Chicago Mansion Price Drops Millions Because It’s Old and Ugly
If you've ever wanted to live in a mansion but don't have a million dollars this could be your chance. Sure, you're still going to need to get a loan for about $600,000 but it is a mansion. Unfortunately, as indicated in the headline, this mansion has experienced a hefty price drop. In fact, according to ChicagoMag, more than a $2mil price drop.
It was foreclosed on last year, and last week, a real estate investment trust listed it for $589,000. That’s $2.2 million off its asking price of $2.79 million five years ago — an 80 percent discount.
Before jumping into the details regarding the massive drop in cost, let's look inside. The Highland Park three-story mansion sits on just shy of an acre (at 596 Clavey Lane) with 6 bedrooms, 7.1 bathrooms, a pool, and is highly energy efficient. But, as you will see, it's u-g-l-y.
Here's the outside. If you're thinking, "this isn't so bad.", hold that thought.
Here's the foyer, which looks like some sort of hotel minus uncomfortable couches and random decor.
Here's another view of the foyer, which doesn't add much glamour.
This might be a dining room? I'm not too sure about the thing on the ceiling? It is the lights? Is it some sort of teleport?
How about the kitchen? Not too bad. I certainly don't hate it but wait until you see one of the bathrooms.
Is this some sort of funhouse? Why are there so many mirrors? Talk about the risk of awkward angles. Speaking of angles, what the heck is up with some of the bedrooms?
Like this one... why? Who thought this was an elegant look?
If that's not bizarre enough, what about this off-center fireplace?
This bathroom, though outdated, isn't too bad.
The pool area is fine but it kind of reminds me of the swimming area at Howard Johnson's on 11th Street circa 1990-something.
The broker, Todd Emert of Dreamtown, claims it’s “not in good shape.” The basement in particular will need to be gutted, thanks to 18 inches of standing water and black mold growing on the walls.
If you want to live in a mansion "just because" this might be a decent beginner option.