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Chicago Losing Low-Income Homes at Record Pace


Chicago’s stock of two-to-four unit apartment buildings is shrinking at an alarming rate.

According to a report from DePaul University’s Institute for Housing Studies, over the past six years, the city lost more than 20,000 homes, including almost 3600 in 2016.

“It’s clear that that two- to four-unit stock is facing a lot of pressure from both ends of the market, as they’re getting demolished in lower-cost neighborhoods and converted to single-family homes in higher-cost neighborhoods,” said Geoff Smith, director of the Institute for Housing Studies.

The statistics don’t lie. While lower-income homes were being demolished or abandoned, Chicago netted 24,851 new homes in buildings with five units or more, with most of them in neighborhoods with median home prices above $440,000.

Read on HERE:

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.

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