Glencoe new construction sells at sixty percent discount

1005 Sheridan Rd Glencoe IL

The home at 1005 Sheridan Rd in Glencoe was under construction when we shot the above photo in July of 2006, and carried an asking price of $5,299,999.

1005 Sheridan Rd Glencoe IL

The 6-bedroom home, with 6 full and 2 half baths came back on the market at $2,999,999 in March of last year and closed in December at $2,072,000.

A new home at 260 Wentworth Ave in Glencoe, priced at $2,499,000 in July of 2006 finally sold in October of 2009 at $1,240,000, less than half the original price.

I recall hearing from Glencoe real estate agents, more than 3 years ago, that the market for new construction had completely died. These homes appear to have been casualties of that time.

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