Access to Chicago Metra Stations Increases Value of Suburban Homes
A recent article by Kay Severinsen from SearchChicago-Homes reports on a study done by RE/MAX on the value of suburban homes. The study found that access to public transit and the distance from downtown Chicago has a big impact on home prices. Towns near Metra train stations saw 10% more home sales than their auto-dependent counterparts in the first half of this year. Also, homes closer to Chicago did much better than homes in the outer ring of suburbs.
This study suggests that more Chicago suburbanites are seeing the costs associated with driving (especially driving into Chicago), as well as the value of living near public transit.