GAS PUMPS UP TRANSIT-ORIENTED DEVELOPMENT
[CHICAGO, IL]
By Anne Martin
With soaring gas prices, home buyers in the Chicago area are being drawn to transit-oriented developments where they can purchase condos near train stations and other forms of public transit.
Condo buyers are looking to be near stations with trains that will take them to work in Chicago's central business district or to other suburbs.
"Downtown workers need to commute to the Loop every day,but they'd like a quiet place to come home to at night," said developer Ray Franczak of R. Franczak and Associates which is developing condo homes near train stations in DesPlaines and Palatine.
"The Chicago area has a strong history as the transportation center of the Midwest, if not the nation," added David Katz, president of Bernard Katz & Associates, developer of Mainstreet Station Condominiums, a transportation-oriented new development in Evanston.
It is only fitting then that buyers should be able keep their cars parked as they benefit from living close to train stations.
"Our buyers are excited about living in a prime location, across the street from the Chicago Transit Authority (CTA) stations, a Metra station and in an historic district, he said.
Transportation always has been a magnet for housing and commercial development. The Chicago metropolitan area grew as a region during the 19th century with its start as a trading center of commerce. Its location on Lake Michigan helped spur business activity along the area waterways, and railroads further developed the region into a primary spot for business and housing.
Transit-oriented developments (TOD) have gained popularity as a strategy to address a number of urban home buyer problems including traffic conjestion, affordable housing shortages, air pollution and sprawl.
"With gas costs on the rise, it is not always cheap to travel around the area, especially sitting in rush-hour traffic in the mornings and afternoons,” Franczak said.
Surveys of gas stations nationwide have indicated that Chicago's gas prices are among the highest in the country. That means more and more people are deciding to "take public transportation," Franczak said.
Condo buyers are finding that other commuter woes can be avoided by opting for a condo in a transit oriented development.
"Sometimes it's just less stressful-and more affordable-to take a 40-minute train ride to work instead of burning a tank full of gasoline," Franczak said. "The convenience of public transportation close to your home is a major buying consideration and the ultimate solution for people who have to travel to the city for work."
Chicago Condos For Sale
By Anne Martin
With soaring gas prices, home buyers in the Chicago area are being drawn to transit-oriented developments where they can purchase condos near train stations and other forms of public transit.
Condo buyers are looking to be near stations with trains that will take them to work in Chicago's central business district or to other suburbs.
"Downtown workers need to commute to the Loop every day,but they'd like a quiet place to come home to at night," said developer Ray Franczak of R. Franczak and Associates which is developing condo homes near train stations in DesPlaines and Palatine.
"The Chicago area has a strong history as the transportation center of the Midwest, if not the nation," added David Katz, president of Bernard Katz & Associates, developer of Mainstreet Station Condominiums, a transportation-oriented new development in Evanston.
It is only fitting then that buyers should be able keep their cars parked as they benefit from living close to train stations.
"Our buyers are excited about living in a prime location, across the street from the Chicago Transit Authority (CTA) stations, a Metra station and in an historic district, he said.
Transportation always has been a magnet for housing and commercial development. The Chicago metropolitan area grew as a region during the 19th century with its start as a trading center of commerce. Its location on Lake Michigan helped spur business activity along the area waterways, and railroads further developed the region into a primary spot for business and housing.
Transit-oriented developments (TOD) have gained popularity as a strategy to address a number of urban home buyer problems including traffic conjestion, affordable housing shortages, air pollution and sprawl.
"With gas costs on the rise, it is not always cheap to travel around the area, especially sitting in rush-hour traffic in the mornings and afternoons,” Franczak said.
Surveys of gas stations nationwide have indicated that Chicago's gas prices are among the highest in the country. That means more and more people are deciding to "take public transportation," Franczak said.
Condo buyers are finding that other commuter woes can be avoided by opting for a condo in a transit oriented development.
"Sometimes it's just less stressful-and more affordable-to take a 40-minute train ride to work instead of burning a tank full of gasoline," Franczak said. "The convenience of public transportation close to your home is a major buying consideration and the ultimate solution for people who have to travel to the city for work."
Chicago Condos For Sale
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