Homebuying in Elk Grove Village is about to look a lot more like a lottery drawing. The village plans a live raffle on July 18 to decide who gets first crack at purchasing 20 newly built single-family homes in a micro-subdivision called Tonne Grove, and each winner will have just five minutes to choose a lot when their number is called. Mayor Craig Johnson has promoted the plan as a way to keep new housing in the hands of local residents while delivering the first new single-family subdivision in the village in more than two decades.
How the Raffle Will Work
The 20 homes are slated for a roughly 2.5-acre parcel at the corner of Tonne Road and Elk Grove Boulevard and will come in three fixed floor plans ranging from about 1,286 to 2,000 square feet. Prices are set between $466,000 and $508,000 for the Quinn, Grace, and Chloe models, and every home will include a two-car garage and no basement. As reported by the Daily Herald.
Who Can Enter and What to Bring
The raffle is open only to current Elk Grove Village residents, whether they rent or own, and winners must agree to live in their new home for at least five years to discourage quick flips. Applicants have to show mortgage pre-approval, bring proof of residency and present a $2,500 cashier’s check at the live drawing at Village Hall on July 18. Village officials say the selection will keep going until all lots are claimed, with any remaining homes heading to the open market. The mayor has likened the event to the NFL Draft, and officials told reporters there has already been strong interest. As reported by CBS Chicago.
Developer Deal and Timeline
The project’s developer is Nick Papanicholas Jr. of Mount Prospect-based Nicholas & Associates and Wingspan Development Group, who agreed to buy the village-owned site for roughly $1 million to cover the village’s land purchase and demolition costs. Village trustees have approved the public-private framework, and the proposal is set to go before the plan commission next month. If it clears that step, construction could begin this fall, with the first homes expected to be delivered in 2027. Officials say no public subsidies are involved, and the village attorney has confirmed that the program complies with state and federal fair-housing laws. As detailed by Smart Cities Dive.
Why Officials Hope It Will Catch On
Village leaders describe the raffle as a practical response to tight housing inventory and rising prices, arguing that the structure helps keep new homes in the hands of people who already live and work in Elk Grove Village. Some housing advocates and market watchers may still question how much a one-off raffle can do to address broader affordability issues, but local officials say they hope to test a model that other space-constrained suburbs might eventually copy. As reported by NBC Chicago.
