312 and 320 Dee Road both listed at $1,100,000 for a total of 350 days so far.

1. Guess how many days into the listing a price change PCHG is made? <350

2. Guess how many days for a contract CTG?

3. Closed Sale Price?

Prizes TBD

THE REAL ESTATE GAME! THIS IS GONNA BE BIG!

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

1. Price drops the week after Memorial Day

2. No contract in the calendar year. Eventual contract in 2011

3. 850,000 per lot

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O judgment! Thou art fled to brutish beasts,
And men have lost their reason.

price change will happen in 35 days

closed price will be $500k for each lot

look on nort's face when he loses $1 million = priceless

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Frank Coztansa wrote:
Please die in a fire.

Price change weekend after Labor Day, Sunday to free up NFL cash for the bookie.

Sale made first Saturday in March 2011.

$798,500 for each lot. Plenty of money going into the uncapped NFL
season and make it all back.

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Flew too close to the sun on wings of pastrami

He won't lose any money beyond the principal he put in. I imagine he has a loan with one of "his guys" who will write down the loss at closing. I would not be shocked if the loan officer was non other than a certain Mr. Hernandez.

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O judgment! Thou art fled to brutish beasts,
And men have lost their reason.

no way he gets this loss written down. I bet North beat the guy up on the points and told him he would give him a spot on his new website, or his radio show. This is going to be called CAR MA !

Remember when the sudden appearance of a Las Vegas Real Estate Broker ads appeared on Mike's show???

I have a feeling I know EXACTLY HOW that happened

Mike "Honey, I am buying 2 Condos at $500K, each thats $1 mill, and you make 3%?"
Broker Lady" Actually, I am making 5% because you came in without a Broker"
Mike 'Whooaaa, you are aking 50 G on me?"
BL "Yes, that is my commission"
Mike 'I am going to need a little taste of that back, how about Five Large?"
BL "Are you a licensed real estate broker in Nevada?"
Mike "No, but I have a GED...hah hah "
BL ' Well, then legally I can't give you any referral fee"
Mike "Ok, well then I need you to buy ten 30 second spots on my radio show in Chicago or I ain't buying"
BL "OK, sounds fair"

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

I'll bet Mike owes close to $2 mil on these lots.
Late 2010 one lot sells for $550K and the other $600K. Bank sues for balance and
2011 north files for bankruptcy.

Good Dolpnin, you know as well as I do that if North's lender were going to write off the loss on the loan, the last thing they would do is allow the borrower to sell the property. Talk about wolf in the henhouse, the North's wouldn't have any motivation to sell it for $1 more than the principal. No lender who wants to keep his job would do that.

Additionally any write-off of loan amount due would be income to the North's, they probably don't want to deal with any phanton income right now.

Why do you think that? Land + Houses aren't going for that in the area.

850K is what something sold for on Muprhys lake in 2008, that has/had a house on it. Hard to tell if the house was demolished or it was just small, but sold for 850K and I think March of 2008, was MUCH better than today, as a house closing in March goes under contract in Jan, or maybe even December of 2007.

Friends of mine tried to do a fake lake development for empty nesters, didnt sell too quick. While the "Live on the lake" retirement dream exists, I dont think the fake lake is what sells. Part of the lakehouse theory is the privacy, which does not exist in such setups as Murphys Lake.

The No backyard and safety issues, also not so great for small kids

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

Ain't that a kick in the head

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Frank Coztansa wrote:
Please die in a fire.

1. Price Change in 100 days (roughly August 1)

2. Contract arrives on November 1

3. smaller lot goes for 575,000, larger lot goes for 640,000

Big price reduction before October, 2010, when the current mortgage on both parcels is due. According to the Cook County Recorder of Deeds, there is a mortgage on both properties not to exceed $4.3 million. Looks like it was intended as a purchase/construction loan. Maturity date was extended by a year both in 2008 and 2009. But in 2010, it was only extended for 6 more months. Can't tell the outstanding balance due, but I would guess the bank is getting nervous about the loan.

Also, according to the Cook County Assessors Office, the assessed values of both parcels has almost doubled for the 2009 tax year. 2009 first installment was only 55% of 2008 total, but they will catch up on the second installment due in October or November 2010.

Sold by October, 2010 at a big haircut of $1.5 million for both.

I smell a ringer.

We could start our own development company here!

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

Actually, new posters, I checked them all out.

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

Bigfan's right, Panther. I've been reading this board for a long time but I never have much to offer. I saw the Tribune article and this threat and thought I'd spend a few minutes on line so I could add some facts and insight to the discussion. So I'm not chickenshit or a pussy. Just not that in to posting comments. I'll try my best to post more often, but most of the time someone else has already posted something similar to my opinion anyway and usually with more gusto and intelligence.

And in response to the comment regarding the PIN's, it looks like there was one PIN for the lot when the mortgage was taken out and then the assessor finally got around to issuing two new pins due to the subdivision of the lot. So I'm pretty sure the mortgage I looked at wasn't tied to North's other home.

Cheers

about 70% of the USERS/READERS of this board dont post

So in otherwords, we are all just here to entertain the masses, and everyone once in awhile a guy chimes in

And who knows real estate better than a guy who can pull his car into his living room!

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

I love this!

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"I am not saying, I am just saying"

Still holding at $1.1 M per lot!

BUT ACT NOW and you can get $60,000 worth of plans!

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

Does PappyCorp LLC own these lots outright?

But also,

How much is the running bill for how much money he has sunk into the property so far?

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CSFMB: Home of the small minded

Owned by a Trust and I think he is carrying $1,000,000 about $10,000 G per month plus taxes, said it in the article, but dont feel like reading it again

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

Dey trow da plats of surveys atcha!!!

There is word out there that North had his moolah with Hernandez...and we know that didn't go well. This will be a bank-owned REO foreclosure before its all said and done. $1.35 mm for the pair, under the hammer, by the bank. Nort must be spinnin' mortgage docs like this guy spins plates:

UPDATE: Price Lowered to $979,000!

and this is my favorite, 99.99% of listings say the owner is "OOR" Owner Of Record, of this one says Mike North and here is the listing description:

Mike North says "Sell my lakefront lot(s) I've decided not to move!" Mins to O'Hare & downtown Chicago Murphy Lake is just beyond the city & far beyond the ordinary! Swim, fish, boat, ice skate, watch the sunset over the water. Use Mike's arch. drawings (at no charge and they cost thousands of dollars!) or create your own. Buy 1 lot or 2. The possibilities are endless, he'll even consider a trade!

Information deemed unreliable from other sources.

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

If you offer $675K for both, the odds are good you may own them by fall.

I am representing a guy who got 2 lots in the City for $450K each, they were listed 2 years ago for $750K each

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

http://www.youtube.com/user/Concept1Tea ... UF_fuXUkOs

Fucking classic!

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Don't take it personally.

What a fucken jackass!! Can somebody tell that dickwad that the upper peninsula is in Michigan, not Wisconsin?

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Market's gone to shit. That's a shame.

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