Ginevra King, the model for The Great Gatsby's Daisy Buchanan, spent her youth in this Lake Forest house that is now for sale. Read more

List Price: $3.25 million
Sale Price: $3.15 million

The Property: This lavish townhouse has splendid views across the street into Lincoln Park, a nice perk for a house that itself was built to block an unsightly view. In this case, it's the view of a two-story parking structure on a block lined with handsome old co-ops and apartment buildings.

The association of owners in the vintage condo building immediately north of this house had a slim ground-level parking lot that they wanted to expand without fouling up the block. They enlisted the architect Lucien Lagrange to design the parking structure with two townhouses...

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List Price: $3.199 million

The Property: This new 8,500-square-foot house with a deep lot is nearing completion on a curving street in Clarendon Hills. Built by Double Diamond Developers, the house has 16 rooms, including a 3,000-bottle wine room and, off the kitchen, a small "chef's office" that the listing agent, Bryan Bomba, says "would be a good time-out room for one of the kids."...

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A backyard prone to flooding becomes an opportunity to reshape outdoor space with architectural elements Read more

List Price: $4.59 million
Sale Price: $3.9 million

The Property: This elongated 12-room colonial built in the 1960s on a secluded site in Kenilworth has 125 feet of private Lake Michigan beach. The house has six bedrooms (all on the second floor), lots of custom millwork, and a comfortable family room on its east side, overlooking the lake. Situated on a six-home cul-de-sac off Sheridan Road, it is close to the Joseph Sears School and New Trier High School...

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The Property: This 15-room Gold Coast townhouse has an ornate limestone façade, though not much vintage detail left inside. But what the interior lacks in period finishes, it makes up for with lots of room (8,100 square feet) and natural light—the latter courtesy of the driveway-wide private space that separates this place from its neighbor to the immediate south. There are also lovely old plaster moldings (now painted over), high ceilings, five fireplaces—and, half a block away, the lawns and gardens at the south end of Lincoln Park...

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Dennis Rodkin appears regularly on WGN's Spike O'Dell Radio Program sometimes discussing properties not mentioned in the Deal Estate blog. Check back here each week to find links and information for those listings.
From the 10/10/07 show:

Glencoe - $364,900
MLS # 06672448
Agent: Valeria Levitin, New Century Realty
847 920 9000
No online contact given
Lake Forest - $399,000
MLS # 06516836
Agent: Liz Bulf, Prairie Shore Properties, 847 733 2826; lizbulf@prairieshore.com
http://www.prairieshoreproperties.com/search/search.cfm
Type in listing #06516836

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In the midst of all the recent fretting over subprime mortgage failures, some real-estate analysts have been warning of another wave of mortgage trouble on its way: the massive reset of Adjustable Rate Mortgages (ARMs) to higher rates than what prevailed when the loans were made three to five years ago. According to many industry observers, the new, higher payments on those loans could force another round of borrowers out of their homes.

People who used lower-cost ARMs to buy more house than they would otherwise have been able to afford may have been counting on their own income going up before the inevitable reset to a higher rate. Or they might...

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