Home Buying in 60025>Question Details

Mary, Home Buyer in 60025

Are corner lots across the street from a recreational park/swimming pool location desirable to build on?

Asked by Mary, 60025 Mon Mar 18, 2013

The lot is 80 x 135. An inhabitable house is on the lot now.

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Answers

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Corner lots tend to have much of the land disbursed to the front and sides of a home, and proportionately less of a real backyard. When looking at a lot with a home to teardown, check the setback requirements in the specific city or village you are looking in. Just because an old home was built a certain way on a lot, doesn't mean that you will be able to build the same way if you teardown.

As for recreational parks and swimming pools being in very close proximity, some people will love it, and some will hate it. The amount of traffic from both pedestrians and vehicles can be bothersome in an otherwise quite neighborhood. Once again, depends more upon the buyer.


Paul Cionczyk| Coldwell Banker Residential Brokerage |Broker
312-433-9931 | PaulCionczyk.Broker@gmail.com |PaulCionczyk.com
Web Reference: http://www.paulcionczyk.com
0 votes Thank Flag Link Wed Apr 3, 2013
The answer, like most real estate answers, is it depends. If a buyer has a family that would want to be able to walk over to the rec facilities, then yes it would be desirable. Keep in mind the additional traffic
to the facility at all times of the day and every day. As to a corner lot, unless you can place the home in such a way that you would have a decent size space for a rear yard, that might be a negative for some future buyers.
0 votes Thank Flag Link Tue Mar 19, 2013
For a family that uses the facilities, it would be a great location. Are there other tear downs nearby already or are you setting a new precedent? Corner lots have some extra traffic from both streets, but many buyers like them. More ideal for many would be a cul d sac lot that backs up to the park, but that one is probably mot for sale.
Be sure to go to Village Hall and get all the requirements for a tear down and rebuild.
Then get estimates. Also, talk to your bank if you are getting a mortgage.
0 votes Thank Flag Link Tue Mar 19, 2013
There are pros and cons to EVERY location. To me that location is good but somewhat neutral from a resale standpoint. Pools and parks are great for owners that will utilize the facility. They also mean that potentially lots of people will be around their house. A % of buyers do not want the extra traffic. The appraiser will most likely not give you extra value for the land like they would a golf course or waterfront lot.

Geoff Ommen
Broker Baird & Warner
847-271-2622
geoff.ommen@bairdwarner.com
http://www.geoffgetsit.com
0 votes Thank Flag Link Tue Mar 19, 2013
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