The booming real estate trend in Elmhurst is showing no signs of slowing down, and that is partly due to the vibrant and bustling downtown, which is seeing a virtual renaissance of multi-resident units close to the action.

Mayor Steve Morley made his annual State of the City address recently and addressed the number of residential units that are popping up in the downtown area as well as the planned replacement of the Metra train station.

The downtown will see three large development projects in the next two years—a six-story high-end apartment complex at Addison and First Streets, a luxury apartment complex at Addison and Second Streets, and a 23-unit condo development at the long-vacant site at Cottage Hill and Park Avenues.

Morley was quick to point out that the city has been working with consultants to ensure that the growth isn’t too fast or large for the city’s infrastructure to handle. Experts believe that the city can actually accommodate double the amount of what is being built. Given the two-year timeframe for the three large developments, the city is confident that the absorption will be more gradual than it might appear.

The developments are likely to appeal to young professionals who commute to Chicago and retirees/empty nesters who want to downsize but stay in Elmhurst.

In other good news for the city’s real estate, the building department issued 97 new home permits in 2018, which is four times more than last year, and more than 3,000 overall permits.

Morley also announced that Metra station has obtained $16.4 million for improvements, and he said he was confident they would reach the $18 million mark. The train station is the busiest stop on the Union Pacific West Line, however, having been built in the 1960s, it has become outdated in terms of services it can offer. It also has accessibility issues, a crumbling infrastructure, and heavy congestion in the drop-off lanes.

Here at Gracik-Makinney, we’re thrilled to see the market continue to boom with people who recognize what we’ve always known: Elmhurst truly has something for everyone. It’s the best of big city living in a small town. Reach out to us to find out more. Call (630) 441-5570 or visit our website, www.gmregroup.com.