Walkable communities are replacing large homes and expansive yards in the Chicagoland suburbs as consumers demand access to urban amenities.
According to the Chicago Tribune, homebuyers, especially those coming from the city, are increasingly looking for a walkable, car-less lifestyle when searching for a suburban home. A 2017 study by the National Association of Realtors (NAR) found that 53 percent of Americans would give up a large yard for a home with a smaller yard within walking distance of community amenities.
Developers in the Chicago area have been responding with revitalized downtown areas that include shops, entertainment, and living spaces. “We coined the term ‘surban’ for this trend, which is development that is bringing the best of urban to the suburbs,” says John Burns, CEO of John Burns Real Estate consulting.
The NAR study also found that the desire for walkability spans age groups, with 62 percent of millennials and 55 percent of those born before 1944 preferring walkable communities and brief commutes, even if it means a smaller living space.