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You hit the nail on the head with that one. Chicago is seeing this. New housing is being built all arround me. However it's 1.5k for a studio. That's the cheape
by monksy 10y ago
You hit the nail on the head with that one. Chicago is seeing this. New housing is being built all arround me. However it's 1.5k for a studio. That's the cheapest it goes. 2 rooms goes for 2.6k starting.
Nobody is building modest housing options. They're all going luxory in Logan Square. That's incredibly unreasonable. I kind of hope that some of these developers are going to go belly up over this.
- closeparen 10y agoWhy does it need to be the new housing that's affordable? Or are you not seeing any effect on the pricing of older housing?
- monksy 10y agoThe new luxury apartments are demonstrating that a higher price point is achievable in the area. Older housing pretty much is most of the market. But the newer high rises are replacing them. New affordable housing is needed as that the demand is high. (Chicago has had a very liquidable market for housing in the last few years)
- lists 10y agoHave you looked in Pilsen, Humboldt Park, or West Logan Square? I live in Ukrainian Village and live alone in a 2BR I pay $800/mo for.