Wilmette- the mold-filled home.

[tomcho]

Originally Posted by trickygal

I just wanted to update this thread because I am so intrigued by this house.

It is now a year later and the house is contingent.
The house that once looked like this:
3600 ILLINOIS Rd, Wilmette, IL 60091, $549,900, Wilmette, Illinois real estate for sale

Now looks like this:

3600 ILLINOIS Rd, WILMETTE, IL 60091 | MLS# 07800788

I bet the seller didn't live there for the last 12 months so there is no disclosure about the mold. Anyone have access to disclosures.

Thoughts?

Someone made some cash, I'm pretty sure it didn't cost 400k to renovate it.

Jun 17, 2010 Sold (Public Records) $485,000

[Chummy Waters]

You can't look at mold and know if it's dangerous mold. You have to test. Only some molds have mycotoxins. Even if it does have mycotoxins, it can be remediated. People detest it, and that's why somebody was able to "steal" this house, remediate the mold and flip it.

[middle-aged mom]

While I know the shore I do not work this area and not familiar with this property.

Bank clearly disclosed the obvious mold problem when they sold the property to an investor in 6/2010 for $485K cash. ( No way financing was available).

3 months later it was relisted for $1.1 and all cleaned up. This particular property does not have online disclosures and therefore would default to hard copy available to anyone interested in the property and by law to the contractual buyer.. The listing history is apended to the listing information and is easily accessable to a buyer's agent. The listing agent's remarks also suggest they are not hiding any information.

It's 4000 square feet in a terrific neighborhood and top schools. Sounds like they gutted the place and replaced walls, flooring and kithen. Hopefully the buyer has done the necessary due dilly on this one.

[linicx]

I didn't know there was any safe mold spores? Mold can hide any where in any house at any time. Water + Ozygen = mold. It is very common in houses that sit vacant with no heat or air in a humid climate to have hidden mold. I had four houses tested before I bought my current home. The first three had hidden mold. My house had been vacant for 4 years but heat and air was left on by the estate heirs. It had no mold. What they did noy report was water in the basement - probably because everyone with a basement in this county has the problem.

Legally in IL mold remediation must be performed by certified and licensed remiation specialists. It is treated as a hazzardous removal. In bad cases load bearing walls might be removed and replaced. Worse case scenario is the house must be razed. In any case it is not a cheap fix. I looked at a house that had hidden and obvious mold. It was a $100K minimum to remediate a $40k house I was looking at as a potential rental unit.

[sunnyandcloudydays]

Originally Posted by trickygal

I just had to post about this because when I saw this listing I literally gasped. There is a home at 3600 Illinois Rd in Wilmette that just sold but it is FILLED with mold. 3600 ILLINOIS Rd, WILMETTE, IL 60091 | MLS# 07507769 It sold for a steal (485k) by Wilmette standards, but does anyone know if this can be fixed? Do they have to disclose this to future buyers? My allergies go crazy just looking at the photos. Maybe it is just for the lot and the buyers will tear it down. Sad, since it was just built in 2004.

Just wanted to share. Thoughts?

I knew of a home in the southburbs that was bought with cash not financed the buyer totall bought the home dirt cheap , complete rehab of the property mold remedy etc and sold it

i would speculate it would have to be disclosed to the new buyer as the legal ramifications could be awful and am not sure it would or could be financed with a regular mortgage fannie freddie without proper inspections

most people i think would shy away from such a property but as they say there is a buyer for everything someplace