Articles filed under Residential Real Estate

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  • Schaumburg garage fire caused $100,000 damage; cause still unknown Feb 5, 2015 4:35 PM
    The early investigation into a fire that damaged three garages and three cars at International Village apartments in Schaumburg Wednesday indicates that it was almost certainly an accident that probably started in one of the vehicles, officials said Thursday. Schaumburg Fire Chief David Schumann said the damage is estimated at $100,000, which includes the structure and the three vehicles.

  • Average US rate on 30-year mortgage falls to 3.59 pct. Feb 5, 2015 10:21 AM
    Average long-term U.S. mortgage rates fell this week, resuming their downward trend of this year after rising slightly last week. Rates are near historically low levels.

  • US home price gains weakened in December on slower sales Feb 3, 2015 9:00 AM
    U.S. home values rose at a modest pace in December, a sign there are too few potential buyers to bid up prices. Real estate data provider CoreLogic says home prices rose 5 percent in December from 12 months earlier. That is down from the 5.5 percent price gain recorded in November. It’s much lower than the double-digit gains that occurred last year.

  • Senior housing project underway in Elgin Feb 3, 2015 7:54 PM
    There are groundbreakings, and there are heartfelt groundbreakings — like the one that took place Tuesday for new affordable housing for seniors in Elgin. "We appreciate every one of you,” Housing Authority of Elgin resident Elizabeth Odumuyiwa said of the $33 million project to expand and renovate Central Park Tower at 120 S. State St.

  • Neighborhood profile features Red Bridge Farm, Lake Zurich Jan 30, 2015 12:01 AM
    An attractive neighborhood with good-size homes where kids can walk or ride their bikes to the elementary school, parks and library make the Red Bridge Farm subdivision in Lake Zurich an ideal location to settle and raise a family.

  • Average U.S. rate on 30-year mortgage rises to 3.63% Jan 29, 2015 11:11 AM
    Average long-term U.S. mortgage rates rose slightly this week after four straight weeks of declines, while remaining near historically low levels. Mortgage company Freddie Mac said Thursday the nationwide average for a 30-year mortgage edged up to 3.66 percent from 3.63 percent last week. The new average rate is still at its lowest level since May 2013.

  • U.S. pending home sales tumble in December Jan 29, 2015 11:11 AM
    Fewer Americans signed contracts to buy homes in December, a sign that low mortgage rates have yet to coax more buyers into the market. The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index fell 3.7 percent last month to 100.7. The index ended the year below its 2013 average. But the Realtors project sales of existing homes will rebound in 2015 to 5.26 million, a 6.6 percent increase from last year.

  • Geneva postpones vote on townhouse plan Jan 28, 2015 6:24 PM
    The Geneva city council has tabled discussion of a proposal to build 30 townhouses where seven houses now stand between Stevens and North streets, west of Route 31.

  • Wheeling’s proposed stormwater fee would take effect in August Jan 28, 2015 5:30 AM
    Wheeling officials are planning to start charging businesses and residents a stormwater utility fee this August. The proposed fee, showing up on water bills, would pay for projects designed to curb flooding and for the upkeep of the village's existing infrastructure. The other option would have been raising property taxes. "This has been a long time coming," said Trustee Ken Brady, who sits on the village's stormwater committee.

  • US new home sales jump 11.6 percent in December Jan 27, 2015 9:50 AM
    Sales of new U.S. homes accelerated strongly in December, a sign that home-buying may improve this year after a lackluster 2014. The Commerce Department said Tuesday that new home sales climbed 11.6 percent last month to a seasonally adjusted annual rate of 481,000. The gains were not enough to offset essentially flat home-buying over the course of 2014.

  • US home sales rise in December Jan 23, 2015 10:15 AM
    More Americans purchased homes in December, yet total sales slipped in 2014 as first-time buyers struggled to find houses. The National Association of Realtors said Friday that sales of existing homes rose 2.4 percent last month to a seasonally adjusted annual rate of 5.04 million. But over the course of the entire year, sales fell 3.1 percent to 4.93 million.

  • Neighborhood profile: Washington Village, Grayslake Jan 23, 2015 12:01 AM
    When Denise Meyer and Jeffrey Welker looked to purchase a larger home, they had three priorities in mind: good schools, nearby parks and a nice, well-built house. That criteria led them to Washington Village in Grayslake.

  • Des Plaines aldermen unanimously reject plan for 62 townhouses Jan 22, 2015 5:30 AM
    Citing parking concerns and a desire for retail, Des Plaines aldermen have unanimously rejected plans for a 62-unit townhouse development near downtown. “This is a bad project, shouldn’t be built, (and) doesn’t belong downtown. I don’t know how it got this far,” Alderman Jim Brookman said.

  • Further rebound anticipated in the 'burbs Jan 19, 2015 12:40 PM
    The phones are ringing off the hook at Century 21 Langos and Christian in Mount Prospect. "We had a great October through December in 2014 and we are expecting 2015 to be even better because the market is strong,” said Roseann Schumacher, broker and owner.

  • Inverness Hills in neighborhood profile Jan 16, 2015 12:01 AM
    With their home looking out on a natural preserve, Susan and Gregg Kobeski have the best entertainment in their own backyard in Inverness Hills: gorgeous sunsets, deer visiting near their back patio or in their driveway, and picturesque views.

  • Foreclosures fell in 2014 to levels before housing bust Jan 15, 2015 9:42 AM
    A healthier U.S. housing market and economy helped to winnow foreclosures in 2014 to levels not seen since before the housing bust. The decline is the latest evidence of how foreclosures have diminished in recent years from a national crisis to a largely market-specific concern.

  • Geneva schools favor property tax rebate to attract factory Jan 13, 2015 9:14 AM
    Geneva school board members favor offering a property tax rebate incentive to attract a filtration factory to a site in Batavia, under a tentative intergovernmental agreement the board approved Monday.

  • District 128 to buy house near Libertyville High Jan 13, 2015 9:30 AM
    With their collective eye on creating more athletic fields, Libertyville-Vernon Hills Area High School District 128 officials on Monday agreed to buy a house across the street from Libertyville High.

  • Homeless housing plan outside Lake Zurich raises fears Jan 12, 2015 10:36 PM
    Concerns about additional crime and a drop in property values were among those expressed by Lake Zurich-area residents at an information meeting Monday night on plan to move rental housing for chronically homeless people with mental illness from North Chicago to a residential neighborhood just outside the village.

  • Decision nears on Lisle apartment complex proposal Jan 12, 2015 4:41 PM
    Lisle trustees are expected to take a final vote in two to three months on a plan to build an apartment and retail complex on the former village hall site at Main Street and Burlington Avenue. “We like the project,” Mayor Joseph Broda said. “It’s something that we really need for the downtown area.”

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