Real Estate
Summit Drive Home on Floodplain Lists For $2.7 Million
Engineering agreement saves half of 21,000-square-foot home from demolition.
A Deerfield home that once faced demolition of half its space is now one of three in the village on the market for more than $2 million.
The foreclosed seven-bedroom, 21,000-square-foot home built on a floodplain on Summit Drive was listed for $2.7 million this week, according to Crain’s Chicago.
An engineering solution to provide corrective work on the floodplain - which is on half the home’s area - has been reached. An agreement means the work, including building retaining walls and water-directing swails, must be completed in 2015 to avoid having half the house removed.
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Also on Deerfield Patch: DHS Soccer Coach Organizing Festival To Promote Diversity
Bank of New York Mellon started a foreclosure of the home’s owner in 2008 and received the deed in March.
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The home, built in 2001, has 20-foot ceilings and a semi-finished movie theater, according to a listing.
The other two Deerfield homes on the market for more than $2 million are both in the Tarns of the Moor subdivision.
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