Need a road map for a dalliance with the foreclosure market? You'd better consult more than one resource, but Chicago Mag's illustration of a successful and profitable turnaround in a rebounding neighborhood is worth an inspection. First and foremost, the owners are "house people" who got renovation results through sweat equity. They also bought their 4/4 Wicker Park home close to the market's low point — for $531K in June 2011 — and were patient (and lucky) enough to be able to sell for $822K during this Spring's price spike. It doesn't hurt that the condition and the architectural appeal is well beyond what it was two years ago. [Chicago Mag, listing]
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