Home Buying in Mundelein>Question Details

Moving To Mu…, Home Buyer in Mundelein, IL

We're thinking about buying a home in Long Meadow Estates in Mundelein.

Asked by Moving To Mundelein, Mundelein, IL Fri Aug 28, 2009

But if route 53 is built, then it would be literally in the backyard. The price is great, but should I say no because of the possibility of 53 being extended? We would want to live there for about 10-15 years or so. Any advice?

Help the community by answering this question:


Buying a home backing right up to the extension path is risky. However, from working in that market for the past 9 years, the price already reflects the risk in many of the homes that back to the proposed extension. While, the it's impossible to know the true effect in value, it's also impossible to know when the extension will be built. It's been on the books for 30+ years now. While I've been in this area for just under ten years, people we're still asking this same question 10 years ago and most of those people have bought and sold in that time. So just understand the risks/rewards and make sure it makes sense to you.
0 votes Thank Flag Link Sun Aug 30, 2009
The Illinois Department of Transportation (IDOT) should be able to give you the latest information on the status of Rt 53. Since the right of way was purchased there has always been the concern of what it would look like and how it would affect property values from as far south as Long Grove all the way north to Grayslake. History shows that properties that have backed to the easement or right of way have indeed sold for less than comparable homes in other locations or have taken on the average longer to sell. One has to ask themselves if the current price is worth it in the long term. Find out as much as you can in order to make a decsion that you feel comfortable with.

Good luck.

Al Aronow
RE/MAX Suburban
0 votes Thank Flag Link Fri Aug 28, 2009
Once the expressway is built the value of your home will plummet. It will also be extremely hard to resell your home once it's there. Not to mention the noise and traffic you would have to endure while you're living there. You also need to look at the grade schools for district 76 here's a web site showing their report card http://iirc.niu.edu/

Kathy Diegel
Coldwell Banker
0 votes Thank Flag Link Fri Aug 28, 2009
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