Mayor Rahm Emanuel in partnership with CNT Energy and Midwest Real Estate Data LLC (MRED) announced today that Chicago home listings on the Multiple Listing Service (MLS) will display annual and monthly gas and electric cost to help home buyers make more informed purchasing decisions. Chicago will be the first city in the nation to provide this information on home listings. The new system launched this week on the Chicago MLS. Residents should talk to their realtors®to see this information online on MRED’s connectMLS site. Realtors can also provide potential homebuyers with a detailed energy report; a sample can be viewed at retrofit.cityofchicago.org/report.
“Chicago is leading the nation in using data to promote energy efficiency and create green jobs,” said Mayor Emanuel. “This innovative tool will allow residents and homebuyers to factor energy costs into their buying decisions and streamline the 25-year old paper-intensive process for realtors and utility companies, allowing them to focus on their customers. It is a win-win that will create a better marketplace and opportunity in our neighborhoods.”
In recent years, homebuyers’ preference for energy efficient homes has become a nationwide trend; a February report from the National Association of Homebuilders demonstrated that energy efficient homes are desired by a vast majority of consumers. Similarly, a March study from the University of North Carolina showed energy efficient homes with the ENERGY STAR designation are less likely to foreclose than comparable homes.
“The online energy information will help accelerate energy efficiency efforts in Chicago and highlight Chicago’s position as a leader in sustainability,” said Anne Evens, Executive Director of CNT Energy. “We look forward to the benefits that this continued partnership will bring to Chicago residents. We appreciate Mayor Emanuel’s leadership on this initiative and the Innovation Delivery Team’s efforts to make this possible.”
“We are proud to partner with the City and CNT Energy so that participants at every level of the home purchasing process will be able to make smart comparisons and ultimately make an informed decision regarding sustainability,” said Russ Bergeron, CEO of MRED. “Under Mayor Emanuel’s leadership, Chicago residents will have better information at their fingertips when making home purchase decisions.”
This new tool builds upon the success of the Retrofit Chicago Residential Partnership, which has retrofitted over 4,000 Chicago homes and apartments. Last week, Mayor Emanuel announced that $2.6 million of Retrofit rebates were still available for residents to make their homes more energy efficient. Further information is available at retrofit.cityofchicago.org or by calling 855-9-IMPACT.
The initiative was developed under the leadership of the Mayor’s Innovation Delivery Team, in cooperation with Midwest Real Estate Data LLC (MRED), CNT Energy, and the Chicago Association of REALTORS®. Additional support was provided by Baird & Warner, @Properties, Prudential Rubloff, and Coldwell Banker.
Chicago is one of five cities to have received an Innovation Delivery Team grant from the Bloomberg Philanthropies. Since launching in November 2011, the team has spearheaded a business license reform ordinance that reduced the number of license categories by 60 percent and helped design the Small Business Center to serve as a one-stop-shop for small businesses. Part of Bloomberg Philanthropies’ Mayors Project, Innovation Delivery Team grants were also awarded to four other cities: Atlanta, Louisville, Memphis, and New Orleans.