There is a gold rush taking place in Kankakee. A rush, that is, to limit the number of cash-for-gold locations that have popped up in recent years.
The Kankakee City Council approved by a 14-0 vote Monday night a new ordinance that caps the number of cash-for-gold dealers — not jewelry stores — to three and imposes a $1,000 yearly licensing fee.
For the unabridged version of this story, subscribe to The Daily Journal's print edition or E-edition
"For Sale" signs aren't taking root like they have during the past several years ago — a strong indication that the local economy continues to improve.
And while the pace of home sales is still far from the boom years in the late 1990s and early 2000s, the market is trending upward again and home buyers are snatching up properties quicker than before.
According to the Kankakee-Iroquois-Ford Association of Realtors, homes sold in July spent far less time on the market than in recent years.
In Kankakee County, for example, homes spent an average of 137 days on the market last month. In July 2012 it was 145 days. The year before that, 154 days.
In Iroquois County, the reduction was even more dramatic. The days on market for July 2011 was 266; July 2012, 181 days; and July 2013, 115 days.
In Will County, days on the market for July 2013 was 109; July 2012, 136 days; July 2011, 163 days.
The Chicago Bears just completed their 12th training camp at Olivet Nazarene University in Bourbonnais and made a commitment for another nine summers.
While the contract extension was greeted with sighs of relief and smiles, the question that still remains unanswered is what exactly — in terms of dollars and cents — does the camp and the 100,000 or so fans it annually attracts mean to the region.
The answer could lie in an in-depth economic impact study — something that has yet to be completed.
"I think it's a valid question," said Bourbonnais village administrator Gregg Spathis, "but any impact study would need to be countywide, rather than just the village."
Agreed.
The cost of such a study would also have to be shared among the many jurisdictions and civic organizations that annually welcome the Bears with open arms.
"We need to know where we fall short, if we fall short and what do we do well," Spathis said.
