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I posted a similar thread in the Illinois forum, but wondered what the responders to this thread do in the 'burbs on weekends?
My wife and I are under <30 with a toddler, so our weekend priorities might be a little different than yours, but here's a little bit of our routine...
Friday Night -- Restaurants, Vintage Rides: Friday nights this summer we would head downtown, meet some friends for a bite to eat and stroll the main drag Front Street where dozens of beautiful classic cars would be on display.
Saturday Morning -- French Market, Candy Store: We do as much shopping as we can at the downtown, open-air French market that runs almost year-round on Saturdays. There is always a decent amount of locally-sourced produce and goods for sale. Afterward, we usually treat our toddler to a few pieces of candy at the Popcorn Store, which is a vintage popcorn and candy store. (Video: Chicago's Best: Little Popcorn Store)
Saturday Afternoon -- Cosley Zoo, Cantigny: Our toddler loves animals, so we head to Cosley Zoo as often as we can. It's free for Wheaton residents and features dozens of examples of local wildlife, from coyotes, foxes and bobcats to cows, ducks, sheep and goats. We also go to Cantigny fairly frequently. The park charges $5/car to enter, and inside are beautiful formal gardens, sensory gardens, two museums, and about a dozen (real) military tanks parked throughout the park that kids are allowed to climb/play on. Tons of fun.
There are also many, many festivals throughout the year -- too many to list -- but there is always something around corner. We just had a Shakespeare in the Park event two weekends ago. This coming weekend is the Wine & Cultural Arts Festival, and the following weekend is Live at the Zoo.
Lastly, we sometimes like to hop on a Metra train to Chicago and frequent some of our old haunts in the city.
Quote:
Originally Posted by DandiDay
Also, do any of you know about good fishing areas (besides the big Lake, of course!). I just wondered about the group of lakes up the far NW side of the Chicago 'burbs.
The group of lakes is aptly named the Chain O' Lakes. Here is a great intro video to that area, as well as the Fox River: Fox River Valley and Chain O'Lakes | Geoffrey Baer Tours. Geoffery Baer does pretty good work. I also enjoyed his video on the Western Suburbs: Chicago's Western Suburbs with Geoffrey Baer. All of the towns that have been discussed on this thread, sans Park Ridge and Arlington Heights, are represented in the video.
Last edited by holl1ngsworth; 09-18-2014 at 03:08 AM..
Howdy, neighbors!
Lots of "golden" information here - I will have to respond only briefly...trying to fit in as many doctor's appointments in as possible before the move, and have been busy as well as beat! For space's sake, I cut a few post down just slightly:
Quote:
Originally Posted by BRU67
Yes, they are two different towns. La Grange Park is situated north of La Grange and west of Brookfield. It's a nice community. Smaller. Good schools. Not very diverse.
I'm not aware of any convenient summary. Property taxes depend on a lot of variables, from various factors which could impact the home itself, to the equalized assessed values of the properties in the community, to the amount of retail taxes the municipal government brings in, to the taxing bodies taxing the particular home (which might be different in the same town), to the priorities the community places on different things like police protection and schools.
Generally speaking, the expensive suburbs with good schools are going to have high taxes around here. That's how they stay that way, LOL! But that's not always the case. Oak Brook, for example, has a low tax rate because it brings a lot of retail revenue due to its mall, so the cheaper homes there (not that there are many) might have reasonable tax bills.
Conversely, some low income municipalities will have high tax rates, because their EAV (equalized assessed value) is so low that their taxing bodies need high tax rates to bring in enough revenue to provide basic services. Harvey and East St. Louis, for example, have very high tax rates, and they seldom make the "recommended suburb" lists on here, hehe. I doubt you'll be looking at communities in this unfortunate situation but it's something to bear in mind.
The best way to tell is go to Zillow.com and start looking at the tax bills on various properties around the one you're interested in to get a feel of what taxes might be like. You have to be careful when looking at MLS listing sheets. Taxes might be low, for example, due to a senior exemption or preservation tax freeze. Or high because the property is not owner occupied and thus not receiving the homeowner exemption.
Properties are re-assessed every three years in Cook and, I think, every year in the collar counties. I'm not sure what you mean by "assessment" but assessed value is different than market value. AV is generally 10% of the assessor's estimated market value, and the various tax rates are applied to that number. Assuming you're talking an assessor's estimated market value of 100k, that could be because the house was dilapidated and then rehabbed or even a teardown situation.
If that's the case, you can expect that market value to jump at next reassessment, and along with it your tax bill! And it's really hard to lower your assessment below what you paid. The assessor will use your purchase price to determine market value if you appeal your taxes. You might be able to shift to comparables the assessment cycle after your purchase but that's going to only help you if property values around you dropped (you don't want this).
It could also be subject to a historic preservation tax freeze. A developer can get an 8 year tax freeze in Illinois if it designates a rehab as a landmark and then puts 20% of the assessed market value into improvements. This happened a lot with loft buildings in Chicago before the bust. At the end of the 8 years, the taxes will skyrocket. It's a nice thing for developers to market but someone's going to get busted right in the chops down the line. That's why you need to ask questions re taxes on an individualized basis! If they seem low or high, ask why. !
I thought there was much more to learn about taxes! You have provided a wealth of information!!! So, the bottom line is that different counties assess properties at different times. Also, (as opposed to other areas in which we purchased homes...) assessed value (I used the term "assessment" as a noun here, with regard to determining property taxes) can be widely different than market value. So, what I gather from this is that county-by-county, I have to determine the overall time-line for re-assessment of particular properties, find out what the percentage of market value is the assessed value for taxes, as well as if a particular property had any homeowner's exemptions or historic preservation tax freezes.
Some of this information will be on county websites, some on real estate info on-line (Zillow, etc), and/or the MLS listing, and possibly doing a search on the county appraisal district (if that's available to the public there in Illinois.) Do realtors (buyer's agents) generally help in this regard?
Well, all-in-all, this is a significant detail in which to be vitally aware! As you pointed out, buying a historic property (we bookmarked a couple) could hold a nasty surprise in the real estate tax realm, if we don't do our due diligence in checking all of this out! It just adds more that I have to research-
One more question- do you know how the lower market value of a short sale or foreclosure would/would not affect affect the "new" assessed value for that next tax year's real estate taxes, then?
Quote:
Originally Posted by Lookout Kid
I think our weekends are pretty typical for parents of school-age kids. We usually have some kids' sporting event on Saturdays. We will often go over to friends' houses or have people over at ours. Or we will go out to dinner. I feel like social activities have taken over most of our free time on weekends.
However, we also have a ton of festivals and activities in Glen Ellyn. Last week was the Glen Ellyn Backyard BBQ, which was a huge rib contest with judging and bands. We have live Jazz downtown, festivals with carnival rides, etc. There is a silly "cardboard boat regatta" every year where people mock up these crazy cardboard boats and paddle them across Lake Ellyn. We have an art house theater downtown, and a nice grouping of restaurants and bars. We have also been enjoying high school football games this year for the first time since I was in high school myself.
What FUN!!! I love these neighborhood-type festivals as well. Good old-fashioned fun, meeting new people, laughter, a sense of community, and of course, seeing the creative things that people come up with...as evident in the Regatta you posted. (My kids' high school physics class held something similar...it was a hoot! Some of the "boats" they came up with were out of this world!)
You're correct...certain ages of your kids will determine the activities, too. We spent years doing that...school-related festivals, science projects, Odyssey of the mind (now called Destination Imagination) - that took up most of the school year, weekends, along with the regional and then the state competitions. Scouts took up weekly meetings, along with community aid projects like Habitat for Humanity, spaghetti dinners, campouts on local ranches and land owned by successful business owners, etc. My DD was involved with rescuing and fostering abandoned animals - so that was another time-consuming passion. Then, add in the zoo and local museums (geared more for school-aged kids), etc.
Now that both are either college age or out of college and consumed with different things (son is training to be a Naval Aviator/jet pilot - he LOVED those video games and flight sim programs since age 7..., so he's busy with "big boy toys" now), DH and I are going to focus on us now! (Hence, the desire for OUR "toy"...that little, used sailboat!!!)
Quote:
Originally Posted by Lookout Kid
We were last assessed in 2011, and in 2007 before that. So it seems that DuPage County adjusts assessments every four years.
OK - good to know! I'm keeping a notebook on all of the "pearls", "need to know", as well as "fun/cultural activities" in my Chicago new neighborhood and move notebook!
Quote:
Originally Posted by holl1ngsworth
My wife and I are under <30 with a toddler, so our weekend priorities might be a little different than yours, but here's a little bit of our routine...
Friday Night -- Restaurants, Vintage Rides: Friday nights this summer we would head downtown, meet some friends for a bite to eat and stroll the main drag Front Street where dozens of beautiful classic cars would be on display.
Saturday Morning -- French Market, Candy Store: We do as much shopping as we can at the downtown, open-air French market that runs almost year-round on Saturdays. There is always a decent amount of locally-sourced produce and goods for sale. Afterward, we usually treat our toddler to a few pieces of candy at the Popcorn Store, which is a vintage popcorn and candy store. (Video: Chicago's Best: Little Popcorn Store)
Saturday Afternoon -- Cosley Zoo, Cantigny: Our toddler loves animals, so we head to Cosley Zoo as often as we can. It's free for Wheaton residents and features dozens of examples of local wildlife, from coyotes, foxes and bobcats to cows, ducks, sheep and goats. We also go to Cantigny fairly frequently. The park charges $5/car to enter, and inside are beautiful formal gardens, sensory gardens, two museums, and about a dozen (real) military tanks parked throughout the park that kids are allowed to climb/play on. Tons of fun.
There are also many, many festivals throughout the year -- too many to list -- but there is always something around corner. We just had a Shakespeare in the Park event two weekends ago. This coming weekend is the Wine & Cultural Arts Festival, and the following weekend is Live at the Zoo.
The group of lakes is aptly named the Chain O' Lakes. Here is a great intro video to that area, as well as the Fox River: Fox River Valley and Chain O'Lakes | Geoffrey Baer Tours. Geoffery Baer does pretty good work. I also enjoyed his video on the Western Suburbs: Chicago's Western Suburbs with Geoffrey Baer. All of the towns that have been discussed on this thread, sans Park Ridge and Arlington Heights, are represented in the video.
Holl1ngsworth- it sounds like you're still able to do many things having a toddler (aside from breaks for nap time, or "nappy" changes..). Great schedule to get out of the house for both cultural activities, as well as visiting friends- which is what we like to do. Thanks for the info about the lakes - I haven't had the chance to play them yet, but will do so shortly. We love plays and concerts in the parks...we have fond memories of doing the same whilst living in the UK. Several were held on the grounds of stately homes and castles (such as Sandringham Castle - a favorite retreat of the royal family), Blenheim Palace and the like. They usually ended with the 1812 Overture...replete with fireworks at the climax!
I'll check more into your links about the links, tours, and the other you posted. Thanks!
Well, all-in-all, it sounds like there's something for everyone, and every age there - and it's just not limited to Chicago city, but also in the smaller towns. What an active area with lots of choices.
OK - well, things are going full-speed here as we finish up loose ends, visit family, and start to pack. In the meantime, I'll be investigating more rentals and potential house purchases in our top neighborhoods.
I REALLY appreciate the time everyone took to supply such thoughtful answers - you've all been extremely kind and helpful!
I appreciate all of the sharing, and rendering some insight what life is like there!
All the best to you for a great evening,
I thought there was much more to learn about taxes! You have provided a wealth of information!!! So, the bottom line is that different counties assess properties at different times. Also, (as opposed to other areas in which we purchased homes...) assessed value (I used the term "assessment" as a noun here, with regard to determining property taxes) can be widely different than market value. So, what I gather from this is that county-by-county, I have to determine the overall time-line for re-assessment of particular properties, find out what the percentage of market value is the assessed value for taxes, as well as if a particular property had any homeowner's exemptions or historic preservation tax freezes.
Some of this information will be on county websites, some on real estate info on-line (Zillow, etc), and/or the MLS listing, and possibly doing a search on the county appraisal district (if that's available to the public there in Illinois.) Do realtors (buyer's agents) generally help in this regard?
Well, all-in-all, this is a significant detail in which to be vitally aware! As you pointed out, buying a historic property (we bookmarked a couple) could hold a nasty surprise in the real estate tax realm, if we don't do our due diligence in checking all of this out! It just adds more that I have to research-
One more question- do you know how the lower market value of a short sale or foreclosure would/would not affect affect the "new" assessed value for that next tax year's real estate taxes, then?
Dandiday
You got it, though I'm not sure if other counties use different % to determine assessment. In Cook it's 10% of assessed market value. The rates applied to that assessment by the taxing bodies and any exemptions or freezes will be the difference. That could even be different within the same town. So for example, a house with an AMV of $200,000 in west Anytown, IL could have different tax bill than a $200,000 AMV house in east Anytown, IL if they are served by different school districts and park districts.
Not sure I fully understand the new question but if you bought a foreclosure or short sale directly, you may be able to lower your taxes if the assessor comes in and assesses it at a higher rate. So say for example you buy a foreclosure for $200k in fancy west Anytown. Next year, the assessor comes in and assesses its market value at $350k because the house next door is similar and is worth that much. You'd be able to use what you paid to lower your AMV to $200k, at least the first time around. For the next cycle you'd probably be assessed in accordance with the other homes in the area.
Conversely, if a flipper buys the foreclosure for $200k, fixes it up, and sells it to you for $350k, you will have a hard time arguing for an AMV below $350k if you appeal your assessment.
You got it, though I'm not sure if other counties use different % to determine assessment. In Cook it's 10% of assessed market value. The rates applied to that assessment by the taxing bodies and any exemptions or freezes will be the difference. That could even be different within the same town. So for example, a house with an AMV of $200,000 in west Anytown, IL could have different tax bill than a $200,000 AMV house in east Anytown, IL if they are served by different school districts and park districts.
Not sure I fully understand the new question but if you bought a foreclosure or short sale directly, you may be able to lower your taxes if the assessor comes in and assesses it at a higher rate. So say for example you buy a foreclosure for $200k in fancy west Anytown. Next year, the assessor comes in and assesses its market value at $350k because the house next door is similar and is worth that much. You'd be able to use what you paid to lower your AMV to $200k, at least the first time around. For the next cycle you'd probably be assessed in accordance with the other homes in the area.
Conversely, if a flipper buys the foreclosure for $200k, fixes it up, and sells it to you for $350k, you will have a hard time arguing for an AMV below $350k if you appeal your assessment.
OK - got it!!! I'm learning so much - this is definitely much different than in other places we've purchased. So much to know about, so little time...
DH may be moving out into temporary quarters in a week or two. I'll amass all of my research, and go out to start house-or-apt. hunting shortly after.
You guys/gals have been so tremendous with your time and advice - I can't thank you enough!
Especially because I realize that you've probably answered similar questions time and again here on CD.
(I was just becoming overwhelmed trying to find current posts that fit our particular situation).
So, I'll keep checking back here to see if anyone has anything new to say. Ditto for monitoring the suburbs forum.
Also, if you don't mind, I'll post specific questions or property links to get your advice, if you don't mind.
forget about living near the lake or NW suburbs. The places you should consider are Oak Park and maybe River Forest, Lagrange, clarendon hills ...Wheaton and glen Ellyn are farther than necessary and don't seem to have terribly big advantages over a place like Lagrange or Clarendon....Traffic is bad during rush hour so you will need to live somewhat close by. Also check out Riverside. Not many apartments there but it should be on the list.
forget about living near the lake or NW suburbs. The places you should consider are Oak Park and maybe River Forest, Lagrange, clarendon hills ...Wheaton and glen Ellyn are farther than necessary and don't seem to have terribly big advantages over a place like Lagrange or Clarendon....Traffic is bad during rush hour so you will need to live somewhat close by. Also check out Riverside. Not many apartments there but it should be on the list.
Commute is not that bad. OP's DH would have to deal the Hillside choke point during the morning rush; drive time would be around 40 mins. Evening rush there are no choke points, commute will be closer to 30.
The advantage of Wheaton and Glen Ellyn versus Oak Park and La Grange is price. The OP has expressed a desire to live frugally; lower price might be a big advantage.
forget about living near the lake or NW suburbs. The places you should consider are Oak Park and maybe River Forest, Lagrange, clarendon hills ...Wheaton and glen Ellyn are farther than necessary and don't seem to have terribly big advantages over a place like Lagrange or Clarendon....Traffic is bad during rush hour so you will need to live somewhat close by. Also check out Riverside. Not many apartments there but it should be on the list.
No way on Oak Park and Riverside. When recommending you need to look at the values of the person in question. Neither would be a good fit. She's going to be fine in Wheaton, La Grange or La Grange Park.
BRU: Agree Oak Park not a great fit, but why not Riverside based on the values you mentioned? Riverside never struck me as Oak Park-esque liberal...if anything I would have guessed the opposite though this is only based on impression.
BRU: Agree Oak Park not a great fit, but why not Riverside based on the values you mentioned? Riverside never struck me as Oak Park-esque liberal...if anything I would have guessed the opposite though this is only based on impression.
Read above and the OP's posts in other forums, such as immigration. Riverside's nice but has no retail, shopping or restaurants of its own. You thus become a defacto resident of neighboring suburbs. Here that wouldn't be a good fit.
And to that I'd add that investing in a community without any supporting retail or industrial tax base is expensive, not to mention risky in the long term (who is going to keep paying those prices for what's essentially an island?). If inclined to consider Riverside, I'd advise Dandiday to look at taxes and compare them to Wheaton, La Grange, or other suburbs with more vibrant business districts. They'll likely be a lot higher. Again, I like Riverside, but for the money, I don't know.
Man, I'm starting to sound like Chet, LOL!
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lots of info to digest, but welcomed!
So, the bottom line is that different counties assess properties at different times. Also, (as opposed to other areas in which we purchased homes...) assessed value (I used the term "assessment" as a noun here, with regard to determining property taxes) can be widely different than market value. So, what I gather from this is that county-by-county, I have to determine the overall time-line for re-assessment of particular properties, find out what the percentage of market value is the assessed value for taxes, as well as if a particular property had any homeowner's exemptions or historic preservation tax freezes.
OK, good to know!
