Here's a round up of the past week in real estate news in and around Chicago:
1. Tinley Park was named the best place to raise your kids in America: BusinessWeek reports the town has good schools and you don't have to pay a lot to live there. The elephant in the room? The Lane Bryant shootings, which BW says have brought the town closer together. Runners up in Illinois: Arlington Heights and Schaumburg
2. Hundreds of abandoned homes will be destroyed in Bensenville: As the city makes way for the airport expansion, it paid $16 million to get rid of the Bensenville homes. Local officials worry home values will go down, according to the Sun-Times.
3. Home Builders Association of Greater Chicago files for bankruptcy: The organization cites declining membership as the main reason, still owes money to convention center and advertising agency, according to Crain's.
4. Renters are now seeing the effects of bad lending decisions:The Washington Post reports that some renters in major cities like Chicago, New York and LA are having their buildings foreclosed on, resulting in lack of maintenence by landlords and nervousness about what will happen to their buildings. 328 apartment buildings were foreclosed in Chicago this year, according to a DePaul study.
5. With the tax credit extended, more homes are likely to be sold soon: This Wall Street Journal article offers advice on how you can shop smart if you want to use the tax credit early next year.
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