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617 S Oak Park Avenue
Oak Park, IL 60304
$1,000,000
Conventional
Property
Bedroom
4
Bathroom
5
Property Type
Conventional
Square ft
3000
Property Description
This is the one you have been waiting for! A Stunning, Single Family, Oak Park Elegant Residence! Come and Experience the essence of a virtually "new construction" home without the "new construction" price tag. This gem boasts four levels of spacious living, with tall ceilings and custom buildouts throughout the entire home. Nobody will be able to say they have seen a similar home in the neighborhood or anywhere else! Nearly every inch has been meticulously renovated both behind the walls and in front of them. All mechanicals are brand new; there is a new water service, a sump pump/ejector pump, new furnaces and AC condensers (2 of each), an upgraded electric service, new plumbing throughout, the outside of the home has been revitalized with landscaping and a new 2-car garage, and the inside focuses on the first floor's luxurious kitchen, which has been custom built and finished for you to show off in to all of your friends in a huge open-concept floor-plan. Every bathroom has been customized to have its own unique style and you will have 4.5 baths to choose from! There are two modern-electric fireplaces which have been built by hand in the family room and the master bedroom. There are no cookie cutters here. The second floor has three bedrooms, two bathrooms and a laundry room. The master has its own walk-in closer and an on-suite with his and her vanities, a soaking tub and a shower that looks like it was made for royalty. Additional space includes a huge walk-in porch at the front entry of the home, a mudroom in the back entry of the home. a finished-loft style basement and a fully finished, custom, attic which feels like its own studio apartment -- adding a fourth bedroom and open space for relaxing or to send the kids up to play. The basement and attic both have full bathrooms of their own as well. Revel in the luxury of contemporary living with a wealth of brand-new features and unparalleled space. Your dream home awaits you in this up-scale thriving Oak Park Community, which is full of amazing history and has an abundance of great activities to partake in - restaurants, shows, events, etc.! This home is very centrally located.To its credit, it is far enough away from the City to give you your privacy and suburban space, but close enough if you want to hop on the I-290 highway for a night on the town, you can be there in as little as 15-20 mins. You have access to both the METRA and CTA for work and commuting purposes, and the home is roughly 30 mins from O'hare Airport and Midway Airport. The options are truly endless. The schools are all great, starting at elementary level and all the way through high school You and your family will not be disappointed. Don't Miss your Chance to own a piece of this historic Village!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1914
MLS Number
12037750
Location
Address
617 S Oak Park Avenue
City
Oak Park
State
IL
Zip Code
60304
County
COOK (COUNTY CENTRAL)
Listing
Provider
Kale Realty, original listing
Name
Kale Realty
Phone
(312) 939-5253
Office Name
Kale Realty
Office Phone
(312) 939-5253
Agent Name
Franklin Abel

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.