When city leaders and developers discuss new plans for major real estate projects, some groups are often left out of the discussion. What’s being done to bring more Black and Latino developers into the industry.
Real Estate
While some people may have gotten used to the comforts of working from home, others may be itching to get out. The stakes for the city couldn’t be higher, especially for the owners and managers of the massive pieces of real estate in the city’s central business district that are still sitting mostly vacant.
Property owners and developers who want to demolish existing buildings in Pilsen and near the 606 trail would be required to pay a fee that would be used to fund affordable housing projects across the city, under a proposal set for a final vote Wednesday.
Property owners and developers who want to demolish existing buildings in Pilsen and near the 606 trail would be required to pay a fee that would be used to fund affordable housing projects across the city, under a proposal introduced Wednesday by two progressive aldermen and Mayor Lori Lightfoot.
The red brick two-flat in Woodlawn is now protected from demolition and any significant changes to its exterior. The vision is to transform the home into an international heritage pilgrimage site.
Two measures that would make it harder to convert some small apartment buildings into single-family homes in rapidly gentrifying neighborhoods advanced Tuesday as part of a renewed effort from city officials to boost Chicago’s supply of affordable housing.
Five years after acquiring a block of properties on Bryn Mawr Avenue through eminent domain, Northeastern Illinois University has officially scrapped its plan to build student housing on the site and is casting about for other uses.
Credit card company Capital One plans to have local employees work in its downtown office or remotely. Crain’s Chicago Business editor Ann Dwyer has details.
Aldermen on Tuesday advanced a scaled-back effort to test whether Chicago’s affordable housing crisis could be eased by permitting basement, attic and coach house dwellings in five areas of the city.
Eleven firms are interested in building or operating a casino in Chicago — and eight told Mayor Lori Lightfoot that it should be downtown, according to a limited summary of the proposals submitted by firms released by the mayor’s office.
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.
