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1088 Center Drive
South Elgin, IL 60177
$1,897,500
Conventional
Property
Bedroom
9
Bathroom
10
Property Type
Conventional
Square ft
12095
Property Description
*St. Charles Schools D303* Experience the epitome of country living on this expansive 18-acre compound, boasting a plethora of recreational amenities and multiple well-appointed dwellings. Whether you're a fan of fishing, swimming, snowmobiling, or horseback riding, this compound offers a wide array of opportunities to indulge in your favorite outdoor activities. The ranch home, spanning 4,390 square feet, features 3 bedrooms, 2.5 baths, a rejuvenating sauna, an attached 2.25 car garage, and a luxurious saltwater pool. Adjacent to the pool is a 728 sq ft pool house equipped with a full bath, a well-appointed kitchen, ample storage, and a built-in gas grill. For automotive enthusiasts, there's a detached 2,000 sq ft garage with loft storage space and double-height ceilings designed to accommodate car lifts. Just across the driveway, the elegant two-story home, constructed in 2006, spans 5,897 square feet. It features an attached 3.5 car garage, 5 bedrooms, including a first-floor master ensuite, and 4.5 bathrooms. The home boasts a gourmet kitchen, a full finished basement with a wet bar, wine cellar, and a game room. Notable features include 10' ceilings throughout, 8' solid sapele wood doors, and radiant heated floors in all bathrooms, the basement, and the garage. Further enhancing the property is a 1,080 sq ft ranch guest house nestled amidst the scenic landscape. This charming guest house offers 2 bedrooms, 1 bathroom, a full basement, and an inviting enclosed front porch. Additional storage space is provided by a separate barn, ideal for housing recreational vehicles, yard equipment, and various outdoor gear. Or for horses and other animals. Outdoor enthusiasts will revel in the beauty of the property, which includes stunning decks, inviting patios, a well-maintained garden area, Brewster Creek with a picturesque wooden bridge, a spring-fed pond, 3 acres of natural fen, wooded expanses, an artesian spring, and easy access to adjacent Kane County bike trails. This property is served by Anderson Elementary, Wredling Middle School, and St. Charles North High School, with bus service provided. Value added features: (2021) Ranch: New pool chlorinator, 2 story: 2nd zone AC, Nest thermostat; (2020) 2 story: Timbertech deck; (2019) Ranch: Washer & Dryer; (2018) Ranch: Diving board, 2 story: Interior painting & trim, Miele dishwasher; (2017) Ranch: Composite deck off master bedroom, 2 story: Washer; (2014) Ranch: 20KW generator; (2010) 2 story: Generator; (2008) Ranch Complete tear-off/replace roof, Barn roof; (2006) 2 Story: 2nd zone water heater.
Property Information
Lot Size
18 acre(s) square ft
Property Type
Residential
Year Built
1988
MLS Number
11909541
Location
Address
1088 Center Drive
City
South Elgin
State
IL
Zip Code
60177
County
KANE
Listing
Provider
Keller Williams Inspire, original listing
Name
Keller Williams Inspire
Phone
(630) 377-6200
Office Name
Keller Williams Inspire - Geneva
Office Phone
(630) 262-9500
Agent Name
Katie Fish

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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.