Chicago Cheat Sheet: Southeast Side home values slide…& more

Also, Palos Park considering redevelopment ideas on 1.4K acres recently annexed into village

Parachute graffitti at Rainbow Beach Park in Chicago (Credit: iStock)
Parachute graffitti at Rainbow Beach Park in Chicago (Credit: iStock)

Southeast Side home values lag behind rest of city: report

Home values are still falling on the Southeast Side of the city, even as other areas of the city have recovered, according to a report from the Cook County assessor’s office. The report showed values declined only in Hyde Park Township, which includes South Shore, South Chicago, Chatham, East Side, Hegewisch and other neighborhoods. [Crain’s]

Palos Park mulls development options after adding 1,400 acres

Officials in suburban Palos Park are working on plans for future development on 1,400 acres the village annexed. A golf course resort with a water park and conference center, upscale retail and high-end homes are among the ideas being considered. Officials hope to have a master plan for development by early next year. [Daily Southtown]

Developer plans big mixed-use project in Arlington Heights

A developer wants to convert a vacant block at Chestnut Avenue and Campbell Street in Arlington Heights into a three-building mixed-use project. Village officials next week are set to consider CCH LLC’s plan for a five-story-plus, 73-unit residential building; an eight-story, 172-unit apartment building with ground-floor retail; and a 12-story, 113-unit apartment building with a five-story parking garage.[Daily Herald]

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Who ya crappin? Ditka’s restaurant to close

The Ditka’s restaurant in Arlington Heights is set to close by the end of the year, village officials said. The eatery named for former Bears head coach Mike Ditka at 2000 West Euclid Avenue has scaled back its hours in recent months. Officials from the chain, which includes locations in Chicago, Oakbrook Terrace, Westmont and in Pittsburgh, didn’t respond to requests for comment. [Daily Herald]

Amazon HQ2 effort could help Chicago after all: Zillow

A Zillow forecast said even though New York and Washington, D.C., ended up winning the Amazon HQ2 competition, the housing market in Chicago and other cities that made bids could still see a boost. Zillow economist Aaron Terrazas said the contenders’ efforts to woo Amazon built momentum for other initiatives that could spur job growth and demand for housing. [Crain’s]

Glessner House trying to win national contest

The Glessner House Museum is vying to be one of nation’s 10 Best Historic Homes decked out for the holidays. The South Loop mansion built for the family of International Harvester executive John Glessner faces competition in a USA Today contest from Mount Vernon, Monticello, Hearst Castle and Graceland, among others. Voting runs through Tuesday, when the field will be narrowed to the Top 10. [Block Club]