Will Oswego's Parksmith Run Subdivision Affect Your Home's Value?
Will the Parksmith Run development affect home values in Oswego?
D.R. Horton's proposed Parksmith Run subdivision would add up to 210 single-family homes and 76 townhomes on 107 acres near Route 34 and Orchard Woods, the former site of the Oswego Drag Raceway. The project is still moving through Oswego's concept review, with no annexation, engineering approval, or groundbreaking yet as of this writing. For sellers near the site, that means real competition from new construction is still likely two or more years away, which is exactly the window to price and market your home ahead of it. For buyers, it means waiting for Parksmith Run pricing is a long game, and the resale market around Route 34 is your fastest path in right now.
By the Constellation Home Sales Team | August 14, 2026
Every few months, a new subdivision proposal lands on a Village Board agenda in Kendall or Will County, and homeowners nearby start asking the same question: does this help my home's value or hurt it? Parksmith Run is the version of that question circulating in Oswego right now, and it deserves a straight answer instead of a guess.
What's Actually Being Built at Parksmith Run
The site sits on roughly 107 acres west of Orchard Woods, fronting Route 34, on land that once housed the Oswego Drag Raceway, which ran from 1955 to 1979. D.R. Horton Inc. Midwest is behind the current concept plan, and it has already changed shape once this year.
Here's where things stand:
210 single-family lots and 76 townhomes in the latest concept, most single-family parcels sized around 8,100 square feet, with roughly 44 closer to 10,000 square feet
Commercial acreage grew from about 5.14 acres to 7.5 acres near the Route 34 frontage
No construction has started. Village documents confirm the developer has not broken ground
Oswego's Planning and Zoning Commission reviewed the concept plan in March 2026 and pushed back, asking D.R. Horton to widen minimum lots from 65 feet to 70 feet to bring density down, which would trim the plan by roughly 10 to 12 lots
The project still needs formal annexation, detailed engineering plans, and final PUD and plat approval before anything gets built
That last point matters more than the headline unit count. This is a concept plan under negotiation, not a shovel-ready project. Compare that to the site's 2007 annexation agreement, which called for about 154 single-family homes, 88 townhomes, a 5-acre commercial pad, and a 7-acre park. The current pitch shifts the mix toward more single-family lots and less park space, which is exactly what village staff and trustees are pushing back on now.
What New Supply Like This Typically Does to Nearby Home Values
Here's what I tell every homeowner who calls me nervous about a new subdivision going in near their street: the impact depends almost entirely on timing and what comes with it, not just the unit count.
In the near term, minimal pressure. With annexation, engineering, and plat approval still ahead of Parksmith Run, realistic delivery of finished homes is likely 2026 through 2028 at the earliest. If you're selling this year or next, you're not competing against these homes yet.
Once homes deliver, expect real competition for comparable resale listings. New construction pulls buyers who want a warranty, modern finishes, and a builder incentive package. If your home is a similar price point and square footage, you'll be competing on condition and price, not just location.
Infrastructure attached to the deal can support values instead of dragging on them. This is the part homeowners often miss. When D.R. Horton built Sonoma Trails at Wolfs Crossing and Roth Road, the developer's impact fees funded road widening and a new traffic signal, upgrades that benefit every home in the corridor, not just the new subdivision. If Parksmith Run's approval comes with similar road, retail, or park commitments along Route 34, nearby resale values often hold up better than a simple supply-and-demand read would suggest. The same dynamic played out with the anchor investment behind Orland Park's downtown redevelopment.
Employer-driven demand and supply-driven demand behave differently. A project that adds jobs, like the Hyundai Translead expansion near Joliet, tends to pull new buyers into a market without adding much competing inventory right away. A residential subdivision like Parksmith Run does the opposite: it adds inventory first, with any employment or retail benefit showing up later, if the commercial component gets built out as planned.
Should You Sell Now or Wait If You're Near Parksmith Run
If you own a home within a few miles of the Route 34 corridor and you're weighing your timing, here's how I'd walk you through it.
If you need to sell within the next 12 to 18 months, the calendar favors you. Parksmith Run homes will not be finished and listed in that window under any realistic approval timeline. Your home is competing against other resale inventory, not against 286 brand-new units.
If you're planning to sell in two to four years, start paying attention to the annexation vote and the Village Board's final plat approval. Those are the milestones that turn a concept plan into an actual construction timeline. Once that happens, sellers of comparable homes nearby should expect to sharpen pricing and presentation rather than assume the market will carry them.
If you're weighing whether your current listing just isn't moving, new construction rumors are rarely the real cause this early. A home that's overpriced or under-marketed today struggles for the same reasons it always has, and it's worth ruling those out before blaming a subdivision that hasn't broken ground. That's the same conversation I have with Orland Park sellers whose homes have sat.
One more thing worth knowing if you do decide to list: Illinois's standard attorney review period gives both sides five business days after signing to negotiate further before the contract is fully locked in. That process doesn't change because a subdivision proposal is working its way through Village Hall, and it's one more reason timing your listing around your own situation, not around headlines, is usually the right call.
If you're a buyer hoping to get into Parksmith Run specifically, understand that presale pricing typically lands 12 to 24 months after final approval, not after a concept review. If you need to move sooner, resale inventory in Boulder Hill, Fox Chase, and the neighborhoods along Wolfs Crossing gives you a faster path into the same school districts and commute range, often at a lower price per square foot than a brand-new build carries in its first phase.
Frequently Asked Questions
Has the Parksmith Run subdivision in Oswego been approved yet?
No. As of the March 2026 concept review, Oswego's Planning and Zoning Commission recommended changes, including wider minimum lots. The project still needs formal annexation, engineering review, and final plat approval before construction can begin.
How many homes will be built at Parksmith Run?
The current concept calls for 210 single-family homes and 76 townhomes on about 107 acres, though that number could drop by 10 to 12 lots if the village's request for 70-foot minimum lot widths is adopted in the final plan.
Will new construction in Oswego lower resale home values nearby?
Not immediately. Meaningful competition from new construction typically shows up once homes are finished and listed, which realistically is not until at least 2026 through 2028 for Parksmith Run given the approvals still pending. Whether values hold up long-term often depends on whether the project brings road and retail improvements along with the new homes.
What was on the Parksmith Run site before this proposal?
The 107-acre parcel along Route 34 was once home to the Oswego Drag Raceway, which operated from 1955 to 1979 before the land sat largely undeveloped for decades.
How long does it typically take between a concept plan review and actual construction in Illinois?
There's no fixed timeline, though projects moving through annexation, engineering, and final plat approval commonly take one to two years before groundbreaking, and longer if a plan changes hands or gets revised, as Parksmith Run already has once this year.
If you're trying to figure out what a subdivision proposal like this actually means for your street, that's not something a Zestimate or a village agenda item can answer on its own. Text or call 630-912-9129 and I'll pull the specifics for your address and give you a straight read on your timing.
About the Constellation Home Sales Team The Constellation Home Sales Team — Steve Roake and Kimberly Genovese — has closed more than 615 transactions worth over $113 million across Chicago's southwest suburbs and Northwest Indiana. Licensed since 2003 and operating under Keller Williams Preferred Realty, the team specializes in probate and estate sales, expired listings, negotiation, and divorce and life-transition sales, with a track record of selling homes at 101% of list price against a 97.7% MLS-wide average. Connect with the team at freedomgroupglobal.com or 630-912-9129.
