Vol. VI No. 15 Vegan school lunches now law, PAGE 3
Lawmakers pass $46.5B budget
APRIL 13, 2022
Gaetanos is going out of business, PAGE 3
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In Proviso, rents spike while affordable housing vanishes
Package includes temporary tax cuts to soften impact of inflation By JERRY NOWICKI Capitol News Illinois
SPRINGFIELD – Illinois lawmakers worked until the early hours of Saturday, April 9 to pass a $46.5 billion spending plan for the upcoming fiscal year, as well as a $1.8 billion package of mostly-temporary tax cuts that Democrats said are intended to soften the impact of inflation on working families. The final proposals surfaced around 9 p.m. Friday, the same time the bills were being discussed by the Senate Executive Committee. Republicans took issue with the late filing of the more than 4,700 pages of legislation outlining spending and tax policy for the upcoming fiscal year that begins July 1. “Everybody in this room knows it’s damn near impossible to know what’s actually happening here without a bill being filed,” Sen. Chapin Rose, R-Mahomet, said at the hearing that concluded after 10 p.m. “How do you possibly begin to ask questions about something that doesn’t yet exist?” Democrats didn’t directly answer, but the numbers discussed at the evening hearing and later in floor debate were generally the same ones announced by Gov. JB Pritzker and Democratic leaders in the General Assembly during a Thursday afternoon news conference. “This budget funds education, health care, See STATE BUDGET on page 7
A home for sale in Westchester. Housing prices and rents across Proviso Township are rising. Zillow
Investors grabbing more and more homes, driving prospective homebuyers to rent By MICHAEL ROMAIN Editor
If you’re the average prospective buyer looking for a house in the Proviso Township area, good luck with the search. New data from a range of real estate
experts show that the housing stock across the country, including in Proviso, is in increasingly short supply and being snapped up by investors at an ever faster clip, driving more and more would-be homebuyers to rent. That dynamic, in turn, is contributing to ever rising rental rates. According to the National Association of Realtors (NAR), the median existing-home sale price in February rose to nearly $360,000, up 15% from a year ago — marking “120 consecutive months of year-over-year price increases, the longest-running streak on record.”
The median home price in eight Proviso suburbs included in Crain’s Chicago Business listings demonstrates just how starkly prices rose locally. In 2020, median housing prices in Bellwood, Berkeley, Broadview, Hillside, Maywood, Melrose Park, Northlake, Stone Park and Westchester ranged from a low of $179,000 in Stone Park to a high of $259,000 in Westchester, according to Crain’s, which compiled data provided by the Chicago Association of Realtors, Midwest Real Estate Data and Showing Time. Just a year later, median prices in those See HOUSING on page 8