New Lenox approves new housing
City officials in New Lenox approved the preliminary plans for what would be one of the largest new developments in the area.
During the meeting held on Monday, developers presented plans for a 230-acre development that would include commercial space, multi-family housing, and single-family homes. A total of 12 acres of parks would also be built in the community.
The development would be one of the first transit oriented developments on the Southwest line of the Metra. However, city officials did question whether the current service on the line would be enough to cater to a development of this size. There are currently only two trains running to downtown in the morning.
The development would offer a total of 950 residences, with a mix of homes, townhomes, and condominiums available. 60 acres of commercial space will also be built in the development.
Sales of condos in the area dropped sharply during the third quarter. Just 16 units were sold during the quarter, down 50 percent from the same period in 2006. However, when completed, the development will offer premier Chicago Condos For Sale in a neighborhood that is well connected with downtown Chicago.
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