Rolling Meadows, Chicago Offers Suburban Haven Near O'Hare Airport
by Blanche Evans
Rolling Meadows, Illinois offers quick access to O'Hare Airport, the nation's most trafficked airline hub. "Developed by Kimball Hill in the 1950s, Rolling Meadows is located in Cook County just northeast of Schaumburg on approximately 5.5 square miles," says Realtor John Sabatino. "Fifty years later, Mr. Hill's company (now a world-renowned builder), still builds in Rolling Meadows as Kimball Hill Homes. Rolling Meadows offers 11 parks, a sports center, and many other community activities. "Located just 30 miles to Chicago's Loop," continues Sabatino, "offering several fine industrial/commercial corridors and business parks, Rolling Meadows is an ideal locale for people who need convenient, quick to O'Hare Airport, as well as the neighboring towns industrial sectors. Eighty-one percent of Rolling Meadows population owns their current residence. Sixty-six percent lived in detached single-family homes, while 38 percent reside in condominiums, townhouses, or apartments. The yearly median household income for 2003 proved to be $74,075.00; In fact, seventeen percent posted households incomes over $100,000.00 annually. Reports put the median house value at $229,700. Available housing types vary from single family, town homes, and condos. The median home price is $211,000, with homes purchases ranging from $95,000 to $600,000." About the market, Sabatino explains, "The general market conditions in the area appear steady, with currently very low mortgage rates. Moderate and typical annual appreciation rates are currently being realized. Special financing concessions, as well as VA & FHA financing exist, though, have minimal or no significant affect on the market value." "Rolling Meadows is located 30 miles northwest of Chicago's Loop, approximately 10 miles from O'Hare Airport, and with easy access to major expressways," says Realtor Karen Kusek. "Per the Multiple Listing Service of Northern Illinois, there are currently on the market:
60 Attached homes ranging from $105,000-291,000
23 Single Family homes from $224,900-695,000
Closed in the month of July:
28 Attached homes ranging from $79,500-285,000
17 Single Family homes from $179,000-555,000
Both Attached and Single Family homes averaged sales of 97.5% of their list price during the past month.
Year to Date, there have been 115 Attached homes and 98 Single Family homes closed.
Interest rates are slightly on the rise, however still very good."
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