In January 2003, a modest three-bedroom red brick bungalow in Jefferson Park sold for $269,000. Last Thursday, at a foreclosure auction in a suburban hotel ballroom, that same Northwest Side bungalow sold for $209,625 (which included an auction fee of $14,625). Although he declined to provide his name, the buyer was positively jubilant. I know its worth more than that, he said. I just got a nice home for me and my family....
For more info, check the blog at www.chicagomag.com/radar/deal-estate
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