ELITE STREET | By Bob Goldsborough | Chicago Blackhawks left wing Bryan Bickell has paid $510,000 for a newly built, seven-room town home in Hamlin Park.
Bickell, 24, becomes the fifth current Blackhawk to own a home in a one-square-mile North Side area that encompasses parts of the Hamlin Park, West Lakeview and Roscoe Village neighborhoods, joining teammates Brent Seabrook, Troy Brouwer, Duncan Keith and Dave Bolland.
Located in a 10-home development, Bickell’s four-bedroom, 2,522-square-foot corner-unit town home has 3–1/2 baths, a fireplace, richly stained hardwood floors, a master suite with a soaking tub and a separate multiple spray shower, and a cook’s kitchen with a balcony, custom cabinets, granite counters and stainless steel appliances.
Bickell’s purchase price is illustrative of the significant decreases that homebuilders have been making in order to sell homes in the current market. The town home first was listed in May 2008 for $750,000 and was quickly reduced to $699,900 and then to $647,900.
In December 2008, the price fell to $615,505. It then rose to $629,900 in April 2009 before dropping three times in September 2009 to $624,900, $619,900 and $599,900. More reductions followed in November 2009, to $589,900 and $584,800, and again in January, February and March 2010, to $579,800, $574,900 and $549,900, respectively. The town home then was reduced to $535,000 in April and finally to $529,900 in June. For those keeping score, that’s a whopping 14 price changes in two and a half years.
Developer Bluestone Development originally had charged a higher price as part of an aim to have a “very green” development with environmentally friendly features that it later wound up not including, said listing agent Andrea Geller of Coldwell Banker, who did not represent Bickell.
“As they got ready to deliver and finish up, they saw what was happening in the housing market, it became unrealistic to be able to sell the town homes at what they needed to sell them to achieve the original concept,” Geller said of her client. “This developer had the wherewithal to adjust to the market, and still delivered with a high-quality product.”
Bickell closed on the deal on Nov. 2.
What a farse…See if any average joe gets in at that price! Not going to happen!
Farse? The average joe SHOULDN’T be getting in at that price. That’s what got us into this mess in the first place. That’s the problem with the Tea Party… they think they are owed a job and an expensive house without earning anything because they used to get on credit.
If you have 20 – 25% down in cash like you’re supposed to, trust me, the developer will get you in at a similar price.
Before you post comments, know what you’re talking about. I’m not even part of the Tea Party, but what you eluded to is completely contradictory to the Tea Party, which stands for low taxes and less government, ultimately less free loading.
And a developer would not give a lower price to a professional athlete, and in fact would try and get a higher price because they think they can afford it. The price of a home has nothing to do with who you are but how you negotiate.
There’s a quick business loan for you.
Before you post comments, know what you’re talking about. I’m not even part of the Tea Party, but what you eluded to is completely contradictory to the Tea Party, which stands for low taxes and less government, ultimately less free loading.
And a developer would not give a lower price to a professional athlete, and in fact would try and get a higher price because they think they can afford it. The price of a home has nothing to do with who you are but how you negotiate.
There’s a quick business lesson for you.
Joe, you should have somebody check your grammar and word choice before you post. First, you should not end a sentence with a preposition (about). Second, the meaning of elude is to avoid or evade. I assume you must have intended to use the word allude (in the past tense, of course). Your initial comment and subsequent attempt to correct one of your mistakes make the the first two posters appear almost intelligent.