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Biggest 2010 deals in Lake Forest were short sales
I wanted to share this recent article to everyone that is following the Chicago Short Sale Specialists Blog.   Chicago Short Sale Specialists specializes in Chicago Short Sales as well as all 50 states across the country. We help homeowners prevent foreclosure by short selling their properties. I found the following article interesting and I wanted to share it.
 
By, Andrew Shroedter
 
(Crain's) — The two most expensive home sales in Lake Forest last year had more in common than multimillion-dollar prices.
 
The transaction also were short sales, meaning the lenders approved the sale of the homes for less than the sellers owed, a sign that even affluent suburbs aren't immune to the punishing economic downturn.
 
In the latest transaction, the historic Noble Judah house at 111 W. Westminster Road in the north suburb sold in late December for just under $4.8 million, according to property records.
 
The sale was the second-priciest transaction of 2010 in Lake Forest, topped only by another short sale: The Georgian-style mansion at 620 Lake Road, once owned by former dot-com investor William Lederer, sold in April for $5.2-million.
Before the economy crashed, the massive homes on Westminster and Lake roads would've ... more

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