Downers Grove takes a beating on home purchase

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.

Leave a comment