The lakefront market on Geneva as of this morning is chugging along as usual. There are a couple of dynamite new listings on the market right now, primarily the lakefront estate on Basswood for $3.4MM. This is an amazing property, and although the MLS says that it’s active right now, I would be shocked if there weren’t offers being negotiated on this property right now. It’s a real gem. The listing in the Elgin Club for $2.150 is still pending, with an anticipated closing date in the near future.
The rest of the lakefront inventory ranges in price from $1.6MM to $5.5MM. The updated list includes pseudo lakefront homes like those in the South Shore Club, as well as the Congress Club. This is a great time to be a buyer in this market. While values are stable, you never know when you can find the right seller in the wrong position, and force a terrific deal out of him. Now only if you had a Realtor who could help you identify true value and help you negotiate the deal of a lifetime…