The Chicago ward where the Obama library is located is one of the only parts of the city to see an increase in STR licenses.
An analysis of short-term rental licenses in the Chicago ward that includes the new Obama Presidential Center shows that new permits have increased sharply in the area, prompting fears of displacement and rent spikes for long-time residents.
"Comparing licenses expiring in 2019, the first full year of available data, with licenses expiring this year, WBEZ found the city, overall, has seen a 38% decrease in shared housing licenses. But the 20th Ward has seen a 46% increase during the same span," explain Esther Yoon-Ji Kang and Cam Rodriguez in the Chicago Sun-Times.
"It would be a shame if the monument to the first Black president, in the heart of this historic Black community, displaces Black residents. I don’t think that that is President Obama’s intention at all, but it is what the market is bearing," said Alderman Desmon Yancy, who last year sponsored an ordinance that aims to protect residents from displacement.
FULL STORY: As Airbnbs explode around the Obama Center, housing advocates say affordable units are disappearing
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