Archive for January 2011

West suburban real estate news roundup

Not all of the stories linked below qualify as actual “real estate news,” but they may affect your decision on where to move. If you’re homeward bound to the western suburbs, the local media can help you learn the flavor of the different communities. Downers Grove set to modify development plan Hinsdale downtown business task... Read more »

Price cuts at Burr Ridge Village Center

The Burr Ridge Village Center, which bills itself as a “mixed-use outdoor lifestyle center,” has attracted an enviable roster of retailers, restaurants and services. A major draw has been its location at a major interchange off the Stevenson Expy (I-55) near its intersection with the Tri-State Tollway (I-294). The economic downturn has had more of... Read more »

Over 40 price reductions on Naperville home

The 6-bedroom, 3 ½ bath home at 831 Turtle Creek Ct in Naperville has been on the market for nearly a year. The home was originally priced at $540,000 and is now listed at $370,000 as an as-is short sale. The pricing history surfaces a seemingly random pattern of reductions, $5,000 here, $500 there, then... Read more »

Are Oak Brook home sellers ducking reality?

Oak Brook is a highly desirable, aspirational community, but that’s not the gist of our reference to fantasyland. There are currently 32 homes priced at $2,000,000 and above for sale in west-suburban Oak Brook. According to Redfin, only two homes have sold for $2M or more since January 1 of last year. At that pace,... Read more »

Looking for a 2-flat In Elmwood Park?

More than a quarter of Elmwood Park’s population is foreign-born, and 42% of the village’s population over the age of 5 speaks a language other than English at home. One of the reasons for Elmwood Park‘s popularity with immigrants to the United States is the wide variety of its multi-family housing stock. Two- to 4-flat... Read more »

Lombard downtown suffering vacancies

The annual Lombard Lilac Festival Parade draws a crowd to downtown Lombard, but crowds are too often scarce there. Businesses are scarcer than they used to be, according to a recent Daily Herald article noting 19 retail-level vacancies in the Village’s downtown area. Lombard is only one of a number of near-in western suburbs that... Read more »

Do these Northlake condos make any sense?

Wolf Ridge Condominiums are at 77 N Wolf Rd, a busy, not very visually appealing stretch of Wolf Road Northlake. The condos have been a difficult sell since the project began in 2006. Forty of the original sixty units are still on the market, despite price reductions and offers of seller financing. The remaining one-bedrooms... Read more »

Is Oak Park truly integrated?

Oak Park has long had a reputation as one of Chicago’s few truly racially integrated suburbs, and the village has had a commitment to fostering integration. There’s no doubt about Oak Park’s success as a viable, vibrant, attractive community. A close look at recent Census data, however, might lead some to wonder about how truly... Read more »

Western Springs Sunday open houses

Open house schedules throughout Chicagoland are lighter than might be expected this Sunday, perhaps due to the Bears – Seahawks game. If TV viewers shun the game, as ticket buyers seem to be doing, open house attendance might by higher than expected. As of Wednesday morning, only three homes are scheduled to be open in... Read more »

Low-income housing proposal spurs sparring in Oak Park

Oak Park has long been known as one of Chicagoland’s more open and welcoming communities. As is often the case in even the most liberal suburb, however, any proposal to build low-income housing triggers a drawn-out community debate. Communities that thrive on racial and ethnic diversity, it seems, aren’t always as welcoming of economic diversity.... Read more »