Rate of new home construction in Illinois ranks near bottom nationally – Center Square

2 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
debtsor
6 years ago

Most new in-fill construction (as opposed to exurban new subdivisions) is ‘luxury’ and costs upwards of a million dollars with taxes reflecting this premium. My neighborhood specifically has the smallest lot size of 50×125 selling in the $300,000’s as tear downs, and mcmansion monstrosities arise in their place, costing upwards of 7 figures. No wonder new construction is so low in Illinois, builders, at least for infill, only target one market segment. I can’t speak for the exurban areas, but from what I can tell, they’re still trying to unload the lots from the last bust out far in the… Read more »

debtsor
6 years ago

I recently saw a new construction property that had taxes double in 7 years from $7,000 to $14,000. It’s for sale of course, the owners doesn’t want to get stuck holding the bag!

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE