K in value don’t you think?
Indoor pool or ice rink? Time to get a zamboni.
Truer words have never been spoken, Sonies. In fact I am going to try to live on a top floor of a place if I buy. This is because on the top floor you can be confident that no yahoo above you will flood your living area with their stupidity.
Example in point: a little over a year ago I heard water flowing in my bathroom. It wasn’t the shower, sink or toilet yet the sound of gushing water could definitely be heard. Finally it started to come down through my ceiling fan. Turns out the genius above me, the iPhone wielding j_ck_ss had an overflowing toilet and no idea how to stop it. Luckily I was home at the time or there would’ve been much more damage. This idiot’s solution to an overflowing toilet is to just let it run and call the landlord. Yes there are people this stupid out there who don’t know how to cut the water off to a toilet.
“So in non 100% owner occ’d buildindgs, try to live on the top floors?”
If the banks had half a brain, they’d immediately dispatch someone to foreclosed properties to drain the water pipes and shut off all utilities, and make sure the place is closed up properly. It would also help if they’d keep the properties looking better. It might even help SELL the places
Here, an expensive house is absolutely wrecked and will have to be gutted clear back to the walls to salvage it, because the water wasn’t turned off. Egads.
Looks like this place sold last month. Based on the price ($251,000) someone wanted the lot and a pile of well-washed bricks.