Comment: Total cost of the project is $711 million that will "create or preserve" 1,223 housing units. That's $581,000 per unit. The median home price in Chicago is just $390,000 according to Redfin or $325,650 according to Zillow.
As Wirepoints observes, the median home price in Chicago is something like $325,650 to $390,000. However, many of these new units will be in unfashionable neighborhoods, and many will be apartments, so the relevant comparison price is much lower. Also, as I have pointed out on Wirepoints before, suburban new construction houses are available for less than $200K.
Fed up neighbor
1 month ago
Does this guy run a printing press on the side, or is the money falling from the sky. Did anyone wonder why it’s always for the POC and never in White neighborhoods.
Fullbladder
1 month ago
Robert Taylor homes 2.0
Call my shrink
1 month ago
He should be removed for fiscal mismanagement of taxpayer funds. Then institutionalized for being a Braindead idiot
Nauvoo Social Club
1 month ago
The pigs will feed at the trough on this clown show idea
But the Bears are his top priority. Pigs don’t have a chance.
The Railroader
1 month ago
Chicago is trying to issue long term debt to pay current expenses and interest on previous borrowings. Meanwhile, Mayor Cliff Notes is still out there announcing new piles of confiscated taxpayer cash for the political animals to skim.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
As Wirepoints observes, the median home price in Chicago is something like $325,650 to $390,000. However, many of these new units will be in unfashionable neighborhoods, and many will be apartments, so the relevant comparison price is much lower. Also, as I have pointed out on Wirepoints before, suburban new construction houses are available for less than $200K.
Does this guy run a printing press on the side, or is the money falling from the sky. Did anyone wonder why it’s always for the POC and never in White neighborhoods.
Robert Taylor homes 2.0
He should be removed for fiscal mismanagement of taxpayer funds. Then institutionalized for being a Braindead idiot
The pigs will feed at the trough on this clown show idea
But the Bears are his top priority. Pigs don’t have a chance.
Chicago is trying to issue long term debt to pay current expenses and interest on previous borrowings. Meanwhile, Mayor Cliff Notes is still out there announcing new piles of confiscated taxpayer cash for the political animals to skim.
Illinois elects its dumbest.
That sounds like a ponzi scheme.
Pay more get less is the policy in Chicago and Illinois. Leave it to public sector workers and you get this. It will then soon be a ghetto.