Booming Exurb Finally Suffers With Economic Downturn
And the crash hasn't been gentle on this once-booming Chicago exurb: Dirk Johnson reports that it is now "among the hardest hit by the housing downturn":
"In 2009 and 2010, the top foreclosure rates in Illinois were in Kendall, Kane and Will Counties. On the new suburban frontier along the farthest fringes of the Chicago region, where cheap land and rising prices once triggered a rush of buyers, some newer developments have become ghost towns in places like Yorkville, Frankfort, Sugar Grove and Hampshire."
Johnson talks to realtors and developers about the amazing rise and precipitous fall of these "far-flung developments" outside Chicago.
Thanks to Lynn Stevens