When Michael Jordan’s North Shore home hits the auction block this month, one bidder will get a little closer to the legend by taking up residence behind the number 23 gates at 2700 Point Lane in Highland Park. But as the stardust settles, what will a buyer find in 56,000-square-feet of living space?
With the holidays drawing near, hundreds of thousands of travelers will soon book rooms — but not at a hotel. Short-term rentals are gaining traction according to recent numbers posted by Airbnb, the online service that provides a platform for adventurous homeowners to rent unoccupied living space to travelers. In October, the company announced it had served 9 million guests since launching in 2008 — and of that amount, 5 million guests booked nights in the last nine months alone.
Old-house lovers crave the chance to purchase a vintage home and fix it up. Imagine: buying a rundown residence, giving it a little love and suddenly, it’s worth twice the price you originally paid. Sounds good, right? Well, it’s not quite that easy — but renovation can be very rewarding. As two history-laden fixer-uppers hit the market this month, we ask brokers what it takes to turn an old house — with many original details intact — into a hot property.