Winnetka Luxury Spec Home is Back on the Market at $3.275 Million Asking Price, After Purchase by Affiliate of Heritage Luxury Builders From Barrington Bank & Trust (Who Had Taken Back via Deed in Lieu of Foreclosure)
A recently built Winnetka home that Universal Structures Ltd (a luxury builder) bought from a bank for 1.4 million in 2006, is up for sale -- with an asking price of $3.275 million.
An affiliate of Heritage Luxury Builders acquired the property in October from Barrington Bank & Trust Co. N.A. for $1.95 million.
The bank took the property back this summer via a deed-in-lieu of foreclosure from Universal. Universal took out a $2.8 million construction loan from the bank, and had built the home on a “spec” basis.
Northfield-based Heritage is spending hundreds of thousands of dollars on improvements, including a movie theater, a wine cellar, new cabinets and countertops in the kitchen and new tile.