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Wednesday, August 18, 2010

Update!


A lot has happened since the last post. The construction was put out to bid again. The design styles of the houses were modified, and we included much more detail in the construction plans & specs. Hopefully this will give us more complete bids when they come back. Now we wait until the 27th.We also closed on our first property today (538 E. Saint Catherine Street). The house had sat vacant for about a year, after a fire that spread from the house next door ruined it. It was finally demolished in May. No property title issues from the onset, and the owner was easy to work with from the very beginning.We still have to close on 536,530, & 526 E. Saint Catherine Street.536 E. Saint Catherine is slated to be demolished by Codes & Regs sometime in the near future. As you can tell by the photos, this house is blighted beyond rehabilitation, and simply needs to come down. Total Eyesore.530 E. Saint Catherine Street was a 50 x 234 ft lot. Most, if not all of the lots on the block are 25’ lots, so it made sense to try and have the lot divided, so that we can create 2 lots, and build a house on each lot. The minor plat approval process took about six weeks from start to finish. We'll need to purchase MSD sewer taps for both lots. MSD will handle the bidding, and I was told we should have a price sometime next week.The next immediate challenge we have is getting the remaining houses that are under contract to closing. Never underestimate the challenges of finding vacant properties without title problems. Reclaiming vacant properties is not an easy task, especially when you uncover messy titles.