Cherry Picker Investments handles foreclosures of all sizes, but most of them are not multi-million dollar foreclosures because the majority of the Illinois housing market is under $1mm in price tag. Nonetheless, multi-million dollar foreclosures do happen and this one is coming up in Evanston, IL.
925 Edgemere is a Spanish-style residence located in Southeast Evanston, on a small street with approximately 16 residences. The house was built in 2008, with five bedrooms, seven bathrooms, an outdoor pool and lakefront access totalling 11,000 square feet. The property was previously listed for $9 million; the price was lowered last year to $7.9 million. Next month the house will go to auction at the Cook County Sheriff's sale.
No one knows for sure just what the house will sell for, but I have no doubt that several people will kindly put forth their predictions.
Michael Hobbs, President, PahRoo Appraisal & Consultancy
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