All posts tagged: draftstyle

0,000 homes go to winners of NFL draft-style lottery

$500,000 homes go to winners of NFL draft-style lottery

In one Chicago suburb, a shot at the American dream looks something like this: balloons, fanfare and an NFL Draft-style raffle, with the 20 chosen ones given five minutes to pick a house priced at roughly $500,000 each. It’s the brainchild of Craig Johnson, mayor of Illinois’ Elk Grove Village. If approved by the town’s board in June, it would be the first new residential subdivision there in more than 20 years. Lately, the town has been known more for houses demolished in favor of artificial intelligence infrastructure. Stream Data Centers bought — and then promptly tore down — an entire 55-home subdivision about two years ago to build a trio of data centers. Just this week, a borrower known as Elk Grove Village Property LLC is marketing $900 million of junk bonds to build a facility tied to CoreWeave Inc. It’s a clash of two of the most dominant trends in real estate: the need for more housing in the face of a supply shortage that’s left many Americans unable to afford homes, and …