Around Naperville

Introdusing...napervillevalues.com

Greetings everyone!  On napervillevalues.com you will find the most up-to-date statistical data and discussion for real estate in Naperville, IL.  This includes but is not limited to property values, market times, closed sales as well as current market activity.  If you have questions please feel free to contact me!

And as always,  If you are considering a move or know of someone who is and would like a free market evaluation or require relocation assistance in the Chicagoland area or anywhere in the world, please call DAN JUNGCLAS of RE/MAX of Naperville at 630.712.1855.  Please ask for me specifically.  I provide these without fee or obligation, and all inquiries are held in the strictest of confidence.  My business is based upon referrals and the finest compliment I can ever receive is a referral from my friends, neighbors, and customers.

Construction Alerts

Construction Alerts provide weekly updates on major projects, contracted by the City of Naperville, that require long-term full or partial lane closure. The City does it's best to post construction projects at least one week prior to the construction start date. However, due to unforeseen scheduling and technical difficulties this may not always be possible.  Any questions or comments should be directed to the Department of Transportation, Engineering and Development at (630) 420-6100 or by clicking here.

For information on local state highway improvements, visit the Illinois Department of Transportation online at www.dot.state.il.us .

Election 2007 Primary Results

Check out the Naperville Primary Results! 

Don't Forget to VOTE!!!!!

HONEY, STOP THE CAR!

941 LEHIGH
Walnut Ridge
Naperville, IL 60565

$524,941

OPPORTUNITY KNOCKS! INCREDIBLE VALUE! SOUGHT AFTER NEIGHBORHOOD! STUNNING, CONVENIENT LOCATION CLOSE TO PARK! NEUTRAL INTERIOR, PLENTY OF UPGRADES, PRISTINE INSIDE & OUT! 203 SCHOOLS  STUNNING, PRISTINE INTERIOR WITH GORGEOUS GOURMET KITCHEN, SPECTACULAR MASTER BEDROOM & LUXURY MASTER BEDROOM BATH.  INVITING FAMILY ROOM WITH BRICK FIREPLACE THAT OPENS TO AN IN CREDIBLE ENCLOSED PORCH & PARK LIKE SETTING!  LARGE SIZED BEDROOMS & A BEAUTIFUL FINISHED BASEMENT.  THERE ARE JUST TOO MANY UPGRADES TO LIST.  THIS IS ONE YOU MUST SEE FOR YOURSELF!

CLICK HERE FOR ADDITIONAL INFORMATION, PHOTOS, VIRTUAL TOURS & VIDEOS

Welcome Home Gina Glocksen

Naperville is planning a special event to welcome home American Idol finalist, Gina Glocksen. A rally to celebrate Gina’s homecoming will be held on Wednesday, April 11, 2007, at 3:30 p.m. at Pfeiffer Hall, 310 E. Benton Street, located on the campus of North Central College in Naperville, Illinois. Doors open at 3:00 p.m. Seating is limited and will be available on a first come first served basis. To read the press release, click here.

Target Resident Program

During the months of August and September, the city of Naperville updates its listing for the Target Resident Program. This free service, maintained by the fire department, records pertinent information about citizens who may require special consideration in emergencies. The program attempts to identify and register individuals with special needs stemming from life threatening medical conditions, significant physical or cognitive impairments, or extraordinary medical requirements for uninterrupted utility service. Through the use of a computer database, it allows 911 operators to relay this data to appropriate response personnel from the Police, Fire, Utilities, and Public Works Departments in an emergency. Participation in the program is strictly voluntary. Current participants are asked to update and revalidate their registration by September 30 of each year. New registrants are always welcome. 

Naperville residents may register for the Target Resident Program by filling out a registration form, available by mail or at the following locations: Naperville Municipal Center, Social Services Division, 400 S. Eagle St.; Naperville Fire Department, Administration Office, 1380 Aurora Ave.; Naperville Police Department, Records Section, 1350 Aurora Ave. For more information, or to obtain a registration form by mail, contact District Chief Patrick Mullen of the Naperville Fire Department at 630-305-5900.

Napervile Ranking...

As Reported by Ted Slowik, City Editor for The Naperville Sun, Naperville median income ranks fourth among U.S. cities in its category

Naperville has one of the highest median household income levels among smaller cities in the nation, and its poverty rate ranks among the nation's lowest, according to a Census report released Tuesday.

The city's estimated median household income of $93,338 places it fourth among places with populations between 65,000 and 250,000 people. Naperville was outranked by three towns in California and is the only Midwestern city to place in the top 10.

The city's median household income is more than double the nation's median of $46,242 and far greater than the Illinois median of $50,260. Illinois ranked 14th, with New Jersey having the highest median household income at $61,672 and Mississippi having the lowest at $32,938.

Prior to Tuesday, the city's median household income was reported as the highest in the nation among cities of 100,000 or more, at $88,771, based on 2000 Census data.

Naperville's poverty rate of 2.5 percent is third-lowest among places in the 65,000 to 250,000 population range. Only Weston, Fla. (1.5 percent), and Frisco, Texas (2.1 percent), reported lower poverty rates, according to the 2005 American Community Survey.

The survey is a relatively new Census tool designed to provide detailed demographic, socioeconomic and housing data in a more timely fashion than the 10-year Census reports. For the 2005 survey, about 3 million households were sampled nationwide.

The survey says 38.2 million people, or 13.3 percent of the nation's population, live below the poverty line. Illinois had the 23rd-lowest poverty rate, at 12 percent. New Hampshire's rate was the lowest at 7.5 percent, and Mississippi's was the highest at 21.3 percent.

Median household income

Pleasanton, CA $101,022

Newport Beach, CA $97,428

Livermore, CA $96,632

NAPERVILLE, IL $96,338

Chino Hills, CA $93,133

Newton, MA $91,746

Mission Viejo, CA $90,855

Thousand Oaks, CA $90,503

Sugar Land, TX $86,231

Redondo Beach, CA $85,594

Poverty rate

Weston, FL 1.5%

Frisco, TX 2.1%

NAPERVILLE, IL 2.5%

Livonia, MI 2.5%

Redondo Beach, CA 2.6%

Arlington Heights, IL 2.7%

O'Fallon, MO 2.7%

Elk Grove, CA 2.8%

Chino Hills, CA 2.9%

Roswell, GA 3.0%

Naperville Executes New Wholesale Electric Power Contract

The City of Naperville awarded the purchase of a new wholesale electric power contract on Friday, July 7.  The City Council awarded the contract to J. Aron and Company/Goldman Sachs (J. Aron) for a length of four years.

Naperville's current wholesale contract with Commonwealth Edison, which is set to expire May 31, 2007, calls for a 15.4 percent increase ($43.40 per megawatt/hour to $50.10 per megawatt/hour) on January 1, 2007.  The city's new contract with J. Aron will raise Naperville's wholesale rate to $60.49 - an additional 20.7 percent increase.  That rate goes into effect on June 1, 2007, and is locked in for the duration of the four-year contract through May 31, 2011.

Second-quarter single-family home sales by region

Region 2006-2005-Change

DuPage County 2,900 2,444 -15.7 percent

Will County 2,806 2,285 -18.6 percent

Grundy County 152 176 +15.8 percent

Kendall County 417 439 +5.3 percent

Chicago region 23,246 20,386 -12.3 percent

Illinois 37,345 34,728 -7.0 percent

- Source: Illinois Association of Realtors

Home sales decline in DuPage, Will counties

As reported by Bob Okon, Staff Writer for The Naperville Sun:

Sales of single-family homes dropped 15.7 percent in DuPage County and 18.6 percent in Will County in the second quarter from the previous year, according to a survey released Monday by the Illinois Association of Realtors.

The drop in home sales compared with the second quarter of 2005 reflected regional and national trends, although sales were up in Grundy and Kendall counties.

The rise in sales in Grundy and Kendall reflects situations unique to those smaller markets, said Chris Huecksteadt, director of Chicago market for Metrostudy, which monitors real estate activity.

"A lot of our major builders are reporting contracts off as much as 25 percent year-to-date compared to year-to-date last year," Huecksteadt said, "so it's no doubt the real estate market for used and new homes has slowed down significantly throughout the Chicago market."

The Association of Realtors primarily covers sales of existing homes.

Sales in Grundy County were up 15.8 percent, and Kendall County sales increased 5.3 percent.

But the entire Chicago region showed a 12.3 percent drop in sales.

Rising mortgage rates and record sales a year ago were important factors in the statewide drop-off in sales, said Stan Sieron, president of the Association of Realtors.

But Sieron said a good job market and appreciation in home prices should lead to "a very moderate slowdown."

As reported by Bob Okon, Staff Writer for The Naperville Sun:

Sales of single-family homes dropped 15.7 percent in DuPage County and 18.6 percent in Will County in the second quarter from the previous year, according to a survey released Monday by the Illinois Association of Realtors.

The drop in home sales compared with the second quarter of 2005 reflected regional and national trends, although sales were up in Grundy and Kendall counties.

The rise in sales in Grundy and Kendall reflects situations unique to those smaller markets, said Chris Huecksteadt, director of Chicago market for Metrostudy, which monitors real estate activity.

"A lot of our major builders are reporting contracts off as much as 25 percent year-to-date compared to year-to-date last year," Huecksteadt said, "so it's no doubt the real estate market for used and new homes has slowed down significantly throughout the Chicago market."

The Association of Realtors primarily covers sales of existing homes.

Sales in Grundy County were up 15.8 percent, and Kendall County sales increased 5.3 percent.

But the entire Chicago region showed a 12.3 percent drop in sales.

Rising mortgage rates and record sales a year ago were important factors in the statewide drop-off in sales, said Stan Sieron, president of the Association of Realtors.

But Sieron said a good job market and appreciation in home prices should lead to "a very moderate slowdown."

Widening Income Gap To Wreak Havoc On Consumer Confidence

Inman News reported:  Home-buying plans fall to 15-year low, survey finds...

Although the overall level of consumer confidence was unchanged in July, it masked a growing divergence between the rich and the poor, according to a survey released today.

The Index of Consumer Sentiment was 84.7 in the July 2006 survey, nearly identical with the 84.9 in June, but well below the 96.5 recorded in July 2005, according to the University of Michigan's Survey of Consumers. Current economic conditions were judged slightly less favorably, largely due to the impact of gas prices, although both current and expected economic conditions were judged much less favorably than a year ago.

"Higher prices have driven a wedge between upper- and lower-income households that now extends well beyond their personal financial situation," according to Richard Curtin, director of the survey. Comparing households in the lower one-third of the income distribution with those in the top third, the difference in the overall measure of consumer sentiment was larger than any time since the early 1980s, according to the survey.

"Households in the bottom third of the income distribution held significantly more negative views about their own financial prospects as well as a more negative outlook for employment and economic growth," Curtin said.

The Index of Consumer Expectations, a closely watched component of the Index of Leading Economic Indicators, rose slightly to 72.5 in July from 72 in June, but significantly below the 85.5 recorded in July 2005. In comparison, the Current Economic Conditions Index fell to 103.5 in July, down from 105 in June, and was significantly below the 113.5 in June 2005.

The gap between income groups is quite different than anything observed in the prior half century, the survey found. In the past, the gap grew in size immediately following a recession, as upper-income households were quicker to recognize and benefit from an improving economy. "The current situation is exactly the opposite, as the gap is now due to lower-income households voicing much less favorable economic expectations when the economy is closer to the expansion's peak," Curtin noted.

A worsening financial situation was reported twice as frequently among the bottom third compared with the top third of the income distribution, with complaints about high prices voiced nearly three times as frequently. "When asked about their financial prospects for the year ahead, half of all families in the lowest third of the income distribution expected declines in their inflation-adjusted incomes, twice as frequently as among families with incomes in the top third," Curtin said.

Buying plans for homes, vehicles and large household durable goods were all lower in the July 2006 survey than a year ago. Home-buying plans posted the largest loss, falling to a 15-year low. Although vehicle buying plans increased slightly in July due to aggressive end-of-model-year discounts, they remain significantly below the year-earlier levels.

The latest data on consumer confidence is consistent with a growth rate in real consumer spending that averages about 2.5 percent during the next four quarters. "The growth rate in spending will slow over the next four quarters, and be quite uneven across products that appeal to different income groups," said Curtin.