Suburban Chicago homebuilders talking about land again
Dirt is starting to catch the attention of suburban homebuilders again.
With their 2014 construction season winding down, the area’s large builders continue to pick up the lots of fallen competitors in established subdivisions, but they also are increasingly looking at raw land that first needs roads and utilities before homes can be built.
At first blush, their interest in undeveloped land doesn’t make much sense because there are still plenty of partially finished subdivisions in the Chicago area. But unlike 10 to 15 years ago, there are good lots and there are not-so-good lots, and many companies are ascribing to that old adage of “location, location, location.” That doesn’t bode well for homeowners living in some unfinished subdivisions on the outer fringes of the Chicago area…Please click here to read Mary Ellen Podmolik’s story in the Tribune.