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140 Hazel Avenue
Glencoe, IL 60022
Karen Arenson with Engel & Völkers Chicago North Shore, original listing - (847) 441-5730
$2,750,000
Conventional
Property
Bedroom
5
Bathroom
Full: 5, ½: 1
Property Type
Conventional
Square ft
6019 Square Feet
Property Description
Nestled just one block from Lake Michigan's fabulous beachfront and only 2.5 blocks from downtown Glencoe, this exquisite home offers a rare combination of architectural distinction and modern luxury. Its prime location provides convenient access to the Green Bay Trail, schools, coffee shops, and fine dining, ensuring an exceptional lifestyle with walkability. Situated on a beautifully landscaped nearly half-acre lot, this home has been extensively enhanced with a thoughtful addition, full renovation, and stunning architectural details. The timeless DeGiulio kitchen is a chef's dream, featuring high-end appliances, an oversized island ideal for gathering, food prep, and entertaining, plus breathtaking views of the lush backyard and patio. Flowing seamlessly from the kitchen, the family room provides a warm and inviting atmosphere for everyday living. The formal dining room and grand living room provide elegant entertaining spaces and showcase the home's architectural integrity; the living room features a stunning inlaid ceiling and a statement fireplace. The second floor boasts five bedrooms, three of which are en suite. Two spacious bedrooms-part of the home's addition- feature volume ceilings, multiple exposures, large walk-in closets, and ensuite baths, making them light-filled and airy. Two additional bedrooms share a beautifully updated hall bath and offer ample closet space for extra storage. The primary suite is a luxurious retreat with built-in bookshelves and a charming window seat that creates a dreamy reading nook. The crown jewel of the suite is the spa-inspired primary bathroom, complete with custom tiling, an enormous soaking tub, a spa shower, and a generous vanity, all highlighted by a striking barrel ceiling. A rare opportunity to own a home that embodies both architectural significance and modern refinement, this residence offers an unmatched living experience in one of Glencoe's most coveted locations.
Property Information
Lot Size
0 sqft square ft
Property Type
Other-Single Family Residence
Year Built
1927
MLS Number
--
Location
Address
140 Hazel Avenue
City
Glencoe
State
IL
Zip Code
60022
County
COOK (COUNTY NORTHEAST)
Listing
Provider
Engel & Völkers Chicago North Shore, original listing
Name
Phone
(847) 441-5730
Office Name
Office Phone
(847) 441-5730
Agent Name
Karen Arenson
Agency Phone
(847) 441-5730

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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.