Real Estate

A typical homeowner in Illinois is paying almost $1,000 more per year for home insurance, an increase that also impacts potential homebuyers.

Foreign investors owned about 46 million acres of U.S. farmland in 2023 — which is less than 4% of all American farmland, according to a recent report. The data comes as more states consider limiting foreign ownership of agricultural land.

The 42-acre estate off Route 66 in Lexington has been on the market for nearly a year. Luxury auctioneer Concierge Auctions will collect online bids beginning Aug. 9.

The Normal Township Board has picked a new township aasessor. Kent DePew, who has 30 years of experience in assessor offices, has been deputy assessor in Normal for 21 years and has been a deputy assessor in Bloomington.

A 279-acre property in northwest Normal will soon be even more appealing to commercial buyers looking for a prime spot near Rivian and the interstates.

The Bloomington Planning Commission on Wednesday voted unanimously to advance a plan for a new housing development near Rivian on the community’s far west edge.

Homebuilders in Bloomington-Normal are playing catch up in meeting the growth of the last decade, the more recent expansion of the labor market, and projected future growth.

Bloomington and Normal issued a combined 244 permits for new home construction in 2022. That’s up 51% from the year before, with more building planned for 2023.

A Black Illinois homeowner claims State Farm practices covert racial discrimination in how it processes claims. “State Farm does not treat its Black and white homeowners insurance policyholders equally,” states a federal lawsuit filed by Jacqueline Huskey of Matteson in south suburban Chicago.

There’s a lot more to the Bloomington-Normal real estate market than single-family homes. The commercial market includes office space, retail, industrial, and big apartments. And it's on its own cycle, typically following the residential market but several months behind.