Permits for the construction of new housing in the Chicago area dropped 14 percent in the first four months of the year, according to Bell Federal Savings’ Survey of Building.
A total of 7,206 permits for homes and multifamily units were issued in the four months compared with 8,373 in the same period last year.
In April, total permits fell to 2,191 from 2,912 in April, 1994-a 25 percent decline.
Single-family home permits in April totaled 1,695, compared with 2,219 in the same month last year. The City of Chicago reported a 39 percent decrease-to 63 from 103. Homes declined 22 percent in the suburbs-to 1,477 from 1,903 last April. The decline was 27 percent in the unincorporated areas-to 155 from 213.
Multifamily permits in April totaled 496 in April, down from 693 units in April 1994.
In Chicago, permits for multifamily building decreased 38 percent-to 163 units from 265. But the suburbs posted a 7 percent increase-to 313 units from 292 in April 1994. Multifamily dropped 85 percent in the unincorporated areas-to 20 from 136.
Naperville continues to be the suburban housing leader with 587 permits issued during the first four months of the year.
Others in the top 10 are Lake in the Hills, 393 permits; Orland Park, 233; Aurora, 205; Gurnee, 204; Joliet, 174; Bolingbrook, 166; Mundelein, 137; Schaumburg, 132; and Algonquin, 127.
The Survey of Building covers these counties: Cook, Du Page, Lake (Illinois), Lake (Indiana), Kane, McHenry and Will.
