REAL, the university’s Regional Economics Applications Laboratory, Hewings tracks residential real estate across the state; his forecasts are part of the Illinois Association of Realtors’ periodic reports. In the organization’s latest report, released at the end of July, Hewings predicted that...

" /> REAL, the university’s Regional Economics Applications Laboratory, Hewings tracks residential real estate across the state; his forecasts are part of the Illinois Association of Realtors’ periodic reports. In the organization’s latest report, released at the end of July, Hewings predicted that...

" /> REAL, the university’s Regional Economics Applications Laboratory, Hewings tracks residential real estate across the state; his forecasts are part of the Illinois Association of Realtors’ periodic reports. In the organization’s latest report, released at the end of July, Hewings predicted that...

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Housing Bulletin— A Gloomy Forecast from the University of Illinois’ Geoffrey Hewings

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On Monday I talked with Geoffrey Hewings, a professor of geography, economics, and urban and regional planning at the University of Illinois at Urbana-Champaign. The director of REAL, the university’s Regional Economics Applications Laboratory, Hewings tracks residential real estate across the state; his forecasts are part of the Illinois Association of Realtors’ periodic reports. In the organization’s latest report, released at the end of July, Hewings predicted that…

Sale of the Week—Surf and Turf in Lake View

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List Price: $2,349,000
Sale Price: $2,235,000
The Property: One of ten new high-end houses that front on a private greensward where a street would ordinarily be, this 13-room Italianate brick house has six bedrooms, five-plus baths, and two fireplaces. An 11th house that also shares the common green, along with a clubhouse with a swimming pool and…

Housing Bulletin—Inventive Incentives

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What’s keeping people from buying homes right now? Are they worried that a property’s value will drop after they buy it? Or are they wondering what will happen to the economy when we have a new president? Or maybe they are scared that if they buy a condo, they won’t be allowed to swim naked in the…

On The Market—A Big Green Rehab in Highland Park

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List price: $2.8 million
The Property: With an indoor pool, a typically hard-to-heat two-story living room and foyer, and a total of 9,000 square feet of indoor space, this Highland Park house used to be an energy hog. But thanks to the installation of solar and geothermal energy collectors, it now consumes a…

Housing Bulletin—Behind the Fall in Round Lake

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In most of the Chicago area, the number of home sales is down about 30 to 40 percent this year, according to MRED, the real-estate data service. In the Round Lake section of Lake County, it’s down 77.9 percent. That means only a little more than one-fifth as many houses have sold there in the past 12 months as did in the prior year. And some agents in town say…

On The Market—Spacious Cape Cod in Wilmette

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List Price: $1,099,000
The Property: Unlike ostentatious new houses that flaunt their thousands of square feet with soaring roofs and phallic turrets, this Cape Cod–style house in Wilmette is a classic 1950s exercise in self-restraint, with a taupe exterior and a sheltered porch. The broad, low-hanging roof suggests a modest house huddles beneath, but, in fact, there are…