Rezko Mansion Auction Postponed

By Kevin Robinson in News on Aug 11, 2009 6:40PM

The sale of convicted felon Tony Rezko's North Shore mansion at auction was supposed to happen yesterday, but the sale was postponed until August 17. Rezko has exhausted his funds on legal fees and other costs. Bank of America won a foreclosure judgment on the home earlier this year after he defaulted on the nearly $6 million loan. There is just over $5 million still owed on the property. According to Crain's, several Wilmette real estate brokers believe the home could sell for between $3 and $4 million. “It’s a small market for homes that are in that upper bracket,” Sharon Freidman, a sales associate in the Winnetka South office of Coldwell Banker Residential Real Estate LLC told Crain's. “There aren’t that many people out there with a lot of money. The dot-commers have come and gone.” Maybe Yelp can buy it and have another Halloween bash, up in Wilmette this year.