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Old 08-04-2016, 03:22 PM
 
1,517 posts, read 2,323,796 times
Reputation: 573

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Quote:
Originally Posted by My Kind Of Town View Post
Another big plus for DG is its lower property tax rate when compared to Wheaton. Might not seem like much of a difference (DG less by 0.53%) but that amounts to roughly $4k/year on a home valued at $750k. That's pretty substantial.

Compare your property tax rate (database) - Chicago Tribune
Thanks for the data. Downers has an [average] edge on taxes, but I think the figures paint a picture different than reality: there's lots of overlap. That 2.5% is way more than I or any of my neighbors pay in Wheaton, and it's not hard to find Wheaton rates on par with comps in Downers Grove...

Near the OP's budget and close to town center:

500 W. Union Avenue WHEATON, IL 60187 | Redfin
Price: $829,900
Tax: $13,340
Rate: 1.62%

210 W. Jefferson Avenue WHEATON, IL 60187 | Redfin
Price: $871,970
Tax: $14,015
Rate: 1.61%

604 N. Wheaton Avenue WHEATON, IL 60187 | Redfin
Price: $837,962
Tax: $14,671
Rate: 1.75%

3955 Douglas Road DOWNERS GROVE, IL 60515 | Redfin
Price: $850,000
Tax: $14,773
Rate: 1.74%

4614 Elm Street DOWNERS GROVE, IL 60515 | Redfin
Price: $779,000
Tax: $12,722
Rate: 1.63%

4085 Douglas Road DOWNERS GROVE, IL 60515| Redfin
Price: $752,500
Tax: $11,433
Rate: 1.52%

Inventories are extraordinarily thin at the OP's price point. If the OP is being forced to look outside that ultra-desirable first half mile from Downers' Metra platform, it may be time to widen the net and look at other town cores. A Downers' home that requires biking or driving to the platform is likely going to create a longer commute than a walking-distance home in towns like Wheaton or Glen Ellyn -- both of which I think offer a lot more to young families.
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Old 08-04-2016, 03:48 PM
 
3,468 posts, read 2,136,307 times
Reputation: 1929
Quote:
Originally Posted by holl1ngsworth View Post
Thanks for the data. Downers has an [average] edge on taxes, but I think the figures paint a picture different than reality: there's lots of overlap. That 2.5% is way more than I or any of my neighbors pay in Wheaton, and it's not hard to find Wheaton rates on par with comps in Downers Grove...

Near the OP's budget and close to town center:

500 W. Union Avenue WHEATON, IL 60187 | Redfin
Price: $829,900
Tax: $13,340
Rate: 1.62%

210 W. Jefferson Avenue WHEATON, IL 60187 | Redfin
Price: $871,970
Tax: $14,015
Rate: 1.61%

604 N. Wheaton Avenue WHEATON, IL 60187 | Redfin
Price: $837,962
Tax: $14,671
Rate: 1.75%

3955 Douglas Road DOWNERS GROVE, IL 60515 | Redfin
Price: $850,000
Tax: $14,773
Rate: 1.74%

4614 Elm Street DOWNERS GROVE, IL 60515 | Redfin
Price: $779,000
Tax: $12,722
Rate: 1.63%

4085 Douglas Road DOWNERS GROVE, IL 60515| Redfin
Price: $752,500
Tax: $11,433
Rate: 1.52%

Inventories are extraordinarily thin at the OP's price point. If the OP is being forced to look outside that ultra-desirable first half mile from Downers' Metra platform, it may be time to widen the net and look at other town cores. A Downers' home that requires biking or driving to the platform is likely going to create a longer commute than a walking-distance home in towns like Wheaton or Glen Ellyn -- both of which I think offer a lot more to young families.
Of course there are always outliers but I don't think anecdotal evidence is enough to say that Wheaton property tax rates are on par with Downers. The link provided says otherwise. And I don't disagree with the casting a wider net concept as I think all options should be explored before focusing in on one or a couple towns but maybe OP has already done that.
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Old 08-04-2016, 04:15 PM
 
1,517 posts, read 2,323,796 times
Reputation: 573
Quote:
Originally Posted by My Kind Of Town View Post
Of course there are always outliers but I don't think anecdotal evidence is enough to say that Wheaton property tax rates are on par with Downers. The link provided says otherwise. And I don't disagree with the casting a wider net concept as I think all options should be explored before focusing in on one or a couple towns but maybe OP has already done that.
The average Wheaton rate is higher than the average Downers rate. But the homes I linked to aren't anecdotal, they are real and current. And there are so many more examples of outliers that the Tribune's data table should be all but completely discounted as a tool for vetting. There's too much overlap to nix entire towns because of a few tenths spread on average tax rates.

Last edited by holl1ngsworth; 08-04-2016 at 05:04 PM..
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Old 08-04-2016, 04:21 PM
 
26 posts, read 59,404 times
Reputation: 21
Quote:
Originally Posted by holl1ngsworth View Post
Inventories are extraordinarily thin at the OP's price point. If the OP is being forced to look outside that ultra-desirable first half mile from Downers' Metra platform, it may be time to widen the net and look at other town cores. A Downers' home that requires biking or driving to the platform is likely going to create a longer commute than a walking-distance home in towns like Wheaton or Glen Ellyn -- both of which I think offer a lot more to young families.
OP here. On further analysis, budget is higher than originally stated. We can do right up to the $1mm mark. For example, we toured this house in DG, and found it to be essentially perfect: 1/2 mile to Belmont station (comfortable 10 minute walk), big yard, new construction, floor plan we love, in our price range, lovely neighborhood. Only problem is we didn't think we'd find the right location this soon, so weren't planning on moving until next summer. And even if I offered full asking price right now, closing typically takes 30-45 days, so then we're changing our kids' school after only a couple weeks, and we really don't want to do that.

Based on the comments above, I looked at the Wheaton Metra schedule, and it's just not as attractive (to me) as DG. That express from DG to Union Station is 27 minutes nonstop, and runs every 20 minutes in the morning from 7:00am to 8:00am. Add five minutes from the Belmont station. (And the extra five minutes from Belmont is a worthy trade due to the underground tunnels below the tracks. Coming from north of the tracks I have to cross them to catch in the inbound train. For the times when I'm running one minute late, crossing the tracks is out of the question---unless there's a tunnel!) Not saying we're writing Wheaton off, but on the surface, the commute makes it less appealing.

As far as property taxes goes: we're paying Chicago property taxes now plus private school tuition. Every house we've looked at in the burbs (even the ones 20% over our budget) have taxes that are at most the same as current taxes plus tuition. Granted the lowest possible tax bill is best; but just about anywhere we'll end up will be better than what we have now. And, private school tuition apparently isn't tax-deductible, but property taxes are.
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Old 08-04-2016, 05:01 PM
 
28,455 posts, read 84,928,817 times
Reputation: 18723
Um, the home highlighted, while not technically overpriced given that it is new construction, really is in a much high price category than is customary for that part of Downers Grove. I would caution that you can get a very similar home in a more desirable part of Downers Grove or even in a more desirable town like Hinsdale or Clarendon Hills which have better train options even non-express for less money...

I also have to laugh that somebody suggests the Belmont underpass is a "plus". The way the trains work is that when you board the BNSF inbound it is on the south side of the tracks, but unless somebody is truly a world class stair climber there is no way they can race up their while the train at the platform -- Metra conductors are notorious for "keeping the schedule and letting the slow pokes wait for the next train". The relative pleasantness of being closer to the Main St or Fairview stops is generally viewed to be a nicer neighborhood.

The overall sentiment from my friends that are still doing real estate full time is that prices have experienced pressure at the upper reaches. I would not worry that a $975K on the market for several years will be scooped anytime soon...

If you really want to start with the kids in school it is 100% legal to move into a hotel in / near the district.
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Old 08-04-2016, 05:35 PM
 
26 posts, read 59,404 times
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Quote:
Originally Posted by chet everett View Post
Um, the home highlighted, while not technically overpriced given that it is new construction, really is in a much high price category than is customary for that part of Downers Grove.
In that general area, bordered by Chicago, Main, Warren and Belmont, there are plenty of $1mm and up homes. Whether or not that particular house is worth the asking price is debatable, but there is definitely no shortage of $900k plus homes in that neighborhood. Walking distance to the Metra alone is to me worth $100k, maybe more.

Quote:
Originally Posted by chet everett View Post
Hinsdale or Clarendon Hills which have better train options even non-express for less money...
I don't agree with that. The direct express Hinsdale to downtown trains are faster than the DG direct express (22 vs 27 minutes). But the Hinsdale direct express trains are fewer/less frequent. The partial-express trains from Hinsdale to downtown are longer than the DG direct-express. Local trains are 56 versus 44. So, I would agree that on average the Hinsdale trains are better. But given that the DG direct-express are available every 20 minutes during my prime time, and they are faster than all but infrequent Hinsdale direct express, I give DG the edge here. Depends on what one's work schedule looks like, but DG aligns with mine particularly well.

Besides, find me a house in Hinsdale that is (1) walking distance to the Metra, (2) reasonably new, (3) on a 60x200 lot, (4) under 4000 square feet, and (5) $1mm or less.

Quote:
Originally Posted by chet everett View Post
there is no way they can race up their while the train at the platform -- Metra conductors are notorious for "keeping the schedule and letting the slow pokes wait for the next train".
I didn't mean I could race up the stairs while the train was there. But you can't cross the tracks even when the train is approaching. I mean, technically you can, but once the bells are ringing the "no crossing" arms come down, it's illegal to cross. This is the point I'm talking about, where the tunnel is a plus. That's why walking to the train is such a huge perk: it's far more deterministic than driving. If you drive to the train, you have to add a lot of time for all the possible contingencies (parking, traffic, etc). With walking you can time it right down to the minute. So if I have to cross the tracks on foot, I have to get there early enough to cross before the bells start ringing... unless there's a tunnel.

In short, the tunnel means you can still cross the tracks in that time between when the bells start ringing and when the train actually stops and opens its doors.
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Old 08-04-2016, 05:53 PM
 
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I don't think that Hinsdale and Clarendon Hills near the train will be less than the house you found. I do think you can find a nice house in A more desirable part of DG
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Old 08-05-2016, 08:26 AM
 
26 posts, read 59,404 times
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Quote:
Originally Posted by 4122 View Post
I don't think that Hinsdale and Clarendon Hills near the train will be less than the house you found. I do think you can find a nice house in A more desirable part of DG
What makes the other parts of DG more desirable?
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Old 08-05-2016, 09:35 AM
 
28,455 posts, read 84,928,817 times
Reputation: 18723
Quote:
Originally Posted by ConcreteRooster View Post
What makes the other parts of DG more desirable?

Historically the most desirable part of Downers Grove has been centered around Denburn Woods. It really is lovely -- Denburn Woods: History of Denburn Woods The presence of the Avery Conley school has set a standard for a certain kind of land use / appearance that is quite unique.

Pretty much all of the schools in D58 have boundaries that encompass both some nicer areas and some areas that are more affordable so there is no drastic fall off in performance at any of the schools, but the relative ease of kids being able to walk to school is a factor in desirability. Technically Woodward is boundary between the Pierce Downer and Puffer attendance areas, which is a factor... http://www.dg58.info/sites/default/f...oads/pd/pd.jpg

There is still a working lumber yard along the BNSF near the end of Woodward, that is pretty much all that remains of what was once a fairly active little pocket of industry that once made that part of town less attractive than other spots.

Not saying that any of these things are "deal killers" and frankly it is really nice looking home (heck I even know the guy that currently has the listing, he is a great younger dad that lives in CH and I sincerely hope it sells for his sake!), just trying to share some perspective.

As far as doing better in CH, you are probably correct that actual new construction is likely to be no more affordable. That said if you want to be a neighbor to the listing agent of the home in DG you might consider leaving hundreds of thousands in your pocket for what is unarguably a more desirable location (and though his bias my come through in the listing it is more truth than hyperbole, since Grant is a single block with very little cut through traffic it is kind of perfect for families and kids really can be counted on to play with neighbors 365 days of the year ) -- https://www.redfin.com/IL/Clarendon-.../home/17109007

Even in Hinsdale there are some exceptionally well priced newer homes that anyone looking in the $800k+ price category would do well to consider -- https://www.redfin.com/IL/Hinsdale/3.../home/14161979
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Old 08-05-2016, 09:50 AM
 
3,468 posts, read 2,136,307 times
Reputation: 1929
Out of my price range but if I had a $1MM budget in the western suburbs, I would take a hard look at the home below. It's a decent walk to downtown Hinsdale (15 minutes) but it's in a fantastic area and only a block from beautiful Robbins Park and Madison Elementary. Open house this Sunday according to Redfin.

https://www.redfin.com/IL/Hinsdale/8.../home/18020686
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