Home for Sale at 6379 S County Line Road, Burr Ridge, IL 60527

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6379 S County Line Road
Burr Ridge, IL 60527

Alexandra Shaban with Jameson Sotheby's Intl Realty, original listing - (312) 751-0300

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Property Details

List Price:	$5,999,999
Beds:	6
Baths:	Full: 7, ½: 1
Status:	Active
SqFt:	13900 Square Feet
Agency:	Jameson Sotheby's Intl Realty
Agency Phone:	(312) 751-0300

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Description/Comments

Lot Size:	1 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	2024
Notes:	Enter a world of unmatched sophistication and exclusivity in the coveted Burr Ridge estate, nestled on Millionaires Row. This exceptional New Construction home sits on a beautifully landscaped acre and offers a rare opportunity to live in one of the area's most prestigious neighborhoods. . Experience a blend of privacy, serenity, and luxury in this stunning estate, where custom architectural details and finishes create a timeless yet inviting ambiance. The home boasts an array of impressive features, including a sauna, steam room, and a state-of-the-art theater. Featuring a gold-plated elevator, adding touch of convenience. The basement is equipped with a full kitchen and heated floors. Each bedroom is designed as a primary suite and includes its own private balcony. A four-car garage complemented by a heated driveway. Location and community are paramount here, offering a top-tier lifestyle for its valued residents. Enjoy best of both worlds with easy access to both downtown Hinsdale and downtown Burr Ridge. The area is rich with parks, country clubs, and golf courses. Near Hinsdale Hospital. Conveniently located near major transportation routes, including highways and airports, easy access to the city. All local schools include Elm Elementary, Hinsdale Middle School, and Hinsdale Central High School.
MlsNumber:	--
ListingId:	12207208

Listing Provided By:	Jameson Sotheby's Intl Realty, original listing
Phone:	(312) 554-9496
Office Phone:	(312) 751-0300
Agent Name:	Alexandra Shaban
Disclaimer:	Copyright © 2024 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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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.

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.

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