The Chicago Metropolitan Agency for Planning (CMAP) recently reached out to the Illinois REALTORS® for insight and expertise on what some of the challenges for growth and revitalization are for the six-county northern region of Illinois.
The delegation included REALTORS® from throughout northern Illinois and they weighed in on some of the analysis and reports that CMAP has already done in assessing some of the issues that communities are talking about. Challenges such as aging properties that are too big and too expensive to refurbish and maintain, demand shifts due to changing demographics, especially millennial’s and seniors, and lack of retail options in some areas are examples of topics discussed.
“The participants provided much needed nuance on the market trends impacting different parts of the region,” said Jonathan Burch, principal planner, Chicago Metropolitan Agency for Planning (CMAP). “The feedback will help us develop a better picture of how different demographic changes are impacting our region and how local communities can be responsive to those changes.”
CMAP is currently undergoing the update to the region’s comprehensive plan called ON TO 2050 in which the Illinois REALTORS® have provided input.
This forum is an additional way that our industry will help broaden the understanding of the realities of the marketplace and have a place at the table to assure that municipal solutions address local needs while not creating regulatory barriers that come with their own sets of unintended consequences such as increasing costs of housing an development.