Fri Oct 16th 2009 .. -14% depreciation from a year ago in 60514
I 'd say bid 30%+ under ask now if you're in no hurry.
Hinsdale is for sale also with lots of selection ..foreclosures, REO, and Bank owned ect
As a realtor in this area I can tell you that you have a lot to choose from as far as builder spec houses go in the 7 figures. When they are priced right they go fast- my partner priced a spec house well in Downer's Grove and it had a contract in 2 days and has since closed. Believe it or not if you have a realtor who previews these homes frequently, they should be able to tell you what a fair selling price should be currently. I think the main thing holding the larger homes back at this point is the jumbo and super jumbo mortgage rates. When the market gets around to adjusting these back to more competitive levels you should see these homes sell a little more quickly.
I would also look at some existing homes in the same price range as well as what is for sale in Oak Brook and Downers Grove.
Your best bet would be to get an experienced local agent that could help you determine the true value of this home... You will want someone who has sold similar homes in this area over the past 3-6 months... I would also recommend going to view other homes for sale in the area in order to compare... There may be a better deal out there.
I would be happy to recommend a local agent that could help if you feel like that is the direction you want to go.