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Articles filed under Residential Real Estate

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  • Geneva council hears pitch for apartments at Cetron site Jul 15, 2014 5:18 AM
    The crumbing Cetron factory in downtown Geneva could be replaced by 200 apartments, plus shops and restaurants, under a proposal presented to the Geneva City Council. Marquette Cos. of Naperville wants to tear down the factory to build a five-story building at Seventh and State streets. “Really the main point is creating that pedestrian environment and engaging the street (State),” said Jeff Prosapio, of Marquette Cos.

     
  • Wheaton residents voice concerns with downtown housing plan Jul 15, 2014 5:39 AM
    Residents and city council members spoke their minds Monday in regards to a developer's decision to go back to the original plans for the Courthouse Square condominimums and town homes in downtown Wheaton. It's been 10 years since the city first granted approval for the luxury housing project, located near Willow Avenue and Naperville Road.

     
  • ‘Human props’ stay in luxury homes to help sales Jul 14, 2014 7:39 AM
    When the Mueller family sits for dinner, the leftover broccoli and crepes are already wrapped in plastic, the kitchen is beyond spotless, and the rest of the home is so tucked-away tidy it looks like they just moved in. In a way, they have: Every inch of furnishing, every little trinket and votive candle, sits precisely as designers placed it five months ago. That would make them the most perfect suburban ideal, except for one catch.

     
  • Bay Oaks in neighborhood spotlight Jul 11, 2014 12:01 AM
    If you dream about living near the water, that dream can become a reality with a home in the Bay Oaks subdivision in Lakemoor. Residents enjoy nearby Lac Louette, Pistakee Lake and the Chain O’ Lakes.

     
  • Memory care facility under construction in Arlington Heights Jul 11, 2014 5:21 AM
    Construction is underway on Autumn Leaves, a new memory care facility in Arlington Heights that officials said will be open to patients by early 2015. Autumn Leaves specializes in housing for people living with Alzheimer's disease or other forms of dementia. The Arlington Heights location will house about 50 residents when the 30,000-square-foot, $12 million building opens on Arlington Heights Road.

     
  • No decision yet on new Arlington Hts. apartment tower Jul 10, 2014 5:30 AM
    The Arlington Heights plan commission voted to continue discussion of a proposed seven-story apartment tower for the downtown to a later meeting when commissioners had too many unanswered questions, such as about parking, affordable housing and retail space. "The parking issue is the main concern," one neighbor said.

     
  • Long-vacant Bartlett land targeted for 43 houses Jul 10, 2014 10:22 AM
    A housing developer hopes to build 43 single-family homes on long-vacant land in Bartlett. But some trustees take issue with the proposed layout on the narrow property. "(W)e're trying to squeeze 10 pounds of feathers into a five-pound sack," Trustee T.L. Arends said.

     
  • Illinois housing agency sees record number of buyers Jul 8, 2014 7:01 AM
    The Illinois Housing Development Authority reports more than 4,500 home-buyers have reserved over $500 million in mortgage financing. Officials say that’s a record in the agency’s 30 years of mortgage lending. The agency says it is a success story that comes as experts recognize the importance of first-time home-buyers in pushing economic development. The Housing Development Authority uses unique ways to help. Officials say the agency offers 30-year fixed-rate loans, competitive interest rates and as much as $10,000 in down-payment assistance. A key program is the governor’s Welcome Home Illinois. It offers $7,500 in down-payment assistance with an interest rate as low as 3.75 percent for a 30-year mortgage. The agency also offers special programs for veterans or those who choose to buy a vacant property.

     
  • Arlington Heights OKs redevelopment despite opposition Jul 8, 2014 12:53 PM
    The Arlington Heights village board approved a new TIF district for the Hickory-Kensington area in spite of concerns from residents that businesses would be forced to move to make way for redevelopment. The village didn't disagree. “We don't want to misconstrue this and say that these businesses can all stay here," the village's Bill Enright said.

     
  • 4 Lindenhurst homes targeted for razing to curb flooding Jul 8, 2014 5:32 AM
    The Lake County Stormwater Management Agency plans to purchase four homes and three vacant lots in Lindenhurst as part of a voluntary buyout program to alleviate flooding. The village would pay 25 percent of the $917,227 cost for acquisition, demolition and related costs. “Those folks (homeowners) have all signed letters of interest and are on board,” Village Administrator Matt Formica said.

     
  • Neighbors decry car-racing noise at Sears Centre Jul 5, 2014 8:01 AM
    Nearly every weekend from May to October, Hoffman Estates resident John Manfredi and his neighbors endure the whine of high-performance engines and screech of tires racing around the Sears Centre parking lot. The village likes the $50,000 to $70,000 per summer made from these events. But for Manfredi and his neighbors, it's just too loud.

     
  • Neighborhood spotlight shines on Seven Bridges Jul 4, 2014 12:01 AM
    In 1997 after Denise and Kelly Keegan had started a family, they looked to move from their townhouse in Hinsdale to a newer and more spacious home within a good school district. That criteria led them to Seven Bridges in Woodridge where the second phase of homebuilding was in process.

     
  • Housing sales hurt as fewer immigrants chase dream Jul 4, 2014 7:45 AM
    The U.S. market is missing the sales jolt provided by immigration. Last year, the number of immigrants granted U.S. residency -- typically a requirement to get a mortgage -- hit a nine-year low, according to government data. Immigrants, deterred by a weak American labor market since 2008, aren’t likely to get encouragement from Congress, where support for a reform bill has mostly evaporated.

     
  • Average rate on 30-year mortgages dips this week Jul 3, 2014 11:31 AM
    Average U.S. mortgage rates are near historically low levels. Mortgage company Freddie Mac said Thursday that the nationwide average rate for a 30-year loan dipped to 4.12 percent, down from 4.14 last week. The average for the 15-year mortgage, which had taken a big dip the previous week, was unchanged this week at 3.22 percent.

     
  • Commission to discuss ‘affordable housing’ apartments in Arlington Hts. Jun 30, 2014 5:43 PM
    A proposed apartment tower could bring 45 more apartments to downtown Arlington Heights, with more than 40 percent of those units available to people who qualify under affordable housing guidelines. The Arlington Heights housing commission is expected to discuss the development, Parkview Apartments, 212 N. Dunton Avenue, at its meeting on Tuesday and it will be before the plan commission on July 9.

     
  • Neighborhood profile focuses on Savanna Lakes in Elgin Township Jun 27, 2014 8:33 AM
    Nicole and Erik Landrowski rave about Savanna Lakes, the community where they live with their three young children. Situated at Nolan Road and Savanna Lakes Drive in Elgin Township, the neighborhood offers a pretty setting where individual custom builders, as well as homeowners, have built about 40 or 50 homes on large lots.

     
  • Average US 30-year mortgage rate falls to 4.14 pct Jun 26, 2014 10:48 AM
    Average U.S. rates on fixed mortgages declined this week, hovering near historically low levels. Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year loan eased to 4.14 percent from 4.17 percent last week. The average for the 15-year mortgage fell to 3.22 percent from 3.30 percent.

     
  • Court battle continues over Palatine apartments for disabled Jun 25, 2014 6:54 PM
    The village of Palatine will be back before a Cook County judge next month contesting a lawsuit filed against them by the developer of a proposed apartment building for people with disabilities. In March, Cook County Judge Neil H. Cohen granted the village’s motion to dismiss the case, but the developer is asking the judge to reconsider his decision.

     
  • With Town Center on the line, Wheeling makes final offer Jun 25, 2014 6:45 PM
    Wheeling has made a “very, very generous” — and final — offer to the four government bodies threatening to sue if the village board establishes two new tax increment financing districts, Village President Dean Argiris said this week. He said if the parties sue, the Town Center project in Wheeling is doomed.

     
  • Housing study to focus on conditions, opportunities in Round Lake area Jun 25, 2014 10:35 AM
    The four Round Lake communities and Hainesville will work with the Chicago Metropolitan Agency for Planning on a yearlong housing analysis. "They want to see them (recommendations) as actionable steps," said Maggie Morales, manager of community engagement at the Lake County Community Foundation, which made the application to the agency for staff assistance.

     
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