Incentivizing Building in Lockport | WBEZ
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Eight Forty-Eight

Incentivizing Building in Lockport

In October, existing home sales jumped more than 30 percent in the Chicago metro area. But that number excludes the sale of new homes, which some say is the real number to watch for clues on the economy. The good news is that more people bought newly constructed homes in October than most had expected. New home sales across the country jumped 6.2 percent. The bad news? Well, the Illinois Home Builders Association says 2009 likely will be the worst year for home construction since World War II. But some places—like Lockport, Ill.—are trying to encourage more people to buy new homes by offering a hefty incentive. The incentive program is one of this week's topics in Dennis Rodkin's Deal Estate column with Chicago magazine.

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