Monday, November 7, 2011

INSURANCE!

UG Insurance is forever a headache!  

Our policy is up for renewal in December.  This is a stressful time for us-this property is a "headache" in so many ways.

#1. We had a high-value insurance claim just a few years ago.  

#2. The property is still in disrepair, and is uninhabitable.

#3. The property is vacant.

#4 There is the king of all "attractive nuisance" on the property.  A really deep, really old inground pool.  

The agent from the insurance company came out this weekend to take photographs.  TALK ABOUT STRESSFUL!   "would you take pictures of the better parts? to try and minimize the actual condition of the property"?  

Um, yeah.  WHAT better parts?  

SIGH.  

Hey, the view is nice!  




Monday, October 31, 2011

Water, Water Everywhere!

We are still in negotiations with family members, but hope to continue restoration projects.


Vintage homes are full of charm, but there is simply NOTHING charming about vintage electrical, or vintage plumbing.

Or vintage Roofs for that matter!

Originally, the house had a cedar shake roof.  The ridges were decorated with iron, and a row of painted shingles in a diamond pattern. There were gutters in-set in the roof (this system supplied water for the 2nd floor bath).

Generations later, the iron ornamentation was removed (was seen as being "old fashioned"), the inset gutters proved to be a poor design, and a layer (or two) of asphalt shingles now cover the cedar shake.

The asphalt is worn, there are roof leaks, and one of our top priorities is replacing the roof entirely.  We hope to get this done spring of 2012.  While it would be nice to go back to cedar shake, budget constraints have us contemplating architectural steel, or asphalt.

Architectural steel has a lot of appealing features.  I understand it is lightweight as compared to asphalt, and is supposedly lifetime guaranteed.  We are still doing research, but here are are couple of examples.

I like the looks of this "cedar shake" roof

This "slate" is a look that would be similar to the black asphalt that is on it now.

Until we can do the total replacement, we have had to tar a few places which were leaking badly.  Since the initial 2009 flood, roof leaks have caused additional damage to the 2nd floor boys room, and down into the first floor music room.

We patched the places we could see as problematic, and seem to be OK for now.

The house has been closed up for the past 2.5 years.  The first winter, we heated the house to just above freezing.  Last winter, we had the pipes winterized.  Despite this, the water line to the 1st floor toilet burst. We opened the plaster in the 1st floor bathroom to take care of this.  The dishwasher also seems to have sprung a leak, but nothing has been done about that yet.

 This past weekend (Saturday) we had an HVAC guy out to service the boiler so that we can heat the house this coming winter.   The timing was less than ideal, to start with, we were busy prepping for a big fundraiser at our farm the next day.   We had no issues with the boiler, but it's probably no surprise that one of the water lines burst while testing (upstairs boy's room again!)  My husband spent the better part of the afternoon mopping up water.

I had hoped to start working on the 2nd floor South bedroom, as it needs the least amount to get it habitable-it pretty much just needs a LOT of painting and one window replaced.  I was looking forward to accomplishing SOMETHING.   (It's easy to feel overwhelmed at this stage looking at all that needs to be done.)

Instead, we need to move all the furniture from the North bedroom to the South bedroom, so that we can test the radiator in the south bedroom (without causing further damage to the antique furniture being stored).

Alas...








History Brief.



As I mentioned in the "labor of love" post; our children are the 7th generation to enjoy the property.  

Property was purchased about 1818; maple tree along road was supposedly planted around then. 

North House was built in the 1840's.  

The timeline that I know begins with D.E. and his wife, Samantha.  

D. E. left for the California Gold Rush, and there are still letters detailing his travels.  The last letter received said "Struck It Rich, I'm Coming Home!"  

He never returned.  Samantha ran the farm and raised the children.  

North House had been remodeled over the years; suffered at least 2 major fires.  Sadly, the north house was demolished in 2010.  We were able to save brick, some of the foundation stone and the front door, and intend to use these at some point.

South House was built in the 1870's, the south bedroom and parlor wing are an addition (built 1-2 years after the main structure).  

Samantha and D.E's son G.W.E. became a successful businessman, a founding member of the Chicago Board of Trade, owner of the local bank.  

G.W.E. built the South House (as well as another house in town for his mother Samantha).

Two generations later, Grandmother and Grandfather used the house mainly as a weekend home until retirement.  

For the past 20 or so years the property has not been maintained very well.  There is an assortment of both cosmetic and structural repairs needed. 

July 2009, there was a catastrophic flood caused by a faulty water supply line in the second floor bathroom, affecting 85% of the rooms of the house. 

To say this is a large undertaking-is an understatement.  














Second Floor




 North Bedroom.  






South Bedroom/Office



Boy's Bedroom 




Second floor bath.  





Now I'll show you around inside.


Kitchen Porch.

Here is a bit of the first floor.  





Ah.  The Kitchen.


Pantry


Pantry Ceiling



First floor bath off maid's room.  




Dining Room.  












Music Room.  







South Parlor. 



Grandmother's Bedroom










Let me give you a Tour.

Photos taken June, 2011.

A few shots of the grounds.














These are the "Before" pictures.  


That's not SO bad, right?  Now let me take you inside.

Labor of Love

What my husband and I are taking on does not make good economic sense.  Being real estate professionals, both of us are trained to recognize the "Highest and Best Use" of a piece of property.

Recently we had a comprehensive appraisal of the property done.  The firm we hired is the most experienced and well respected in our area.

It was absolutely no surprise to see the recommendation

(the highest and best use)

Hire a demolition company to remove all structures.  Petition for a reduction of real estate taxes. Wait for the economy to turn around, and sell the property to be developed commercially.

 Instead, we are going to fully restore the buildings, gardens and move into it with our young, growing family.





 The reason-our children will be the 7th Generation to enjoy the property.

Are we exceedingly wealthy?  Nope.

Do we have loads of free time on our hands?  Absolutely Not!

Well then you must be unhappy with where you currently live.  Actually, we adore our quaint farm home.  5 years, countless hours of "sweat equity" we have just about gotten to the point we can relax and enjoy the million dollar views.

Are you nuts?  No Comment.











Memories.


 The greatest thing you can give children, next to good habits are good memories...


M and A in the pasture, July 2011