When we first visited 501 Greenleaf 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.