Park Place on the Green, Crest Hill — True Cost of Ownership
Will County | Crest Hill | 55+ | Homes $160K–$270K | HOA ~$175/mo | Adjacent to Joliet
Crest Hill is a Will County city immediately north of Joliet, and Park Place on the Green is one of the most affordable 55+ communities in the entire Chicago market by purchase price. Homes in the $160K–$270K range with a $175/mo HOA and Will County's ~2.3% effective tax rate produce some of the lowest total monthly non-mortgage costs in this guide. For buyers whose primary constraint is minimizing ongoing housing expenses, this community occupies a specific niche that few others in the metro can match.
Crest Hill and Joliet services: Crest Hill sits on the north edge of Joliet — Will County's county seat and largest city. Presence Saint Joseph Medical Center and AMITA Health hospitals serve the area. Interstate 55 and Interstate 80 intersect near Joliet providing regional access. The tradeoff for the lower price point is Joliet-adjacent urban character rather than the quieter suburban character of Shorewood, Bolingbrook, or Romeoville. For buyers who find the Joliet corridor practical and accessible, the cost difference vs. any other Will County community is meaningful.
Monthly Cost Breakdown
| Cost Item | Est. Monthly (Low) | Est. Monthly (High) | Notes |
|---|---|---|---|
| HOA fee | $165 | $185 | Common areas; verify inclusions |
| Property tax | $307 | $518 | Will ~2.3%; on $160K–$270K homes |
| Lawn care | $55 | $100 | Owner responsibility |
| Homeowners insurance | $80 | $128 | Lower home values; full structure |
| Utilities | $160 | $240 | Not in HOA |
| Total monthly (excl. mortgage) | ~$767 | ~$1,171 |
Will County Tax by Home Value
| Purchase Price | Annual Tax Est. | Monthly |
|---|---|---|
| $160,000 | $3,680 | $307 |
| $195,000 | $4,485 | $374 |
| $230,000 | $5,290 | $441 |
| $270,000 | $6,210 | $518 |
10-Year Projection — $200K Home
| Cost Item | 10-Year Estimate |
|---|---|
| HOA fees (3% annual increase from $175/mo) | ~$24,300 |
| Property tax (~$4,600/yr) | ~$47,800 |
| Lawn care (~$75/mo) | ~$9,000 |
| Insurance (~$102/mo) | ~$12,200 |
| Utilities (~$197/mo) | ~$23,600 |
| Total non-mortgage cost (10 yr) | ~$116,900 |
Questions on Park Place on the Green?
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