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Mundelein foreclosures go upscale

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Joe Zekas

20 years on the North Shore without going native.



I spent some time yesterday with one of my firm's newest clients, Frank DeNovi, a Coldwell Banker agent who has specialized in selling bank-owned properties for 25 years.

The video from my interview is still in our editing queue, but in the meantime you can watch Frank give a basic overview of foreclosures, short sales, and the shadow inventory in Chicago area in this recent interview with First Business.

One of the topics Frank touched on in my interview with him was the increasing prevalence of foreclosures in higher price ranges. This Mundelein home - with 6 bedrooms, 5 full and 2 half baths, 9,000 square feet of living space and a 2-story great room overlooking a pond - is a good illustration of the trend. A few years back it would have fetched well over $1 million. The current price: in the $720s.

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