Environmental

Radon gas is a concern in Illinois real estate because:

AIt causes structural damage to foundations

BIt is a naturally occurring radioactive gas that can accumulate in buildings and is the second leading cause of lung cancer in the US✓ Correct

CIt contaminates municipal water supplies throughout the state

DIt is produced by lead-based paint deterioration

Explanation

Radon is a naturally occurring, colorless, odorless radioactive gas produced by the decay of uranium in soil and rock. It can seep into buildings through foundation cracks and accumulate to dangerous levels.

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Key Terms to Know

Net Operating Income (NOI)

The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.

Zoning

Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.

Variance

Official permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.

Eminent Domain

The power of government to take private property for public use, with the requirement to pay the owner just compensation.