Agreed... i'm right around 6400sq myself and its plenty

 

as far as i know a broker originally, but anyone who gets to that size acts as a lender at some point..

they built the business on the brokerage though.

 

They pretty much have stopped work on his house. Wonder how his company is doing right now?

 

40k house is ridiculous. I could see a 10k house being nice, and a 6-7k being realistic. It's a rough time to be building a house like that, who knows if or when it would ever be worth whatever the going price originally was to build it. Maybe his financing fell through.

I'd rather have a 15-20 car garage and a 6-8k house on a plot large enough to built a Kart track, that would be the dream.

 

I have heard through a family friend that lives nearby this location that it looks like construction has been at a stand still for some time

 

This house is definitely not under construction anymore. I checked the house out a couple times this summer and there weren't any workers there. Seems to me like a perfect summer day would be a good time to do some work on a new house. The sub prime market must have hit this guy pretty hard. Hopefully he can get the construction up and running again because I'd like to see what it looks like completed.

 

40k sounds crazy.

LOL @ my 800 sq. ft. apartment.

 

My business is nearby, I'll have to check it out.

 

I haven't come across any news or customer report warnings against Freedom Mortgage nor Nick Memeti. Seems like a neutral reputation other than a very successful firm. I see and hear of that brand name extremely often, so that's probably steaming his move for the 40K monster house.

But seriously, I'm now curious about the success of his company. a 40K house says someone who is the founder of one of the next tremendous American financial firms with some nice assets for a chairman to confidently build an extremely expensive property let alone every other luxury with all taxes and overhead included

 

Construction has apparently ground to a halt on the 41,000-square-foot hilltop castle just outside Burr Ridge owned by the mortgage broker Nick Memeti. According to building officials from DuPage County, the project's construction permit had expired twice, both times for "lack of required activity."(Memeti, the head of Freedom Mortgage, insists that the permit expired only once and is currently up to date.) In mid-November, DuPage officials said nothing had happened on the property for more than 90 days, but they had agreed to reopen Memeti's permit for another three weeks. As Deal Estate reported in December 2006, Memeti was building the enormous home for himself, his parents, and hundreds of anticipated party guests. Since then, workers have installed some stone siding on the house, but otherwise the exterior looks much as it did more than a year ago-though Memeti says work has been proceeding indoors.


Word on street has has construction liens against the house brought on by laborers who were never paid.

Most of the brokers I know who were making about 250-500k plus a year are going to be lucky to crack 50k-100k in 07.

 

Wow.. Mort. brokers will most likely see the worst of the tough Real estate market. Banks will be crunching more months to come.

Now that I think about it I have not heard Memeti's radio commercials in awhile. Tough to keep up with that expensive advertising in this market.

 

I was anticipating seeing this place finished. I live 5 min away and indeed not much has been done since at least early summer. Could have built a sweet place on the property for a quarter of the cost. The key is that it would have probably been completed by now.

What I wonder is what is going to happen to the house if its not finished, probably just sit there vacant half finished.

 

Where in Burr Ridge is this house?

 

Freedom Mortgage team got bought out by IMB a while back. Not sure if Nick Memeti still owns the place. I know a girl who Works for FM

 

Freedom Mortgage Team did not get bought by anyone. Nick is still the owner. Feel free to call them.
I know Nick personally.