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Jeannie LaPlaca

In slow market, sellers can use location to their advantage

Having been in the real estate business for the past 25 years, I have witnessed all kinds of ups and downs in the market. One of the trends that I have noticed is that even when the market is slow, the demand for property that is near public transportation and expressways will be higher than most -- even when it comes to rentals.

That means good news for many sellers in the western suburbs of Chicago. Hinsdale, Clarendon Hills, Westmont, Downers Grove, La Grange...all of these towns have walk-to-train locations that are ideal for commuters working in the city and living in the burbs. The Metra's Burlington Northern Santa Fe line runs right through these neighborhoods. Properties further away from public transportation can still use their location as an asset -- convenience to major thoroughfares (I-294, -290, -55, -355) is a major selling point for many buyers.

Walk-to-town, -train, -shopping, etc towns such as Brookfield, La Grange, LaGrange Park, Western Springs, Hinsdale, Clarendon Hills, Westmont, Downers Grove, Lisle, Naperville, Elmhurst, Lombard, are just a few examples of villages that have this appeal. Many towns less conveniently located require parking permits, which can take a long time to acquire.

The appeal to buyers goes beyond convenience -- nearness to public transportation has environmental benefits, and taking the train puts less strain on the wallet when gas prices start to climb (keeping in mind that the Chicagoland area has some of the highest gas prices in the country!!). Typically, the train ride to and from Chicago during rush hour (either Union Station or Northwestern) is only between 20-45 minutes.