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400 Mix Street
Oregon, IL 61061
$547,000
Conventional
Property
Bedroom
6
Bathroom
5
Property Type
Conventional
Square ft
5490
Property Description
Your opportunity to own a piece of history awaits. Nestled on just over two acres in Oregon IL is this stunning 1874 Italianate known as Pinehill by the national register of historic places. Built by William Judd Mix, a pioneer of industry in the mercantile trade. The home located at 400 Mix st, named after its original owner served as a bed and breakfast for decades. The fairytale backdrop has been used as a venue for weddings and other special occasions throughout its life. The majestic setting along the Rock River with its mature pines even caught the eyes of studio directors as it was the set of the 2021 film "Lacy's Christmas Do Over". The possibilities are nearly as endless as the charm and character of this over 5000 sq ft mansion along the pines. They truly don't build them like this anymore, with hand carved millwork throughout the entire home. 7 rare stone clad fireplaces. A full walk-up attic with beautiful views from the Belvedere. Furthermore, the basement level is a full walkout with private full bath and laundry as well as nearly endless storage. Everyone of the 6 bedrooms offers just a little something different and a little different view but stunning from every angle. The convenience of a second story laundry adds to the potential of this large family home or B&B getaway. Through the butler's pantry into the kitchen which has been updated to accommodate an army of guests with its commercial grade gas stove and dual refrigerator set up. The home offers features like pocket doors, stained glass windows, a dumbwaiter converted into a laundry chute and so much more old-world charm you'll have to see to believe. Sip Coffey on the deck overlooking the original carriage house. Or spend a quiet evening reading a book in the screened porch on the north side of the property. The original carriage house offers even more storage to this larger-than-life estate. Don't be fooled by the two 8 foot garage doors there is ample parking for more than 2 vehicles inside. The loft of the carriage house could easily be converted into another living space or further income producing space. Located just a few short blocks from downtown Oregon with shops restaurants and entertainment along the rock river. Just under two hours from Chicago, and under a half hour to the nearest airport. You do not want to miss the opportunity to live your own fairytale or grow your investment portfolio with this extraordinary property.
Property Information
Lot Size
2 acre(s) square ft
Property Type
Residential
Year Built
1874
MLS Number
11935943
Location
Address
400 Mix Street
City
Oregon
State
IL
Zip Code
61061
County
OGLE
Listing
Provider
Keller Williams Realty Infinity, original listing
Name
Keller Williams Realty Infinity
Phone
(630) 778-5800
Office Name
Keller Williams Infinity
Office Phone
(630) 778-5800
Agent Name
Justin Pillion

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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.