How To Handle Proximity To Airport?

[Mike Garrett RAA]

Ever fly into Midway in Chicago? There are houses right at the end of the runway. Aircraft are at about 100' above them when landing. Now that would be an issue.

 

[Deleted member 77547]

Ever fly into Midway in Chicago? There are houses right at the end of the runway. Aircraft are at about 100' above them when landing. Now that would be an issue.

Yes, I've flown out of Midway. Its a straight up when taking off and a straight down dive when landing. The City of Chicago has a sound insulation program for homes impacted along the runway routes for both Midway and O'Hare. Roughly 8,000 homes around Midway have been insulated. There were a couple cases where aircraft slid off icy runways and ended up in an intersection surrounding the airport. About 10 years ago a young child was killed when the plane slid off an icy runway into an intersection crushing a car waiting on a traffic light.

 

[William K]

Ever fly into Midway in Chicago? There are houses right at the end of the runway. Aircraft are at about 100' above them when landing. Now that would be an issue.

Actually, not so much an issue. Typical buyers in the market are "South siders" most of which have grown up with the noise of planes and trains. The Clearing and Garfield Ridge markets of Chicago have some of the highest levels of city workers.
I have friends who live a 1/2 block West of Midway. When they have cookouts and a plane fly's over head you stop talking and pick up as it gets farther away as if nothing has happened. Most homes in the area have been "sound proofed" as a result of programs provided by the FAA. Its a Non-Issue for the typical residential buyer in that market.

 

[Fernando]

I deal with this all the time in this area near the airport. I call it adverse externality but you may or not adjust for location. if all your comps similar path and noise, no adjustment and you can say no adjustments needed. If comps further away from the noise, then you have to adjust.

 

[Mike Garrett RAA]

Sure is fun watching those huge Air Force transports on approach. Looks like those are hardly moving. We also have the world's largest fire fighting tanker based here....a 747. Air Force One lands here a couple of times a year too. Too bad we don't have more commercial direct flights. Usually much cheaper to drive to Denver when flying out to California.