Illinois State Government and Public Real Estate News

SPRINGFIELD, Ill. – August 21, 2014 – (RealEstateRama) — Illinois home prices rose again in July, marking nearly two years of annual gains. Home sales dipped as tight credit standards and lower, but improving inventory levels continue to affect the market, according to the Illinois Association of REALTORS®. more »

Washington, DC – August 1, 2014 – (RealEstateRama) — U.S. Representative Randy Hultgren (IL-14) this week voted to support two bills which will relieve community banks from excessive regulations and protect their ability to lend to Illinois homeowners. H.R. 4042, the Community Bank Mortgage Service Asset Capital Requirements Study Act of 2014, and H.R. 5148, the Access to Affordable Mortgages Act of 2014, both passed the House Financial Services Committee (FSC), of which Rep. Hultgren is a member. more »

SPRINGFIELD, Ill. – July 23, 2014 – (RealEstateRama) — Illinois home sales reversed course in June with statewide home sales experiencing a slight year-over-year gain for the first time this year. Home prices continued to climb and marked the 22nd consecutive month of annual increases, according to the Illinois Association of REALTORS®. more »

WASHINGTON, D.C. – July 15, 2014 – (RealEstateRama) — U.S. Senator Dick Durbin (D-IL), Illinois Governor Pat Quinn, Chicago Mayor Rahm Emanuel and Cook County Board President Toni Preckwinkle today announced that the Chicago area has been awarded a total of $31.475 million in funding through the U.S. Department of Housing and Urban Affairs’ (HUD) Community Development Block Grant Disaster Recovery Program. This funding was made available through the FY2013 Sandy Supplemental Appropriations Bill, passed by Congress last year, and is part of a third allocation for communities that are continuing recovery efforts following severe storms and flooding that began on April 18, 2013. more »

NORTHBROOK, Ill. /LOS ANGELES – June 30, 2014 – (RealEstateRama) — Westwood Financial Corp. (WFC), one of the largest privately held owner-operators of retail properties in the United States and headquartered in Los Angeles, has announced that Joe Caputo & Sons, a family-owned and operated fresh-market grocer, has opened as the new anchor, occupying 66,395 square feet, at WFC’s Sanders Court center in Northbrook, Ill. more »

Since Taking Office Governor Quinn Has Achieved $220 Million in State Savings by Eliminating More Than 2.5 Million Square Feet of Leased Space – Equivalent to Emptying Out Chicago’s Trump Tower

CHICAGO – June 24, 2014 – (RealEstateRama) — As part of his ongoing budget review, Governor Quinn today announced that the state of Illinois had again cut property leases to save an additional $55 million by continuing to downsize the space it leases in the upcoming fiscal year. This brings the total savings accomplished since the Governor took office to $220 million in property leases through consolidation, elimination or negotiation – roughly the equivalent of space in Chicago’s Trump Tower. more »

Washington, DC – June 23, 2014 – (RealEstateRama) — This Sunday, June 22, will mark the 70th anniversary of the GI Bill, which has given returning veterans a hand up with educational benefits, home loans and other services. The GI Bill has been one of the most successful pieces of legislation in our country’s history, growing our economy and helping veterans assimilate into civilian life. However, one glitch in the law is causing veterans to be denied the benefits they deserve. more »

SPRINGFIELD, Ill. – June 23, 2014 – (RealEstateRama) — May Illinois home prices rose 8.3 percent and home sales decreased 9.4 percent compared to May 2013, while the trend continues of recent month-over-month sales gains, according to the Illinois Association of REALTORS®. more »

Washington, D.C – May 23, 2014 – (RealEstateRama) — Today, Congresswoman Tammy Duckworth announced that the U.S. Department of Housing and Urban Development has awarded the DuPage Homeownership Center an $18,183 grant to support their efforts in providing a wide variety of housing counseling services to homebuyers, homeowners, low-to moderate-income renters, and the homeless. This funding will assist the DuPage Homeownership Center in improving financial literacy, expanding homeownership opportunities, providing accessibility to affordable housing, and preserving homeownership. more »

WASHINGTON – May 22, 2014 – (RealEstateRama) — Today, U.S. Representative Mike Quigley (IL-05) fought to expand federal housing assistance and protect funding and eligibility for vital infrastructure programs that improve the economy and support local communities, including projects in Chicago and Cook County. His efforts come as the House Appropriations Committee considers the FY15 Transportation, Housing and Urban Development (THUD) Appropriations bill. more »

SPRINGFIELD, Ill. – May 22, 2014 – (RealEstateRama) — Illinois home prices continued an upward trend with April marking 20 consecutive months of year-over-year gains. Tighter inventory continued to affect home sales, which decreased 7.8 percent over previous-year numbers, according to the Illinois Association of REALTORS®. more »

Washington, DC – May 21, 2014 – (RealEstateRama) — Today, Congressman Bill Foster (IL-11) voted for H.R. 3080, the Water Resources Reform and Development Act (WRRDA). The legislation will now be sent to the Senate for a final vote. WRRDA authorizes the Army Corps of Engineers to construct and maintain infrastructure on the Inland Waterways System. Several facilities in Illinois’ 11th District are funded through WRRDA, including the Brandon Road Lock and Dam. more »

WASHINGTON, D.C. – May 16, 2014 – (RealEstateRama) — U.S. Senator Mark Kirk (R-Ill.) released the following statement today prior to the banking subcommittee’s markup of Chairman Tim Johnson (D-S.D.) and Ranking Member Mike Crapo’s (R-Idaho) housing reform legislation: more »

Rebuilding Together Assists in Remodeling and Rebuilding Homes for Disabled Veterans; HAVEN Act Will Establish Pilot Program to Help Disabled Veterans Return to Their Homes

LA GRANGE, Ill. – May 12, 2014 – (RealEstateRama) — As veterans continue to return home with service-related injuries and disabilities, U.S. Sen. Mark Kirk (R-Ill.) today visited a newly refurbished home in La Grange, Ill., to announce his support for S. 1387, the HAVEN Act. This bill will create a pilot program under the Department of Housing and Urban Development to enhance ongoing efforts by nonprofit organizations that repair and refurbish homes for disabled and low-income veterans. These public-private partnerships will require a 50 percent match by the organization receiving the funds. more »

New analysis of prison diversion initiative shows 54 percent reduction in juvenile incarceration

CHICAGO – April 23, 2014 – (RealEstateRama) — The state of Illinois has diverted thousands of youth from prison and onto the right path, while saving $60 million in incarceration costs, according to the 2012-2013 Redeploy Illinois annual report recently released by the Illinois Department of Human Services (IDHS). more »

 
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