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49 High Ridge
Galena, IL 61036
$1,290,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
5592
Property Description
A hidden gem in The Galena Territory! Nestled on an elevated perch at the end of a long private drive amidst 16 acres of tranquil wooded beauty and picturesque scenery sits this 4 bed/3 bath architectural masterpiece inspired by the iconic style of Frank Lloyd Wright that boasts over 6000 square feet of living space, quality craftmanship, a pinnacle location, unapparelled privacy, meticulously landscaped grounds and stunning seasonal vistas overlooking the Shenandoah Riding Center and beyond! This extraordinary residence captures the essence of prairie style design, combining harmony with nature, timeless elegance and the feeling of a seamless integration with its lush surroundings that helps create a captivating fusion of indoor and outdoor spaces. Upon approach you are welcomed with brick-arched entry with custom stained-glass window and transom accents that opens to main level featuring stunning antique pine flooring once a part of the Sears Distribution Center in Chicago that was re-milled and refinished prior to installation allowing warmth to flow throughout, greeting room with leaf themed tile inlay and exposed brick walls, dramatic three-story foyer with tower room above, light and bright sunroom with ornate built-in bookcases and lots of windows that frame in the gorgeous natural surround, spacious dining room with cathedral ceilings, focal point brick surround woodburning fireplace, and a custom table made from Walnut trees taken down during construction, and comfortable living room that shares dining room fireplace (two-sided) and brick accent wall with French doors that lead to pristine garden area just beyond. Generous arts and crafts kitchen is a cook's haven adorned with custom cabinetry, high-end appliances, a center island with sink, ample room for eat-in table and sitting area plus walk-out access to aggregate patio with view of side garden and pond with waterfall feature. Comfortable master bedroom adjoins hall with built-in storage drawers that allows quick access to luxurious dual room master bath that offers a spa-like experience with heated tile floors, tiled walls, integrated dressing area with large closets, dual vanity with vessel sinks, reclaimed pocket doors to divide the spaces, standalone soaking tub, and tile surround shower with body sprays. Laundry room with ample cabinetry and counter space is not far away and opens to three car heated garage with lots of room for vehicles, storage, and work area. Guests can enjoy cozy front bedroom with adjacent full bath with tile surround shower, ascend to the second level to find another guest bedroom with built-in maple drawers, cabinets and desk, custom stained-glass elements of local scenes, and private balcony with great views of pond below, or retreat to the roomy lower in-law style suite with nicely appointed kitchenette, private bath, and walk-out access to flagstone patio, pond and gardens. Follow the atrium-stye stairwell to find expansive office/den with brick surround gas fireplace, built-in storage cabinetry, and private deck, additional sweeping deck area with space to entertain and take-in the amazing setting, and finish at the tower room above with views of the countryside for miles. Lower level is a sanctuary for relaxation and recreation, and houses sweeping theater room with soaring ceilings, fitness room with walls of built-in storage cabinetry, and huge tiled steam room with shower. Enjoy the outdoors from several decks, patios and sitting areas, or explore the manicured yard, gardens with pops of color and a multitude of plantings, internal trails, and idyllic pond with the trickle of a waterfall. Zoned for horses. Additional amenities too numerous to list. Truly a "must experience" property. Simply breathtaking! *Property consists of two lots (13.99 acres and 2.10 acres). Acreage, taxes and association fees are a combination of both. Square footage is sourced from Jo Daviess County Assessor and may be approximate.
Property Information
Lot Size
16 acre(s) square ft
Property Type
Residential
Year Built
--
MLS Number
202303784
Location
Address
49 High Ridge
City
GALENA
State
IL
Zip Code
61036
County
JODAVIESS
Listing
Provider
Coldwell Banker Network Realty, original listing
Name
Coldwell Banker Network Realty
Phone
(815) 777-6500
Office Name
COLDWELL BANKER NETWORK REALTY
Office Phone
(815) 777-6500
Agent Name
DAMON HEIM

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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.