Aurora is growing. Located along the Int. Hwy. 88 research corridor, the second largest city in northeastern Illinois is experiencing not only an economic boom, but a residential one as well.
”Where there are jobs, there`s housing-it`s as simple as that,” said Jane Post, vice president of marketing for Oak Brook-based United Development Homes.
Now with a population of 87,000, Aurora`s Economic Development Commission estimates that by the year 2005, Aurora will have a population approaching 150,000.
”We saw businesses moving to Aurora and the surrounding area,” Post said. ”But more importantly for our buyers, as businesses have moved in, we`ve watched property values increase tremendously.”
According to a survey conducted by Gary S. Meyers and Associates, the average home value in Aurora in 1986 was $66,500, an increase of 16.5 percent since 1980.
”Diverse types of housing are being developed in Aurora,” said Paul Rasmussen, city planning director. ”Currently, everything from apartments to luxury homes priced at more than $400,000 is being developed here.
”This is important to Aurora because one of our goals is to offer a range of heavy, light and service industries that offer residents full-service employment opportunities,” he said.
Post agrees that it is important to cater to all home buying markets.
”United is doing this by offering buyers something unusual at the Country Homes of Spring Lake-single-family, detached living with practically a maintenance-free environment,” Post said.
The development includes 28 single-family homes with one-bedroom-plus-den, two- and three-bedrooms, and one to 1 1/2 baths. They range in size from 1,028 to 1,626 square feet, and in price from $72,500 to $88,900.
A monthly homeowners association fee of $41 takes care of lawn mowing, snow removal and garbage pickup.
”Today`s working people often have no time for outdoor upkeep,” Post said. ”We see maintenance-free, single-family communities becoming a new trend in housing for all markets.”
According to Aurora`s Economic Development Commission, more than 2,000 acres, slightly more than 11 percent of the city`s land, currently is used for industrial purposes.
