Ordinance Change! City of Elgin Updates Municipal Code for Historic Property Transactions

Mainstreet HQ, Downers Grove – Senior Illinois REALTORS® Governmental Affairs Director for DuPage and West Cook Counties Jeff Merrinette highlights and explains the new ordinance in the City of Elgin regarding historic properties.

Effective February 1, all properties designated as historic must have a signed Designated Historic Property Disclosure Form prior to the sale or purchase per the City of Elgin. Both the seller and a prospective buyer are required to physically sign the disclosure.

Which raises the question: how does this impact the real estate market in the City of Elgin?

Senior Illinois REALTORS® GAD Jeff Merrinette was asked about this ordinance and why REALTORS® conducting transactions in the City of Elgin need to be aware of the change.

“The Designated Historic Property Disclosure Form is a new addition to the Elgin Municipal Code, requiring buyers and sellers to sign the form. Without both signatures, no transfer stamp will be issued,” Jeff explains during a conversation about this new ordinance.

He continues, stating “The Designated Historic Property Disclosure Form is going to effectively freeze a sale unless the buyer and the seller complete this form, which then must be filed with the City of Elgin.”

Mainstreet has and always will advocate for private property rights. Jeff Merrinette echoed this sentiment. “The City of Elgin passing a new historic district ordinance simply adds another layer of paperwork for buyers and sellers to fill out and file to complete a sale. REALTOR® associations have long fought this sort of restriction on a regular basis.”

Click here to view a map of Elgin Historic Districts and Landmarks.

Click here to access City of Elgin buying and selling historic property resources.

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