Individual homeowners in Downers Grove aren't alone in seeing the value of their homes fall over the past several years. The Village of Downers Grove has seen the value of a home it purchased fall by more than 50%.
The Village purchased the home at 5237 Benton Ave for a reported $463,000 for the construction of a storm water detention pond. According to Trib Local, the home is under contract with a local builder for $205,000.
Read the Trib Local article for the positive spin the Village puts on its taking a substantial loss.