Reaction of House Prices to a New Rapid Transit Line: Chicago's Midway Line, 1983–1999

Daniel McMillen () and John McDonald

Real Estate Economics, 2004, vol. 32, issue 3, 463-486

Abstract: This study examines the effect of the new rapid transit line from downtown Chicago to Midway Airport on single‐family house prices before and after the opening of the line. The results show that the housing market anticipated the opening of the line. House prices were being affected by proximity to the stations in the late 1980s and early 1990s—after the plans for the line were well known. The difference between the increase in the value of homes within the sample area as compared with properties farther away from the new transit stations was approximately $216 million between 1986 and 1999.

Date: 2004
References: View complete reference list from CitEc
Citations: View citations in EconPapers (133)

Downloads: (external link)
https://doi.org/10.1111/j.1080-8620.2004.00099.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:reesec:v:32:y:2004:i:3:p:463-486

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1080-8620

Access Statistics for this article

Real Estate Economics is currently edited by Crocker Liu, N. Edward Coulson and Walter Torous

More articles in Real Estate Economics from American Real Estate and Urban Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().