Friday, July 18, 2014

Housing Recovery Update: Chicago to seize 41 vacant properties for rehab- 30,000 Residential Buildings Remain Vacant

Crain's Chicago Business reports:
The city is acquiring 41 vacant residential properties, largely on the South Side, and turning them over to developers to renovate them.

The Chicago Plan Commission voted unanimously yesterday to allow the city to acquire the properties, just a small fraction of the more than 30,000 vacant residential buildings within city limits.
A housing "recovery" so weak, a big city like Chicago has 30,000 vacant residential buildings!