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10045 W Edgewood
Polo, IL 61064
$682,000
Conventional
Property
Bedroom
1
Bathroom
2
Property Type
Conventional
Square ft
9297
Property Description
PRICE REDUCED! This tranquil 40-acre AG-1 retreat with its timber windbreak, fenced pastures, hay field, year-round creek, and turn-key Morton-built Equestrian Center (78’x112’) has a well-lit indoor arena, 8 stalls, and 1,000 sf of climate-controlled living quarters. Seven stalls are 11’x12’, the 8th is 14’x14’ and combined with its neighbor can be a mare and foal stall or used for stall-kept recovery. Entering the driveway, horses grazing in a lush 4-board-fenced paddock will welcome you. Along that lane, Eastern Redbuds and tulips bloom pink in spring. At that paddock’s rear gate there is an automatic waterer and hydrant for connecting a hose or filling a bucket if needed. That same lane continues past the hilltop apple orchard (Jonathons, Jonagolds, and Honey Crisps) that bears enough fruit for you and your herd to share. That same lane provides access to the arena via the east side’s sliding door, big enough for horses and farm equipment. Through two more gates that lane leads to the barn’s backside, the dry lot, stall exits, and around the entire property. The barn’s center doors open wide enough for loading a trailer or unloading a hay wagon. At the parking pad, the walk-thru entry opens to living quarters on the right—a kitchenette and two bathrooms on the first floor—and a staircase on the left that leads up to a great room (33’x11’) with baseboard heat, ceiling fan, window a/c, cable, Wi-Fi, and an office or bedroom that overlooks the mare and foal stall below. On both levels, windows provide an unobstructed view of the arena, stall fronts, and partial view of the dry lot. Upstairs, sliding-glass doors open onto a deck for picturesque views of 5 more fenced paddocks, 2 more automatic waterers, 3 more frost-free hydrants, and a 48’x18’ loafing shed as shelter from storms or scorching heat. The first-floor’s kitchenette adjoins the indoor wash rack (lined in fiberglass), with crossties and an indoor frost-free hydrant. Beyond the wash rack, a tack room with shelves and cabinets doubles as a utility room with hot and cold tap water, water softener, iron eliminator, set-tub, washer/dryer, and two instant hot water heaters (one for faucets, the other for radiant heat in the first floor’s living space). All stalls have in-and-out access to the arena and the 60’ outdoor dry lot/round pen and its gated access to a central lane that leads to southern and western paddocks. Here, an equine enthusiast can board, train, or rescue horses, or conduct riding or equine-assisted therapy sessions while potentially adding onto the living quarters or building a separate residence. Come watch radiant sunrises and sunsets, deer at dusk, eagles in flight, meteor showers, and lunar eclipses minutes from White Pines State Park, Lowell Park, I-88, local riding trails, shopping, restaurants, groceries, fast food, health clinics, pharmacies, hospitals, and public schools. This is a horse lover’s dream and now it can be yours!
Property Information
Lot Size
40 acre(s) square ft
Property Type
Residential
Year Built
--
MLS Number
202400136
Location
Address
10045 W Edgewood
City
POLO
State
IL
Zip Code
61064
County
OGLE
Listing
Provider
REMAX OF ROCK VALLEY, original listing
Name
REMAX OF ROCK VALLEY
Phone
(815) 732-9100
Office Name
Re/Max of Rock Valley
Office Phone
(815) 732-9100
Agent Name
Carla Benesh

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.