Delavan Lakefront Foreclosure Creates Opportunity

The foreclosure of a Delavan Lakefront Property has created the unique opportunity to purchase a lakefront home for less than half of the assessed value.  Located at 2316 North Shore Drive, the property is situated on 60 feet of shoreline and features over 5,500 square feet of living space.  This listing price is $802,900 while the assessed value is $1,7361,600.

The home was built in 1991 by a family that wanted a large lakefront yard and a modern design.  The architect developed the plan for the house based on a barn and silo.  As unflattering as this may seem, the interior was an open and spacious floor plan with six bedrooms, four bathrooms, art studio, exercise room and lakeside sunroom.  The home has a boat house with screened sitting area, children's play house, lakefront deck and remote controlled window coverings in the great room.
 The home was used primarily as a summer residence and fell into disrepair over the last few years culminating in the foreclosure a few months ago.  As a result, potential buyers need to be aware that they will be purchasing the property "as is" without a real estate condition report from the bank.  Visible areas of concern include the roof, some of the siding, moisture accumulation in the lower level, and the use of "robins egg" blue paint throughout the entire house.


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