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Bolingbrook OKs Stimulus Plan for Stalled Housing Development

Credit: File photo
Credit: File photo
The Bolingbrook Village Board on Tuesday approved a plan to slash prices  on lots — in some cases, by 50 percent — in an attempt to jumpstart sales in the village-funded Americana Estates development.

Not a single lot has sold in the development, located adjacent to Bolingbrook Golf Club, since 2005, according to the Chicago Tribune.

Under the pilot sales plan, lots within a designated section of the development will sell for $60,000 each, compared with the 2005 pricing of $120,000 to $300,000.

Lots sold at the lower prices that have building permits issued within six months will be exempt from the village's $12,000 sewer tap-on fee.

Half of the village fee will be waived if a model home is constructed on a discounted-price lot, as long as a building permit is issued within six months to one year after closing, according to the Tribune.

Developer DJK Homes touts the development as a custom-home community with home sites of at least 1/3 of an acre, advertising, "Enjoy stunning views of the award winning Bolingbrook Country Club and Golf Course."

Resurrected May 28, 2014 at 03:14 PM
Section 8 housing
Verbal Sniper May 28, 2014 at 08:45 PM
Prices were starting in the low 600's.Nobody was willing to pay that to live in Bolingbrook.

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