Permits for the construction of new housing in the Chicago area were up 9 percent during the first 11 months of 1994, but down 18 percent in November, according to Bell Federal Savings’ Survey of Building.
The combined 11-month total for single- and multifamily units was 28,532, compared with 26,261 during the same period in 1993. Single-family permits totaled 21,743, compared with 21,365, while multifamily was 6,789, compared with 4,893 in 1993.
In November, 1,807 single-family permits were issued, an 8 percent decline from 1,969 in the same month in 1993.
The City of Chicago reported a 53 percent increase in single-family home permits, to 49 from 32, but in the suburbs such permits dropped 8.3 percent to 1,619 from 1,766. In unincorporated areas, permits for single-family homes were down 18.7 percent to 139 from 171.
Multifamily permits in the Chicago area plunged 40 percent to 511 units compared with 851 in November 1993.
In Chicago, multifamily permits dropped almost 66 percent, to 175 from 512, but the total was almost unchanged in the suburbs-334 in November, compared with 335 a year earlier. Multifamily permits decreased from 4 to 2 in the unincorporated areas.
Naperville was the suburban housing leader during the first 11 months of last year with 1,508 permits.
Others in the top 10 were Aurora, 1,096 permits; Gurnee, 1,033; Lake in the Hills, 989; Bolingbrook, 772; Joliet, 699; Bartlett, 689; Orland Park; 689; Grayslake, 622; and South Elgin, 511.
Total permit values for all types of construction-residential, commercial, industrial-totaled $890,101,844 in November, a 61 percent increase from $553,709,790 in 1993.
Bell Federal’s Survey of Building covers Cook, DuPage, Lake (Illinois), Lake (Indiana), Kane, McHenry and Will Counties.
