Somonauk
Real Estate
'Cash deal' offered to homeowners in Illinois criticized by consumer advocates
CHICAGO (CBS) – It's a real estate listing agreement that pays homeowners for the right to sell their homes down the road. The firm behind it touts it as a win-win.The homeowner gets a quick infusion of cash, and the real estate company gets a promised future payment.But now that firm, MV Realty, faces several lawsuits from state attorneys general, a growing chorus of questions from consumer advocates, and complaints from people who took the deal without a full understanding of the terms.A CBS 2 analysis of county deed records revealed hundreds of homeowners in the Chicago area who signed...
Developer Touts ‘Very Balanced’ Plan to Remake Hundreds of Acres of West Suburban Land, But Some Residents Still Skeptical
Hundreds of acres of vacant land in the western suburbs could be in line for a major makeover. It’s land that Crown Community Development has long owned and now wants to use for housing, civic space, retail – and distribution warehouses. Those warehouses have been sprouting up across...
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