DuPage County, Illinois, October 13, 2025
News Summary
DuPage County officials will consider a zoning text amendment to allow and regulate short‑term rentals in unincorporated areas, introducing mandatory registration, annual inspections, an occupancy limit of five unrelated people and a yearly fee. Fee revenues would be placed into a county housing fund to support low‑interest loans and construction financing for long‑term housing. The report also highlights a $136 million sale of a 640‑unit Naperville complex, $124 million in financing for a 334‑unit Wheaton rental project, and a state‑backed emergency rental grant program offering up to $25,000 for qualifying households.
DuPage County to decide annual short‑term rental rules; major Naperville apartment sale, Wheaton project financing and state rental aid also reported
Quick take: County board members will vote on a plan that would permit and regulate short‑term rentals in unincorporated DuPage County on an annual basis. At the same time, a New Jersey investor closed a high‑value purchase of a large Naperville apartment complex, a Wheaton developer lined up more than $120 million to build a 334‑unit project, and DuPage is helping residents tap state emergency rental assistance for COVID‑era arrears.
What’s up for a vote in DuPage County
County board members are scheduled to vote Tuesday on a proposed text amendment to the county zoning ordinance that would allow short‑term rentals in unincorporated areas under a new set of rules. The county currently permits residential rentals of 30 days or more but does not allow short‑term, internet‑booked stays like those on common platforms.
The proposed amendment would create a registration requirement, mandate an annual inspection, and require an annual fee for each short‑term rental. Officials would set the exact fee at a later date. The county says it has identified short‑term rentals mainly through complaints from neighbors and other property owners, often after reports of property damage or parties.
Inspections would check compliance with building, health, stormwater and zoning codes, along with any other applicable county, state or federal standards. Occupancy limits in short‑term rentals would be capped at no more than five people who are unrelated by blood or marriage, though property owners could apply for a temporary special event permit if they need a one‑time exception and bring the request to the county development committee for review.
Why the county is proposing fees and how the money would be used
County leaders view the proposal as both a regulatory framework and a revenue source. Money collected from the short‑term rental fee is planned to be placed into a dedicated housing fund. That fund would support long‑term housing strategies and provide low‑interest loans, construction loans and other financing tools tied to the county’s housing program. The move follows broader county steps to expand affordable housing, including easing some zoning rules and proposing a down‑payment assistance launch funded by surplus dollars.
Major Naperville multifamily sale
A New Jersey‑based investor paid $136 million for a 640‑unit apartment complex on nearly 34 acres west of Chicago. The buyer acquired the property from a San Francisco‑based seller. According to county records, the deal was financed with a loan of just over $90.8 million.
The 640‑unit complex was completed in 1984 and includes 39 two‑story buildings. At the time of sale, it showed a vacancy rate of 6.6 percent and asking rents averaging about $1,879 per unit, equivalent to roughly $2.11 per square foot. The transaction is one of the largest suburban apartment sales so far this year and follows a string of high‑priced suburban deals driven in part by strong rent growth and a slowdown in new apartment construction.
Wheaton’s The Faywell lines up construction financing
A local developer secured approximately $124 million to start work on a seven‑story apartment building in downtown Wheaton. Financing includes an $84 million construction loan and roughly $40 million in joint venture equity from an institutional partner. The project will add 334 rental units and about 4,504 square feet of ground‑floor retail, which will be leased to a local café brand returning to the site.
The development is within walking distance of a commuter rail station and is intended to capture continued demand for suburban rental housing as some households delay home purchases. The project is expected to complete in the first quarter of 2027. Developers, brokers and lenders involved on the deal described the financing as a sign of investor confidence in midwest suburban transit‑oriented housing.
State emergency rental assistance for DuPage residents
Households in DuPage County that fell behind on rent because of COVID‑19 may qualify for emergency rental assistance from the state housing authority. Eligible households can receive up to $25,000 to cover rent owing for a period that covers June 2020 through August 2021, with grants paid directly to landlords. The program requires tenants to work with their housing providers on applications.
Applications were made available online through the state portal, which lists required documents and contact information for support. County leaders highlighted the program as a tool to prevent evictions and to help landlords maintain stable properties while tenants rebuild their finances.
Context and implications
The package of developments outlines three threads affecting suburban housing: new rules to manage short‑term rentals and capture fee revenue, major capital movement in the multifamily market, and public assistance aimed at preventing housing loss. If approved, the county’s short‑term rental rules would be a first step followed by drafting a detailed ordinance. The large apartment sale and the Wheaton financing reflect continued investor appetite for suburban rental assets amid limited new supply and rising effective rents. The state rental aid program remains an important backstop for households affected by the pandemic.
Next steps and timing
- The county board vote on the short‑term rental text amendment is set for Tuesday; fee levels would be decided later if the amendment passes.
- Officials would then move to draft and adopt a formal ordinance establishing registration, inspection, fee and enforcement processes.
- The Wheaton project is under construction with an expected opening in early 2027.
- Applications for state emergency rental assistance are available online and include direct landlord payment as part of eligibility requirements.
Frequently Asked Questions
Q: What will the DuPage County vote decide?
A vote will determine whether to approve a text amendment that permits and sets the framework to regulate short‑term rentals in unincorporated parts of the county, including registration, annual inspections and fees.
Q: Who must register and what inspections are required?
Owners of short‑term rental units in unincorporated areas would be required to register each property and submit to yearly inspections covering building, health, stormwater and zoning compliance and other applicable standards.
Q: How will fee revenue be used?
Revenue from the proposed short‑term rental fee would be placed in a dedicated housing fund to finance tools such as low‑interest loans and construction loans as part of broader housing strategies.
Q: Who bought the Naperville apartment complex and what does the sale mean?
An out‑of‑state investor purchased the 640‑unit property for $136 million with a mortgage of just over $90.8 million. The sale signals continued investor interest in suburban rental properties amid tight supply and rising rents.
Q: How large is the Wheaton project and when will it open?
The Faywell is a seven‑story, 334‑unit building with ground‑floor retail. Construction financing is in place and completion is expected in the first quarter of 2027.
Q: How can renters apply for emergency rental assistance?
Tenants must work with their landlords to apply through the state’s online portal. The program covers certain months from mid‑2020 through August 2021 and provides grants paid directly to housing providers. Contact information and document lists are available on the state portal.
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Key features at a glance
| Topic | What it covers | Key facts |
|---|---|---|
| Short‑term rental proposal | Countywide regulation in unincorporated areas | Registration, annual inspection, annual fee, 5‑person unrelated occupancy cap, fund for housing loans |
| Naperville apartment sale | 640‑unit suburban complex sale | Sale price: $136M; loan: ~$90.8M; completed 1984; 6.6% vacancy; asking rent ~$1,879 |
| Wheaton project financing | The Faywell, 334 units, transit‑oriented | $84M construction loan + ~$40M equity; ground‑floor retail; delivery Q1 2027 |
| State rental assistance | Emergency rental aid for COVID‑related arrears | Up to $25,000; covers June 2020–Aug 2021; grants paid to landlords; apply via state portal |
Deeper Dive: News & Info About This Topic
Additional Resources
- Daily Herald: DuPage County looks to regulate short-term rental properties
- Wikipedia: Short-term rental
- CoStar: Apartments west of Chicago sell for $136 million
- Google Search: Naperville apartment sale $136 million 2025
- Crain’s Chicago Business: Downtown Wheaton’s Faywell apartments land financing
- Google Scholar: transit-oriented development Wheaton Faywell
- Daily Herald: Glen Ellyn cracks down on short-term rentals
- Encyclopedia Britannica: short-term rental
- Positively Naperville: DuPage County offers rental assistance program
- Google News: DuPage County rental assistance IHDA ILRPP
Author: Construction NY News
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