Another half-off sale on Glencoe new construction

501 Greenleaf, Glencoe IL

About six weeks ago I posted on two new construction Glencoe homes that eventually sold for steep discounts from their original asking price.

When we first visited 501 Greenleaf (pictured above) in Glencoe, back in July of 2006, the home was still under construction and priced at $4,295,000. It sold last November for $2,050,000, less than half the original asking price, as a bank-approved short sale.

That's a better result, both in percentage and absolute terms, than 1005 Sheridan in Glencoe, which sold at 60% off its original price $5.3M asking price.

During the summer of 2006 we monitored more than 800 new single-family homes under construction on the North Shore. More tales from the crypt, later.

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