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Wednesday is Veterans Day. If you served, thank you. With Naval Station Great Lakes in our backyard, a lot of you did.
This week: a stadium that isn't a deal yet, a mortgage rate that dipped by roughly the price of a pizza, and a Libertyville coffee shop that's about to have a film credit.
The Bears Are Close to Staying in Illinois. Maybe.
The Chicago Bears are reportedly close to a deal that would keep them in Illinois, according to Crain's Chicago Business columnist Greg Hinz, who cites unnamed sources. The most likely site is Arlington Heights, where the team bought the former Arlington Park property in 2023. Lawmakers could vote as soon as this month, and Gov. JB Pritzker has said the stadium legislation could come up in the fall veto session, per WTTW.
The Bears' own statement on Friday was less decisive. The team said it is still working with Indiana leaders on a Hammond project, is finalizing due diligence on two sites in the Wolf Lake area, and expects talks with both states' leaders "in the coming weeks." In relationship terms, that's a team that hasn't deleted the other number.
Under the proposed legislation, a publicly owned stadium would be exempt from property taxes, and the state would pay for new roads and infrastructure, though no final cost has been set.
It's not a deal until it closes. That goes for stadiums, too.
Arlington Heights is in Cook County, not Lake County. But plenty of Lake County buyers drive that direction for work, and a stadium district means traffic, construction and opinions. What it would do to nearby home values is unknowable today, and anyone who hands you a number is guessing. I sell houses for a living, and I'm telling you I don't know yet.
Rates Dipped. The Payment Is Still Bigger Than Last Year.
Freddie Mac's weekly survey put the average 30-year fixed rate at 7.18% on Nov. 5, down from 7.24% the week before and up from 6.22% a year ago. Markets get a new read Tuesday morning when the Consumer Price Index comes out.
Here's what that looks like in Lake County. The median single-family home sold for $405,000 in October (MRED InfoSparks). Put 20% down and borrow $324,000, and the principal and interest payment at 7.18% is about $2,195 a month. At last year's 6.22%, the same loan was about $1,989. That's $206 more every month for the same house.
This week's dip from 7.24% to 7.18% saves about $13 a month. Enough for a good pizza, not a mortgage strategy.
Those figures are principal and interest only, before property taxes and insurance, which in Lake County are not small. If you want your own numbers, with your price range and down payment, reply and I'll run them.
Libertyville Is Getting Another Holiday Movie Credit
The filmmakers behind the holiday rom-com "Exes of Christmas Past," which was shot in Libertyville and Woodstock, came back to downtown Libertyville last winter for five days of filming on their next one, "Christmas at the Zoo." Much of the Libertyville shoot happened at Conscious Cup Coffee Roasters, where owner Roseanna Shipley took a small non-speaking role: opening the shop. Brookfield Zoo is the film's main location, and the Daily Herald reports a release this holiday season.
I couldn't find a release date, so keep an eye on your streaming apps. Downtown Libertyville now has a filmography, and the coffee shop owner has a credit.
New on the Blog
Two new posts on welcometosold.com this week.
How to Buy a House in Lake County: The Whole Thing, Start to Keys. The order of operations matters more than the shopping. This is the full process, translated for Lake County, including the Illinois-specific parts nobody mentions until you're in the middle of them.
AI Can Help You Buy or Sell a Home in Lake County. It's a great assistant and a bad decision-maker. Here's where it earns its keep and where it will confidently steer you wrong.
Private List
38222 N Golf Ln, Wadsworth — a private listing, not on the open market yet. Reply to this email if you want details before it's public.
Also working a few active buyer needs right now, in case you know someone:
A cash investor looking AS-IS anywhere in Lake County
A family needing 4 bedrooms and a 3-car garage in Wadsworth
A 5-bedroom search in Antioch
A 3BR/2BA buyer focused on Mundelein
A Quick Word From Today's Sponsor
Sponsors are a big part of why The Weekly Welcome stays free. If something below catches your eye, give it a click. It takes ten seconds, costs you nothing, and it's the easiest way to say thanks. I'll wait.
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The Big Picture
A stadium that isn't a deal yet, a rate that dipped by about $13 a month, and a movie nobody can stream yet. What they have in common: headlines move faster than closings do.
The useful move is the same every week. Skip the noise and run your own numbers. If you're thinking about buying or selling in Lake County, I'll run them with you.
Hit reply with your question about buying, selling or whatever the headline told you. I'll tell you if it's right.
Until next week…
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