Illinois State Government and Public Real Estate News

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 »

Number of home on market improves, but inventories remain tight

SPRINGFIELD, Ill. – April 22, 2014 – (RealEstateRama) — Illinois home sales decreased 11.6 percent over previous-year levels in March while median prices increased 9.7 percent, according to the Illinois Association of REALTORS®. more »

SPRINGFIELD – April 3, 2014 – (RealEstateRama) — Illinois EPA Director Lisa Bonnett today, as part of the Agency’s Earth Month activities, announced household hazardous waste collections have been scheduled in eight communities for spring 2014.  Through household hazardous waste collections, citizens are given the opportunity to safely dispose of unused or leftover household products commonly found in homes, basements and garages.  Today’s announcement is part of Governor Quinn’s agenda to protect our natural resources and ensure a clean and healthy environment for future generations. more »

‘Welcome Home Illinois’ Loan Program Offers $7,500 in Down-Payment Assistance with Below-Market Interest Rate to Make Homeownership a Reality

SPRINGFIELD – April 2, 2014 – (RealEstateRama) — Governor Pat Quinn today announced his new Welcome Home Illinois loan program to help make homeownership a reality for Illinois’ first-time home buyers. The program provides $7,500 in down-payment assistance with an interest rate as low as 3.99 percent for a secure, 30-year fixed rate mortgage. Today’s announcement is part of Governor Quinn’s agenda to drive economic growth by making homeownership more affordable in Illinois. more »

Proposes Significant Property Tax Relief for Homeowners and Highest Investment in Education in Illinois History

SPRINGFIELD – March 27, 2014 – (RealEstateRama) — Governor Quinn today proposed his Fiscal Year 2015 Budget, “Securing Illinois’ Financial Future.” The Governor’s address detailed an honest and responsible budget for the next fiscal year along with a five-year blueprint that will secure the state’s finances for the long-term, provide significant tax relief to homeowners and working families and invest like never before in education and early childhood. more »

Up to $30 Million in Federal Resources to Eliminate Blighted Properties, Provide Fiscal Boost to Neighborhoods

CHICAGO – March 27, 2014 – (RealEstateRama) — Governor Pat Quinn today announced the U.S. Department of the Treasury will support the Illinois Housing Development Authority (IHDA) efforts to leverage up to $30 million of its federal Hardest Hit Fund (HHF) resources to eliminate blight in communities throughout the state. Today’s announcement is part of Governor Quinn’s commitment to stabilize neighborhoods and return vacant properties to productive use to advance the economy. more »

CHICAGO – March 25, 2014 – (RealEstateRama) — Pircher, Nichols & Meeks, a national real estate law firm with offices in Chicago and Los Angeles, announced that C.J. Loos has joined the firm as a new associate in the Chicago office. Ms. Loos’ background includes a variety of legal projects, with emphasis on corporate and real estate law. more »

SPRINGFIELD, Ill. – March 20, 2014 – (RealEstateRama) — Illinois home sales decreased 6.2 percent over previous-year levels in February while median prices increased 6.9 percent, according to the Illinois Association of REALTORS®.

Statewide home sales (including single-family homes and condominiums) in February 2014 totaled 7,868 homes sold, down from 8,388 in February 2013. The number of houses on the market in February was down 19.2 percent compared to a year earlier, dropping from 70,053 homes for sale in February 2013 to 56,620 this year. more »

Related Midwest’s $180 Million Investment in Long-Vacant Building Has Created More Than 1,000 Construction Jobs

CHICAGO – March 19, 2014 – (RealEstateRama) — Governor Pat Quinn today saluted the developers and workers on the 111 W. Wacker project in downtown Chicago. The $180 million project by Related Midwest has employed more than 1,000 skilled construction workers and is transforming a long-vacant and partially-completed building into a new residential tower. Today’s event is part of Governor Quinn’s agenda to create jobs and drive Illinois’ economy forward. more »

WASHINGTON – March 13, 2014 – (RealEstateRama) — U.S. Senator Mark Kirk (R-Ill.) today released the following statement regarding the housing finance reform agreement announced by Senate Banking Committee Chairman Tim Johnson (D-S.D.) and Ranking Member Mike Crapo (R-Idaho): more »

BLOOMINGDALE, Ill. – February 26, 2014 – (RealEstateRama) — & Associates, the largest broker-owned commercial real estate firm in the country, has negotiated a 10-year, $5 million lease for a 110,063-square-foot industrial property located at 171 Covington Drive in Bloomingdale, Ill. more »

SPRINGFIELD, Ill. – February 21, 2014 – (RealEstateRama) — The polar vortex and lower inventory levels may have affected January home sales which dipped 7.5 percent compared to last year, but median home prices climbed 9.6 percent over previous-year levels, according to the Illinois Association of REALTORS®. more »

CHICAGO – February 20, 2014 – (RealEstateRama) — Lee & Associates, the largest broker-owned commercial real estate firm in the country, has announced that Terry Grapenthin, a 13 year veteran who specializes in industrial brokerage, has joined the firm’s Illinois office as a principal. more »

U.S. Green Building Council Ranks Illinois Number One in the Sustainable Building Design Movement

CHICAGO – February 19, 2014 – (RealEstateRama) — Governor Pat Quinn today announced that the U.S. Green Building Council has ranked Illinois number one among all 50 states in the sustainable building design movement. Illinois has more than 29 million square feet of certified green buildings, or 2.29 square feet for every resident. Today’s announcement is part of Governor Quinn’s agenda to ensure a clean and healthy environment for future generations. more »

Illinois Housing Development Authority provides crucial funding to build Emerald Ridge and create 80 local jobs

EAST ALTON – February 10, 2014 – (RealEstateRama) — In one year, a new development of 46 new rental single-family homes for working families will open on the former site of a World War II-era development known as the “Defense Area” properties of East Alton. more »

 
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