Limiting Chicago's Downtown Condo Conversion

A record-setting amount of apartments in Chicago were converted into condominiums in 2005, and Mayor Richard Daley has formed a task force to limit the trend which is rapidly diminishing affordable housing in the city.

"Conversions have become a hot political issue in other cities, including Los Angeles and Las Vegas, where politicians and housing advocates have proposed moratoriums on such developments. It's not clear whether the task force would go that far."

A similar conversion boom in the '70s prompted a 40-day moratorium on condo conversions.

"More than a quarter of a century later, with Mayor Daley approaching a re-election campaign, affordable housing is a political issue again. The sustained real estate boom of the previous 10 years has pushed purchase prices - including those for converted apartments - beyond the reach of many in the middle-to-low income brackets."

Full Story: Daley seeks to slow condo conversions

Comments

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $199
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $14.95 a month
Women's t-shirt with map of Los Angeles

City T-Shirts for the ladies!

Women's Supersoft CityFabric© Fashion Fit Tees. Now available in six different cities.
$24.00
Woman wearing city map tote bag

City Shoulder Totes - New Cities Added!

Durable CityFabric© shoulder tote bags available from 9 different cities.
$22.00