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Articles filed under Residential Real Estate

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  • Buffalo Grove sends developer 'downtown' study he may not like Sep 9, 2014 12:57 PM
    Although a recent study shows a “downtown” could be built on the Buffalo Grove Golf Course, it may not be the one developer Chuck Malk of CRM Properties Group Ltd. had in mind when he proposed it in 2012. Buffalo Grove trustees Monday discussed the $79,000 engineering study that shows it would be feasible to build the “downtown,” then voted, with two exceptions, to forward the study to Malk.

  • Housing demand sparks new construction in suburban Chicago Sep 5, 2014 1:42 PM
    Ready buyers, strong demand for new homes and restored consumer confidence add up to good news for area homebuilders as they begin to develop land and open new communities. “We have a strong demand in the market and a very limited supply of good homes in good locations,” said Lance Ramella, senior vice president with John Burns Real Estate Consulting.

  • Buffalo Grove downtown study reignites debate Sep 5, 2014 3:24 PM
    The public discussion of whether to build a “downtown Buffalo Grove” on the existing village campus and golf course — largely dormant since the initial proposal in 2012 — promises to receive a jolt on Monday, when the village discusses an engineering report on the feasibility of developing the site. The report stresses “the positive side of the picture,” said Leon Gopon, president of Save Buffalo Grove. “We would like to … pretty much talk about some of the issues that we feel are the other side of the coin.”

  • Long-awaited study of downtown Buffalo Grove released Sep 5, 2014 5:30 AM
    Buffalo Grove late Thursday released an online link to a study that could help determine the fate of a controversial proposal for a massive development in the area currently housing village government offices. The stucy concluded that several alternatives "presented in this report would be permittable by the regulatory agencies." The report will be discussed at Monday's board meeting.

  • Average US 30-year mortgage rate holds steady Sep 4, 2014 10:42 AM
    The average 30-year U.S. mortgage rate this week remained at a 52-week low of 4.10 percent for the third straight week. Mortgage company Freddie Mac also said Thursday the average for a 15-year mortgage, a popular choice for people who are refinancing, slipped to 3.24 percent from 3.25 percent. At its 52-week low of 4.10 percent, the rate on a 30-year mortgage is down from 4.53 percent at the start of the year. Rates have fallen even though the Federal Reserve has been trimming its monthly bond purchases, which are intended to keep long-term borrowing rates low. The purchases are set to end in October. The low rates appear to have boosted U.S. home sales. Also, moderating increases in home prices such as occurred in July should help support sales by making homes more affordable. Real-estate data provider CoreLogic reported Tuesday that home prices rose in July but at a slower rate compared with earlier this year. Greater affordability has helped the housing market recover over the spring and summer after sales and construction fell earlier this year. Sales of existing homes rose for a fourth straight month in July to their strongest pace in nine months. And a measure of signed contracts also increased in July, suggesting that final sales will rise further in coming months. To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount. The average fee for a 30-year mortgage was 0.5 point, unchanged from last week. The fee for a 15-year mortgage fell to 0.5 point from 0.6 point. The average rate on a five-year adjustable-rate mortgage was stable at 2.97 percent. The fee stayed at 0.5 point. For a one-year ARM, the average rate edged up to 2.40 percent from 2.39 percent. The fee dipped to 0.4 point from 0.5 point.

  • Bartlett considers memory care facility on Route 59 Sep 4, 2014 8:33 AM
    Artis Senior Living wants to build a memory care facility on half of a 10-acre site in Bartlett. After trustees grilled developers about the fate of the other half, Artis representatives have presented a list of nearly a dozen desirable neighbors, including retailers, offices and single-family homes.

  • Home designs for busy families Sep 2, 2014 9:42 AM
    In today’s families, most men and women work outside the home. They are only home in the evenings and on the weekends and they want to be able to spend that time watching their children’s sporting events and socializing with friends.

  • Wheaton Courthouse Square development work could start in 2015 Aug 26, 2014 5:34 AM
    After many years of planning and dispute, Wheaton's Courthouse Square development is back on track. The Wheaton City Council approved two ordinances Monday, both with a 6-1 vote, that amended the original Courthouse Square development agreement for a fifth time, and granted the developer a special use permit to construct two luxury apartment buildings near Willow Avenue and Naperville Road. Construction is expected to begin sometime in early 2015.

  • Chelsea model home opens at Arlington Market Aug 25, 2014 10:38 AM
    The Chelsea model home wowed visitors at the grand opening of Arlington Market, a new-home community with an urban flair in a prime Arlington Heights location. The community by M/I Homes offers three, two-story floor plans with two to three bedrooms.

  • New hotel pitch on the table in Fox Lake Aug 24, 2014 7:45 AM
    Fox Lake village officials have been courted four times since 1998 by developers looking to build a hotel on the Chain O' Lakes. The only thing the village has to show for those efforts are failed architecture plans and a hill of mud, weeds and grass overlooking busy Route 12. Mayor Donny Schmit hopes a new attempt to build a hotel on the 19-acre Sayles property near Eagle Point Road is the real deal.

  • 5 tips to know if a home equity line of credit is right for you Aug 24, 2014 7:34 AM
    Rising home values and low interest rates are a powerful combination for homeowners looking for more financial breathing room. Many borrowers are take out a home equity line of credit, which can pose risks. Here are five tips to help determine whether a HELOC is right for you.

  • Ivy-covered Geneva home is a modern classic Aug 24, 2014 5:45 AM
    When one thinks of Geneva, one generally thinks of stately, old-fashioned Victorians, Colonials and bungalows. But back in the late 1980s, one woman purchased a suddenly available lot near the downtown shopping district and built a modern home that so beautifully blended into its surroundings, people often miss it while driving by.

  • Naperville council denies senior living in 'second downtown' Aug 24, 2014 7:00 AM
    When Naperville officials were envisioning a “second downtown” at Route 59 and 95th Street about a decade ago, space for a senior living center was part of the plan. But if the "second downtown" plans fall through and a senior living facility still wants to build there, what happens next? “It's an attractive concept, but the concept didn't work,” Len Monson, who represented Formation Shelbourne Senior Living Services, said of the original plan as he pitched plans for The Solana of Naperville to the city council on Tuesday.

  • Buffalo Grove named of one Illinois' safest cities Aug 23, 2014 5:40 PM
    The Village of Buffalo Grove has been named the second safest city in the state by a real estate brokerage firm. All 10 cities on the list were in the suburbs. Other Northwest and West suburbs making the list included Geneva, 3, Bartlett, 4, Roselle, 5, Lisle, 6, Glen Ellyn, 7, Glenview, 8 and Libertyville, 10. Ranking first was south suburban Homer Glen.

  • Heated driveways: Goodbye to the snow shovel? Aug 22, 2014 12:06 PM
    While the rest of the neighborhood was digging out, Alex Geier had little problem leaving his Hinsdale, Illinois, house around 7:30 each morning last winter, no matter how much snow had piled up during the night. No, Geier didn't pay some kid to shovel at the crack of dawn, and he didn't hire a private plow service. He and his family were able to navigate even snowy mornings with relative ease thanks to a heated driveway, which melts snow as soon as it hits it.

  • Study of possible ‘downtown’ in Buffalo Grove almost complete Aug 22, 2014 11:48 AM
    Buffalo Grove has received a draft of a study that could influence the future of a possible “downtown” on and around the Buffalo Grove Golf Course. A final draft of the study could be available by the Sept. 8 village board meeting. “The intent of the study was to determine if there was developable area, if there was a site that could be developed and what it would take in order to make that happen,” Deputy Village Manager Jennifer Maltas said.

  • Arlington Heights approves downtown apartment tower Aug 19, 2014 5:56 AM
    The Arlington Heights village board on Monday approved a new seven-story apartment building in the heart of downtown with at least 15 percent of its units to be reserved for those who qualify under affordable housing guidelines. Parkview Apartments, 212 N. Dunton, will include 45 apartments in a mixture of one-, two- and three-bedroom units, two levels of parking and 1,254 square feet of retail space on the first floor, said attorney Rolando Acosta.

  • Listing of the week Aug 16, 2014 6:01 AM
    Aficionados of Frank Lloyd Wright and the architectural styles he fostered will instantly fall in love with this Barrington home, built in 1978 by Don Erickson, one of Wright’s protégés.

  • Pros and cons of power washing Aug 16, 2014 5:45 AM
    It’s not just national monuments like Mount Rushmore than could benefit from a good power wash every now and then. Is there grime on your siding that good old-fashioned elbow grease won’t take away? Stains on your concrete driveway? Is the deck looking dirty?

  • Listing of the week Aug 19, 2014 11:41 AM
    Old World charm oozes from this Dutch Colonial brick home, built in 1929 in the historic district of Arlington Heights.

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