Subsidies For $1 Million Hinsdale Homes OK'd

HINSDALE, IL – A Hinsdale committee last week recommended subsidies for three historic houses worth more than $1 million.

The houses are at 515 S. Lincoln St., 217 W. Hickory St. and 605 E. Third St.

A couple of years ago, the village created incentives for residents to preserve the looks of houses deemed historic. This was meant as a way to avoid the trend of tearing down historic homes and replacing them with new ones.

Under the incentive program, the village may remove the village's part of the property tax bill for five years. To make that a reality, an owner must spend at least $50,000 on exterior improvements. The program allows the village to cover half of the eligible project costs, up to $10,000 per project.

At its meeting Thursday, the village's Historic Preservation Commission approved an estimated $6,800 in tax incentives for the house at 515 S. Lincoln, built in 1896.

Now owned by Larysa Domino and Brian Stahl, the house sold a year ago for $1.3 million. The owners plan to add a detached garage.

The house at 217 W. Hickory is in line for $6,000 in tax incentives. The owners, David and Sarah Chase, are planning two additions to their more than 150-year-old house.

Commissioner Jim Prisby praised the project, saying he grew up a block away from the house.

"This house has long been on my radar as a great house," Prisby said. "There used to be a guy who lived there who had four dogs."

The house sold for $1 million in 2017, though there are signs it is worth more now.

The commission also approved $8,600 in tax incentives for the house at 605 E. Third. Built in 1935, it is owned by Frederick and Elizabeth Regnery. A rear addition is planned.

The house sold in 2016 for $1.5 million.

The Village Board has the final say on the subsidies.

In all three cases, the projects are estimated to cost far more than the planned subsidies.