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Why are homes in the $400,000 - $700,000 price range holding up in the Chicagoland area? 

Here is a quote from this article,

http://www.chicagotribune.com/business/chi-bargain-mansions-27-jul27,0,3574823.story

"Though homes in the $400,000-to-$700,000 range have weathered the financial storm better than expected, the glut of eye-popping mega-mansions has owners competing for the attention of a select few."