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Articles filed under Real Estate

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  • A reverse mortgage is a bad idea for some, a good idea for others Jan 3, 2015 12:00 AM
    In my father‘s generation, very few people still had a mortgage to pay when they reached retirement age. Now it is common. But retired homeowners may now have an option my father did not have.

     
  • Stay off the furniture with potential buyers Jan 3, 2015 12:01 AM
    Q. In a recent column you advised against discussing selling the furniture or appliances when buyers are looking at your home. But it seems to me that would be a fine time to let them know what you’re asking. Can you explain why it’s not a good idea?

     
  • Tax bill more than assessed valuation Jan 3, 2015 12:01 AM
    Q. I read your column concerning real estate tax appeals on condominium units. My mother-in-law’s association went through this process last year. The assessed value of the units did get reduced; however, her real estate tax bill went up by over $300. Why did her tax bill go up?

     
  • Car dealership coming to Streamwood, wants to expand to vacant land Jan 3, 2015 7:30 AM
    As construction continues on a Streamwood car dealership that upset neighbors in a town home subdivision, developers are now asking the village to incorporate vacant land where they want to park models. The Toyota-Scion dealership on Chicago Street in Elgin expects to relocate to an 81,000-square-foot showroom and service center near Lake Street and Elizabeth Drive in Streamwood this spring.

     
  • Neighborhood profile: Haverford in Schaumburg Jan 2, 2015 12:01 AM
    Haverford, built by developer Kimball Hill from 1989 to 1992, is a unique and elegant subdivision featuring four distinct communities of townhouses and single-family homes in Schaumburg. Hidden south of Higgins and west of Martingale roads on the far east side of town, Haverford is one of Schaumburg’s best-kept secrets just minutes from Woodfield Mall.

     
  • Buying a home? Do a landscape inspection Jan 2, 2015 6:00 AM
    Prudent house hunters usually await the results of a professional inspection before buying their dream home. All too often, though, one of the biggest contributors to a home’s value is neglected: the landscape.

     
  • Will Schaumburg OK new apartment parking plan? Jan 2, 2015 5:04 AM
    The developer of a proposed 192-unit apartment complex on Algonquin Road in Schaumburg has endeavored to meet the request of village zoning board members to add more parking, though not the full 50 spaces asked for. The verdict on whether the revised parking plan is sufficient for a recommendation of approval is likely to be heard at the zoning board's next meeting at 7 p.m. Wednesday, Jan. 7.

     
  • Amid drought, California town rushes desalination plant Jan 3, 2015 2:58 PM
    A California Natural Resources Agency spokesman said the emergency decree supports Cambria’s action, but did not specifically direct it. The declaration directed state officials to assist communities in need of water, measures called for “under the extraordinary circumstances of the worst drought in 40 years.”

     
  • Waking up a breakfast room Jan 2, 2015 6:00 AM
    Q. We have a tiny room off the kitchen that used to be the butler’s pantry. I’d like to turn it into a breakfast nook, but there are three windows, not much wall space, and just about enough room for a center table.

     
  • Gurnee hires first economic development director Jan 1, 2015 4:25 PM
    Gurnee has hired its first economic development director because of what the mayor says is fierce competition to attract businesses.

     
  • Average US 30-year mortgage rate edges up to 3.87% Dec 31, 2014 11:49 AM
    Average U.S. mortgage rates rose slightly this week, but the benchmark 30-year rate stayed near a 19-month low. Mortgage giant Freddie Mac says the nationwide average for a 30-year fixed rate mortgage increased to 3.87 percent this week, up from 3.83 percent last week. The rate hit 3.80 percent earlier this month, lowest since May 2013.

     
  • U.S. pending home sales climb slightly in November Dec 31, 2014 11:49 AM
    The number of Americans signing contracts to buy homes rose modestly in November as a strengthening economy helped nudge some would-be homebuyers. The National Association of Realtors said Wednesday that its seasonally adjusted pending home sales index climbed 0.8 percent the past month to 104.8 from a revised 104 in October. The index remains slightly below its 2013 average but is 4.1 percent higher than last November.

     
  • Dist. 220 goes through with land buy next to Barrington High Dec 31, 2014 8:08 PM
    The Barrington Area Unit School District 220 Board of Education voted to approve the purchase of 20.75 acres of land adjacent to Barrington High School for $2.35 million at an emergency board meeting Wednesday morning. The acquisition nets the district 7.7 usable acres from Flint Creek Crossing, a commercial subdivision, and 13.8 acres of the Flint Creek Conservation Area west of Hart Road

     
  • Canadian company to buy Lake Barrington Field House Dec 31, 2014 5:53 PM
    The Lake Barrington Field House, a 175,000-square-foot indoor sports complex, will have a new owner in the new year after a Canadian sports facility company announced this week it was buying the foreclosed center for an undisclosed amount. Representatives from Canlan Ice Sports Corp., based in Burnaby, British Columbia, said field house patrons can expect the facility to operate mostly the same

     
  • U.S. home price growth slows for 11th consecutive month Dec 30, 2014 8:56 AM
    U.S. home prices rose in October at a slightly slower pace, as real estate sales have fallen and affordability has increasingly become a challenge for potential buyers. The figures mark the 11th straight month of price gains decelerating and the smallest gain since October 2012. The slowdown in price growth comes after surging double-digit increases for much of 2013.

     
  • Pac-Man-themed eatery opening soon at Woodfield Dec 30, 2014 8:15 PM
    An opening date hasn’t yet been set for the Pac-Man-themed restaurant and entertainment center coming to Schaumburg’s Woodfield Mall, but its developers now know when they can guarantee a reservation. “I’m absolutely confident we’ll be taking reservations for Valentine’s Day,” said David Bishop, executive vice president of strategic project development for Wood Dale-based Namco Entertainment, Inc.

     
  • Divide and define spaces in smaller homes Dec 29, 2014 5:15 AM
    It is tricky to create “rooms” in one, open space. Lots of people like wide open spaces, but functions still need to be clarified.

     
  • Lake Barrington Speedway debate inspires residents to seek political office Dec 29, 2014 7:41 PM
    The debate over a proposed Speedway gas station in Lake Barrington may be over, but the controversy inspired several residents to run for the village board in the April 7 election. “A lot of residents feel they weren’t being heard,” said first-time candidate Agnes Tomasian.

     
  • Wheaton sells long-vacant Main Street building Dec 29, 2014 5:49 PM
    A city-owned building that has stood vacant for roughly two decades in downtown Wheaton has been sold to a developer who plans to open a Vietnamese restaurant in the space. While the sale of the building for $160,111 was unanimously approved by the city council earlier this month, it creates one problem: the restaurant, Luong-Loi, is already located in the downtown area, just a few doors down from its future home at 111-113 N. Main St.

     
  • Gino’s East to share space at Millrose Restaurant Dec 29, 2014 5:35 PM
    The owners of Millrose Restaurant Banquets & Country Store in South Barrington are preparing to open a Gino’s East franchise on the property in mid-January, but without giving up their existing restaurant. Among the six relocated barns that make up the landmark establishment at 45 S. Barrington Road, only the Rosewood Room and lounge area will be converted into space for the famous deep dish pizza restaurant, said Dwight Stiehl, president and CEO of the Rose Packing Company which owns the Millrose.

     
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