Housing Market

With the passage of the 21st Century ROAD to Housing Act, Congress approved the first major housing legislation in three decades. Illinois housing experts react to what that means for Central Illinois.

The City of Bloomington will get help from the public service arm of a realtors organization to revitalize several west side neighborhoods. The Counselors of Real Estate Consulting Corps will send a team to survey a broad batch of community stakeholders and write a proposal.

Gov. JB Pritzker is pushing for statewide zoning changes to spark housing construction. Not everyone is jazzed about the proposal though.

McLean County's chief assessment officer will host four public information sessions to help clear up confusion over the difference between a property’s assessed value or market value — and how that relates to how much a taxpayer pays in property taxes.

While no new rentals can be made in areas marked as single-family residential in Normal, a five-year transition period for current STRs is included in the ordinance approved by the town council on Monday.

A plan to build a village of small cabins for unhoused individuals just south of downtown Bloomington received a green light Monday night from the city council.

Thursday's meeting was well attended by residents who live near the property that is currently used for farming.

The housing shortage in Bloomington-Normal is one of several factors that, if unchecked, could lead to economic stagnation, according to the agency charged with spurring the economy in the Twin Cities. There are signs it's already sapping growth.

There’s a new financing tool available in McLean County that could help nibble away at the size of the housing shortage in Bloomington Normal. It's called the Commercial Property Assessed Clean Energy Program or C-PACE.

Government efforts to address the Bloomington-Normal housing shortage are a work in progress. Every little effort to make it more attractive to develop helps.