Noah Seidenberg, Coldwell Banker Evanston, Broker - Real Estate Specialist, offers information within his post that could prove especially helpful to Home Buyers considering a sale within Will County, as well as other Chicagoland areas.
Will County, and the City of Joliet in particular, has many historic areas within it ... the Upper Bluff area (National Register), the East Side National Register), and the Cathedral Area (Preservation Area) ... each is filled with beautiful and historic properties. Special concerns and regulations accompany the purchase of these homes and potential Home Buyers should be aware of them prior to entering into a transaction.
Noah Seidenberg raises some of the concerns for consideration within his post. Should you be a Home Buyer thinking of purchasing an older home or within a Historic area ... raise questions prior to signing your contract. Know what rules and regulations come with your home purchase.
Thanks to Noah Seidenberg for sharing his knowledge and expertise on this special segment of the real estate market ...
I feel very honored that Howard Handler of the NSBAR (North Shore Board of Realtors) quoted me in an article posted in their weekly newsletter today. This is regarding a historic landmark property that I made a comment about in support of the new home owners who found me online through blogging and called me. Some how my opinion got quoted in another blog and Howard called me asking if he could quote that. You see, there are a lot of certified Historic Landmark properties around here and many are not unknown. I live in one and there is a brass placard on the front door. There is good and bad that goes along with this. You cannot change the facade of the property without approval of the township and there are heavy duty guidelines on other issues such as windows in the mentioned issue. I am proud to live in a Landmark building and even more so to be quoted by someone so influential in our board which handles 1,000's of Realtors and many companies locally.
Historic preservation: Don’t be caught with your pants down by Howard Handler of NSBAR
"Recently, an Evanston couple made a harrowing discovery. After paying $70,000 for 26 windows, The couple, during the permit process, was informed that their home has been designated by the Citys historic and would be prohibited from installing the windows. After an appeal before the City’s Preservation Committee failed, the City Council, in a seven to two vote, overturned the denial. This scenario highlights an often overlooked issue – buyers of real estate unaware that their home, commercial property, or even vacant land has been designated historic.
For some, a historical designation carries prestige and the ability to help preserve the community’s history (not to mention available tax breaks). For others, not desiring to deal with any additional restrictions, a historical label can be burdensome and financially difficult. In either case, buyers should be aware in advance. “It’s very unfair for a person to purchase a home and not be notified of this,” says REALTOR Noah Seidenberg.
However, not all historical designations carry restrictions. For example, properties on the National Register of Historic Places do not automatically carry restrictions, but local municipalities may impose restrictions on properties that are on the National Register. Alternatively, a local community may adopt their own preservation ordinance, and more than 70 Illinois communities have.
How to determine if a property has been deemed historic can be a bit tricky. Various agencies can issue a designation, and there is not a single, up-to-the-minute source. However a good start would be both checking the Illinois Historic Preservation Agency’s Historic and Architectural Resources Geographic Information System (HARGIS) and calling the municipality and/or county the property is located.
Midwest Real Estate Data (MRED) also has an option, under the field “General Information, labeled “Historic District” – although MRED is in the process of reviewing the name and location of that option. REALTORS should consider utilizing this option for both their buyers and sellers. It’s also a great way for REALTORS to search specifically for historically important real estate.
It’s not just the prior homes of presidents and famous generals that are being designated historic; Evanston alone has more than 2,000 properties designated as historic. The last thing a REALTOR wants is a buyer pointing their finger at them, upset that they were not told in advance of their property’s historic designation. So do your homework before your client submits an offer."
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