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77 E Cedar Street
Chicago, IL 60611
$4,499,000
Conventional
Property
Bedroom
4
Bathroom
6
Property Type
Conventional
Square ft
6000
Property Description
Embark on a captivating journey through time and luxury with this exceptional brownstone on Cedar Street-a residence poised for an exciting new chapter. Crafted with meticulous precision in 2022 by Wolff Contracting and Development, this new construction home stands as a masterpiece that seamlessly weaves together history, location, and undeniable value. Step into the expansive living room, adorned with a meticulously restored staircase, coved moldings, and soaring 11-foot ceilings, creating a timeless elegance. The floor-to-ceiling porcelain fireplace becomes the centerpiece, radiating warmth in a space bathed in natural light through a wall of windows. A well-appointed wet bar with custom cabinetry beckons from the opposite end, guiding the eye towards the dream kitchen-a culinary haven with a 14-foot porcelain island featuring a handcrafted bar from custom-cut walnut wood, a six-burner Dacor stove, a brass-clad hood, and chevron-patterned hardwood flooring. Ascend to the next level, where crisp white coffered ceilings and fully customized cabinetry set the stage. Sunlight streams through full-length windows, illuminating the space adorned with striking stone accents and tasteful wall features. A spacious landing with seating harmonizes with the staircase, framed glass doors, custom cabinetry, and a glass elevator. An exquisite suite with a bath featuring white porcelain with gold inlay treatment awaits. The primary suite level offers breathtaking views through a wall of windows, featuring a unique porcelain slab installation at the fireplace. The dressing and spa-level bath areas showcase artistry and craftsmanship, with a generously sized, well-lit dressing and closet area that sparkles with character. Additional space between suites offers refrigeration and storage with a truly wonderful laundry area. An additional suite with an elegant bath featuring a steam shower completes this floor. On the next level, discover front and rear outdoor spaces. The front outdoor oasis features remote overhead sun protection, a fire pit, a grilling area, and a glass partition surrounded by lush turf and stone accents. The meticulously restored cupola pays homage to the neighborhood's rich history. The rear outdoor space, strategically positioned, is fully turfed with a half parapet to shield from any power line views. Venture to the lower level, where local artisans have created a fluid and luminous experience with a unique free-form patterned floor. The space culminates in a full-height glass wine cellar, housing up to 300 bottles. The front area offers versatility with a full-size Murphy bed, refrigeration, a dishwasher, storage, and framed glass doors-easily transformable into a separate apartment or suite. This home includes a Savant system, custom lighting from Circa, soft-close cabinetry from Wolff Development, and premium fixtures from Kohler. Emtek, Restoration Hardware, and Rejuvenation provide tasteful hardware touches. Two well-appointed laundry rooms feature all-wood cabinetry and LG appliances. Electronic shades, a full sprinkler fire suppression system, and elevator access to all floors via an exceptional glass and iron oversized lift add to the home's allure. A two-car heated garage completes this exceptional package. This stunning home is not just move-in ready; it's also available fully furnished, promising an exceptional living experience.
Property Information
Lot Size
-- square ft
Property Type
Other
Year Built
1890
MLS Number
12070227
Location
Address
77 E Cedar Street
City
Chicago
State
IL
Zip Code
60611
County
COOK (NORTHEAST CHICAGO)
Listing
Provider
Engel & Völkers Chicago, original listing
Name
Engel & Völkers Chicago
Phone
(773) 797-9500
Office Name
Engel & Völkers Chicago
Office Phone
(773) 797-9500
Agent Name
Craig Hogan

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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.