• Chicago Area’s Most Expensive Home Going To Auction

    A 26-room, 26,500-square-foot French-inspired chateau in Winnetka that has not found a buyer since being put up for sale in 2009 will go to auction, fully furnished, next month. The Chicago Tribune reported on September 8, 2011, that the home’s listing agent, Tim Salm of Jameson Sotheby’s International Realty, estimated that the cost of constructing and furnishing what he called the “trophy home of the North Shore” at $40 million.

    The house, owned by investment company CEO Sherwin Jarol and his wife, Deborah, was unofficially put up for sale in 2009 for $32 million, although it was officially listed and placed in the local multiple listing service with a $28 million asking price before being pulled from the market, according to the Tribune.

    Salm blamed the “sour economy” for the property’s failure to sell conventionally, but told the Tribune “international marketing of the auction will net a larger pool of prospective buyers” for the house, called Le Grand Reve. The auction will be conducted on October 29, 2011, without reserve.

    Homeowners of all types have been struggling to sell properties in this market, often leading to doubts that any real form of foreclosure help exists. Even if you are not looking to sell your house, but rather just to stop struggling through hard times, you can get deserved relief today by filing for bankruptcy . Whether a Chapter 13 or Chapter 7 process better suits your particular case, our Chicago bankruptcy attorneys can answer all of your questions and help end creditor harassment. If you have been thinking about filing a bankruptcy means test , you do not have to take these steps by yourself. Contact our office to set up a free initial consultation today that can help you get an affordable bankruptcy now.

    Benjamin Brand Services – Chicago bankruptcy lawyers

  • New Home Construction Suffers Alongside Struggling Housing Market

    Around 54,000 new homes were built in the Chicago area in 2005, but only about 3,000 building permits have been issued so far this year to start construction on new housing, Voice of America reported on September 2, 2011. “The new home construction, at least in Chicago, is down over 90 percent from where it was in 2007,” Hine Lumber President Doug Jones told VOA. Hines is down to four locations and “a little over 100” employees after having 27 locations and more than 1,200 employees at its peak.

    The roughly 323,000 new homes sold in the United States in 2010 was the worst year on record since 1963, according to VOA. Builder Hal Stembridge, who started his construction business in 1979 during a recession, directed his anger at the government when he told VOA, “They’ve bailed out the banks. They’ve bailed out Wall Street. They’ve bailed out the car companies. But the largest employer in the United States is still suffering and that’s homebuilding.”

    New home or old, all of us have somehow felt the impact of the economic downturn. If you do not want to wait any longer while the government bails out everybody else, you should take control of your destiny and get deserved relief today. Our bankruptcy law firm can help you with a bankruptcy means test and determine if the Chapter 13 or Chapter 7 process is right for you to help end creditor harassment. If you want an affordable bankruptcy now so you can eliminate bills and stop foreclosure, call one of our Chicago bankruptcy attorneys today.

    Benjamin Brand Services – Chicago bankruptcy lawyers