In Palatine, Ill., you will enjoy the comforts of suburban living just miles from the thrills of the big city. The city's prime location and diverse community make Palatine realty an exciting attraction that far surpasses the typical suburbia.

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Palatine Realty

In Palatine you will enjoy the comforts of suburban living just miles from the thrills of the big city. The city's prime location and diverse community make Palatine realty an exciting attraction that far surpasses the typical suburbia.

Perched in northwestern Illinois's Cook County, this enticing Chicago suburb has been experiencing record growth for the past several decades. Much of the city's allure resides in its rich multi-cultural community. With over one hundred spoken languages and ethnicities from across the globe, Palatine is bursting with a wide variety of international cuisines, entertainment, and community events, as well as thriving businesses, a nationally acclaimed public library and schools that have received national honors. The spirit of Palatine is perhaps best captured in the annual Downtown Palatine Street Fest, celebrating the summer season with live music, food from local restaurants, games for the kids, a police bike race, and a special Art Fair. Distinguished as an exciting cosmopolitan community, Palatine is a welcoming mix of city thrill and suburban comfort. It is no wonder Palatine is the recipient of the Governor's Home Town Award.

Perhaps this award-wining city will be your next hometown. You will find that homes in Palatine are just as diverse as its population. Whether you are looking for a charming historic house, a luxury estate, a newly updated residence, or a bright new home, you will find it in Palatine. Average home values here are in the mid-$200,000s, but you will find that Palatine realty has something to offer you whatever your budget may be.

Founded in the mid-1800s, many of the prized historic homes downtown are marked with "year built" plaques. If you plan on undertaking any home improvement projects in one of these homes, you can often secure local and/or federal government financing. The Department of Housing and Urban Development's Federal Housing Administration (FHA) has a flexible 203(k) loan program that helps developers, investors, and families at all income levels to buy and restore properties in urban and rural historic districts. With this program, funds are made available to potential homeowners before restorations are completed. You can also contact the Illinois Historic Preservation Agency for information on the property tax abatement and local funding available for historic home buyers.

Alternative Financing

If you are in the median tax bracket, you are eligible to apply for funding from the Illinois Housing Development Authority. Also, if you are a first-time homebuyer, Cook County provides grants through the American Dream Downpayment Initiative for the down payment and closing costs.

In addition, Illinois's "Our Own Home" program assists those who have either no credit history or less-than-perfect credit, or missed mortgage payments due to illness, job loss or other circumstances beyond a borrower’s control. Contact a financial officer for information on these and other programs that you may be eligible for.

Best of Both Worlds

Palatine is the ideal location for those who want the easy suburban lifestyle with all the excitement of the big city just minutes away. This rare blend is what makes Palatine realty such a hot commodity and what will make your life here so complete. Speak with a local real estate agent about your next home in diverse, inviting Palatine.

By Allison Grimes

A REALTOR® is a real estate professional who is a member of the National Association of REALTORS®