Thursday, April 2, 2009

The story of our home

In a bizarre turn of events, it appears that Lee and I will be closing on our first home together in four weeks. We had been looking a little and were contemplating signing our first offer when a rare opportunity came along...

The story of our Home begins in the roaring 20s where a boy named Samuel began to establish himself as a salesman of kitchen gadgets along the Coney Island boardwalk. In 1935, he gave birth to a son named Ron. As Ron grew up he became part and parcel of his father's trade. Samuel began to understand client demands and invented a device that proved very efficient at chopping vegatables. Samuel and Ron began selling their gadget but they soon discovered a fundamental problem. The gadget was so efficient that they were spending a small fortune in vegetables demonstrating how efficient it was. Ron decided to tape a single demonstration and then replay it consecutively. With the chopper selling like hotcakes, Ron was free to develop gadgets of his own. After a decade Ron had amassed an empire of gadgets, commercials and taglines. As a matter of distribution it became necessary to setup warehouses throughout the country. Ron, the creator of Ronco, is Ron Popeil. Upon selling Ronco in 2005, some of the assets were sold by the holding company. Among those assets was a warehouses he built in the South Loop of Chicago near the train yards. After extensive remodeling that warehouse became what will be our home. And now you know the rest of the story. Good day.

Our side story begins in the late 90s when an overinflated economy decided to sigh...or something. When the secondary mortgage market fell into shambles the developers of our building couldn't sell any of the units because no one could finance them. They held an auction for the remaining units. Investors poured in. The financing still fell through with two of the units. We will be closing on one of those two units at 48% of the original listing price.

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