September 8, 2008

Vacancies North of Howard

7714 N Marshfield was apparently sold in auction – reason unknown.

GEDC0101 GEDC0102 GEDC0103

Further north on Marshfield, this building sits vacant and boarded up. Earlier in the year there were for sale signs on this property.

7700 Block of N Marshfield GEDC0086

7711 Ashland has been ‘vacant’ for some time. Allegedly there had been squatters inside but since the police made a visit all has been relatively quiet. Yet the entrance to the back of the building easily provides a campground or party place.

GEDC0106 7711 N Ashland unsecured rear entry

Hopefully our neighbors on the West side of town will have good people purchase these properties. About the last thing any block North of Howard needs is another non-resident owner/landlord who sees nothing, hears nothing, does nothing and isn’t forced to do anything. We have enough already.

8 comments:

Hugh said...

7714 N Marshfield

PIN 11-30-216-012

12/31/01 New Year's Eve, 3-flat purchased by Jerzy Polechonski of Morton Grove for $415K

1/1702 went condo

unit 1 11-30-216-016-1001 sold 5/28/02 for $340K

unit 2 11-30-216-016-1002 sold 10/07/02 for $259K

unit 3 11-30-216-016-1003 sold 06/12/02 for $239K

all 3 changed hands again in 2004, and by 2006 all 3 had defaulted on their mortgages! Ouch!

02/07/2008 lien for $1800 H2O arrears

Bosworth said...

interesting information about 7714 Hugh....I never saw anyone live in that building. I don't think those units were ever occupied. All of those sales transactions must have just been on paper.

Toni said...

Jerzy gets around - 3 screens in CCRD.

So, tell me, what happens when/if the lenders can't even sell condos/homes in an auction?

mcl said...

It is part of their REO inventory until they can sell or otherwise dispose of it.

Hugh said...

wha? the bldg has been vacant for 8yrs?

Polechonski doubled his money in 2002 but no one ever moved in?

Fargo said...

Do we have another Kakvand here? http://fargocats.blogspot.com/2008/01/old-condo-scam.html

Toni said...

Fargo - at least Kakvand was properly prosecuted! The earlier part of this decade had more than its fair share of his ilk and many of them in Rogers Park.

Buy it, sell it to your son, brother, cousin - none who ever live in the place and none who paid the mortgage. Just front money for another project.

The city should have been onto them but most fell through the cracks and maybe with a little payola to the inspectors - if they were even aware of construction! One name on the mailbox caught my attention for sure!

He got off good and slick didn't he?

marshfield rez said...

Apparently only the third floor unit was auctioned. Here is the information from the auction website:

CHICAGO, IL - 7714 N MARSHFIELD AVE #3
6780-74 00-997-GS-JL/08-2008
3BR 2BA 1295sf+\- multi-family. Selling only unit #3.
Nominal Opening Bid: $25,000
Auctioned 8:00 AM Wednesday, August 20, 2008
High Bid $67,000
Open House: 1-4pm Sun Aug 17th and 2 hrs prior to sale time.