In a typical year, approximately 3% of property owners do not pay their taxes, according to Chicago officials. But in 2021, a projected 10% of property owners won’t pay their tax bills, which would cost the city $65.2 million.
Aldermen sided with the mayor on Tuesday in a dispute over a proposal to build a 48-unit affordable housing complex in Jefferson Park, turning back an effort by Ald. Nicholas Sposato (38th Ward) to block the development.
A plan to transform a long-vacant lot in Jefferson Park into an apartment complex that reignited the furious debate surrounding Chicago’s massive affordable housing shortfall faces a key vote Tuesday.
Here’s a rarity in the downtown office market amid the pandemic: a company secures a sublease for its office space. Crain’s Chicago Business Editor Ann Dwyer joins us with that story and more.
For thousands of Illinois renters who are out of work during the pandemic, the threat of eviction is getting closer to reality.
Exactly 65 years after the brutal killing and shocking open-casket funeral of Emmett Till, the red brick two-flat where he lived with his mother is finally on the path to an official city landmark designation.
The city hunts for real estate developers for commercial corridors on the South and West sides, but will developers bite? Crain’s Chicago Business Editor Ann Dwyer joins us with the stories behind the headlines.
The growing share of city property taxes sent to tax increment finance districts is sure to fuel the argument over whether the districts actually spur redevelopment and eradicate blight or exacerbate growing inequality in Chicago.
A plan to transform a long-vacant lot in Jefferson Park into an apartment complex has reignited the furious debate surrounding Chicago’s massive affordable housing shortfall.
Mayor Lori Lightfoot has repeatedly said 30 days’ notice is not nearly enough time for a single person, let alone a family, to find a new place to live and move. Now, long-term renters will get more notice of an eviction without cause.
The gleaming skyline that makes Chicago an architectural wonder is primarily made up of office towers. But those glassy marvels have been largely empty since March. A look at the prospects for downtown commercial real estate.
An effort to ease Chicago’s affordable housing crisis by permitting coach house dwellings stalled Friday amid opposition from aldermen concerned they would not be able to stop unwanted units from being built in their wards.
Aldermen unanimously agreed Tuesday to ban demolitions near the 606 Bloomingdale Trail for another six months as aldermen craft a measure to blunt rapid gentrification along the popular trail.
Calling access to water a “basic human right,” Mayor Lori Lightfoot on Monday expanded a program designed to help those struggling to pay their water bills or pay off debt from past-due bills.
Never mind the square footage, floor plan or estimated property taxes. The primary selling point of this two-story mixed-use building rests almost entirely in its exquisite facade, which bears the unmistakable mark of the man who designed it.
Chicago’s most famous empty hole is set to get new life, in the latest massive development that will alter Chicago’s skyline in the midst of a global pandemic.