Suburban Development News (DuPage, Lake, McHenry, Kane, Will, and More) - Page 21

nomarandlee · July 26th, 2012, 03:37 AM

Not development but...........

Quote:

http://www.chicagotribune.com/news/l...,3492950.story

Three towns top DePaul's list of commuter-friendly suburbs

By Richard Wronski

Tribune reporter

3:15 p.m. CDT, July 25, 2012

La Grange, Wilmette and Arlington Heights were ranked at the top of a list of Chicago’s commuter-friendliest suburbs, according to a new study out today from DePaul University.

The report evaluated the region’s suburbs on the basis of their attractiveness to those with lifestyles oriented toward the use of public transportation.

Researchers at DePaul’s Chaddick Institute for Metropolitan Development developed an index consisting of 47 measurable factors used to identify the top 20 transit suburbs of metropolitan Chicago.

The report rated the suburbs according to three main criteria: commuter-rail service available seven days a week, with at least 14 inbound departures on weekdays, including some express trains; used by at least 150 people who walk or bike to the train daily; and a as measured by “walk score” of how walkable the downtown stations were ranked.

“We wanted to reward communities that are creating great transit environments, but we also wanted to prod communities to start worrying about the small things that make commuters’ lives miserable or difficult,” said Joseph Schwieterman, a DePaul professor who authored the study..........

MORE IN LINK

The Report

http://www.toptransitsuburbs.com/

nomarandlee · August 2nd, 2012, 07:54 PM

Quote:

http://www.chicagotribune.com/busine...261852.graphic

Luxury apartments making moves in suburbs
Developers are breaking ground on suburban apartment complexes that have loads of amenities and high rents

........Apartment complexes now under construction — including Wheaton 121, Arboretum Landmark in Lisle, Amli Evanston and Ninety7Fifty on the Park in Orland Park — as well as others still in the planning stage promise to bring a long list of bells and whistles to the suburbs. Monthly rents for most units will start at $1,000 and top out at more than $2,000.

Developers will complete 1,100 apartment units in the Chicago area this year, compared with fewer than 300 last year, and most will be within Chicago. Going forward, with investor interest in the apartment segment keen, there are about 7,000 rental units planned in the suburbs and 15,000 in Chicago, according to Marcus & Millichap.........

During the year's first quarter, nearly 95 percent of suburban apartments were occupied, and that strong demand has pushed up rents and shrunk considerably the number of apartment communities offering concessions to attract tenants, according to Appraisal Research Counselors.

Despite the coming additions to the market, industry watchers and the companies fueling the growth don't see an apartment construction bubble on the horizon because of the sheer size of the renter population...........

''There might be a lot of construction in (Chicago)," Strosberg said. "There hasn't been virtually anything in the suburban market in a long time. There's been negative growth of rental communities in the suburbs because of the conversion of so many rental units into condos."........

http://www.chicagotribune.com

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