Grand Bend at Green Bay in foreclosure

In what is believed to be the first foreclosure case of a completed Evanston condo project, Northbrook Bank & Trust “is seeking to foreclose on the 38 unsold units in the Grand Bend at Green Bay,” according to a news report in today’s ChicagoRealEstateDaily.com.
The Grand Bend has sold only 11 units of the finished six-story building [...]

Foreclosures at low prices

In 2008, there have been  foreclosures in Evanston that have sold for half of what the previous owner had paid. Some experienced big losses after buying a home “as is”, fixing it up and then selling it for less than original cost.
 
 
 
2209 Emerson sold for $145,000 on Dec. 31. The owner had bought it for $455,00 in 2006.
 
 
 
1225 [...]