Buying & Selling
Great things are happening in Aurora's historic neighborhoods. From new street lighting to upgrades in historic McCarty Park, now is a great time to consider a historic Aurora home.
Some of the benefits include:
- Older neighborhoods offer a strong sense of community.
- Historic homes offer features many new homes don't. So many of Aurora's older homes have stained glass windows, wood floors, pocket doors, open stairways, and truly awe - inspiring details.
- Buying historic is buying green. The greenest buildings are the ones that already exist. Remember historic windows and doors can be just as energy efficient as new windows if they are well maintained.
- Aurora's historic districts are all within walking distance of downtown Aurora and Aurora's Metra station and all are a short drive to I-88.
- Imagine the possibilities. There is great potential to be unlocked in Aurora's historic neighborhoods.
- Designated historic properties are eligible for the Illinois Tax Assessment Freeze program.
- Many first time home buyers are eligible for the Illinois Assist Program, a down payment assistance program. Please contact the City of Aurora Neighborhood Redevelopment Division for more information via phone at 630-256-3320.
- If you plan to buy a "fixer upper" you may want to consider financing your restoration through a HUD 203 K Mortgage.
The following programs are also available as funding options for designated historic properties:
- Tax assessment freeze program for certified rehab program, administered by the State of Illinois call 217-785-4512 for more information.
- Federal Historic Preservation Tax Credit Program: Provides for a 20% tax credit for the substantial rehabilitation of an income producing property that is certified as historic. The credit may be subtracted directly from the federal income taxes owed by the owner.
- Federal Rehabilitation Income Tax Credit Program: Reduces the building owner’s federal income taxes by 10% for the cost of rehabilitating a non-historic buildings built before 1936.
- Illinois Historic Preservation Tax Program: Provides a 25% tax credit for the substantial rehabilitation of an income producing property that is certified as historic and which is also located in a River Edge Redevelopment Zone.
- Landmark Illinois Grant Program: The State’s leading preservation non-profit organization administers grant programs to assist historic structures.
- National Trust for Historic Preservation: Offers the National Trust Preservation Funds and other special programs for historic preservation.
- All exterior changes to homes in Aurora's Historic Districts as well as local landmarks must comply with the Historic District and Landmarks Guidelines.
- Many exterior changes will require a Historic Certificate of Appropriateness.
- At closing please remember to sign the Historic Disclosure Form and send a copy to the Preservation Commission.
Property owners in Aurora's Historic Districts have stated:
"I like the idea that my neighborhood will have the same character fifty years from now as it does today."
"The history, beauty, and elegance of old Aurora are represented by the buildings. The energy, enthusiasm and spirit of community of contemporary Aurora are represented by the people who live in that neighborhood."
"My property value will be maintained or increased because of the historic designation."