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Recursion

(56,582 posts)
Tue Feb 9, 2016, 07:13 AM Feb 2016

2 Bedrooms In Cabrini-Green's New High Rise Start At $3,200 A Month

http://chicagoist.com/2016/02/08/2_bedrooms_in_cabrini-greens_new_hi.php

Ten years ago, Cabrini-Green was best known for its notoriously struggling public housing project of the same name. Today, it's becoming something of a goldmine for developers who have planned new, luxury high rises for the Near North Side area not far from where the dilapidated public housing towers once stood.

One of the first new developments to spring up from around Cabrini-Green's demolition rubble is Xavier, a sleek, 18-story, eco-friendly building, which is now accepting tenant applications at sky-high rental prices. Studios in the 625 W. Division St. tower start at $1,825 a month, according to listings; one bedrooms start at $2,300, and two bedrooms start at $3,275.

The units boast such amenities as Nest Thermostats, floor-to-ceiling glass windows and exposed concrete ceilings. The building's shared spaces include a rooftop with a chef's kitchen and two dog runs. It sounds divine—if you have the income for it.

With Chicago in the midst of a housing crisis we can't help but see the promises of these luxury developments coinciding with the displacement of Chicago's working class and the hastening demise of its affordability for anyone making less than $72,000 a year (that's how much you'd have to make to reasonably afford a studio apartment at $1,825 a month, based on this popular rental formula).


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2 Bedrooms In Cabrini-Green's New High Rise Start At $3,200 A Month (Original Post) Recursion Feb 2016 OP
Nauseating JackInGreen Feb 2016 #1
Candy man ruined this place for me no matter how posh yeoman6987 Feb 2016 #2
Off topic JackInGreen Feb 2016 #3
I will try it. I believe I heard the name but hadn't seem it. yeoman6987 Feb 2016 #5
Keep in mind that Clive Barker gives Stephen King nightmares, me too. nt Mnemosyne Feb 2016 #22
In The Hills, The Cities AngryAmish Feb 2016 #31
To unskew your impression, check out the Jimmy Flannery mysteries by the late Robert Campbell pinboy3niner Feb 2016 #4
Thank you. Anything to get candy man out of my mind would help yeoman6987 Feb 2016 #6
yep, double disturbing - combinging the candyman imagery and salin Feb 2016 #23
That's getting to be average rent here in Austin. hobbit709 Feb 2016 #7
And that's everywhere I've lived since high school Recursion Feb 2016 #8
When I got to Austin in 1974, I had an efficiency for $70/mo ABP. hobbit709 Feb 2016 #11
They're sharing housing like most Americans have throughout history Recursion Feb 2016 #12
I know of some that are sharing 6 people in 2 BR place. hobbit709 Feb 2016 #14
They charge $1000/BR in India?? GummyBearz Feb 2016 #26
Mumbai real estate is more expensive than San Francisco Recursion Feb 2016 #27
Interesting GummyBearz Feb 2016 #28
Once you get out of the cities it's much cheaper Recursion Feb 2016 #30
So where are the poor people supposed to live . . . other than on the street? Vinca Feb 2016 #9
OTOH would you prefer to return to the old projects? Recursion Feb 2016 #10
It would have been nice to build affordable housing on the site instead. Vinca Feb 2016 #15
Here's the worst bit: that *is* "affordable" Recursion Feb 2016 #16
Wow . . . just wow. The world has really changed. Vinca Feb 2016 #18
And that's why millennials roll their eyes Recursion Feb 2016 #19
Something has to be done. Vinca Feb 2016 #20
same as DC prices near AU wordpix Feb 2016 #13
Petworth was OK for a while Recursion Feb 2016 #17
Portland is no better. MissB Feb 2016 #21
Look at this one PasadenaTrudy Feb 2016 #36
Nice house. MissB Feb 2016 #37
Location, location, location SoCalDem Feb 2016 #24
wow. I remember Cabrini Green. Liberal_in_LA Feb 2016 #25
Good Times was implicitly set in Cabrini-Green, even though they never once referred to it by name. StevieM Feb 2016 #35
The same problem is happening here in Austin, TX. Texasgal Feb 2016 #29
It's happening everywhere. Rent too high, pay too low. Initech Feb 2016 #33
With the new stadium being built in Inglewood... Initech Feb 2016 #32
A One bedroom at $2,300??? That's a bargain. Yavin4 Feb 2016 #34

JackInGreen

(2,975 posts)
1. Nauseating
Tue Feb 9, 2016, 07:19 AM
Feb 2016

I keep seeing these rental costs and keep wondering who the HELL can afford it working a regular job.

JackInGreen

(2,975 posts)
3. Off topic
Tue Feb 9, 2016, 08:34 AM
Feb 2016

But try the short story "The Forbidden" by Clive Barker, origin of Candyman and imo way more disturbing.

 

yeoman6987

(14,449 posts)
5. I will try it. I believe I heard the name but hadn't seem it.
Tue Feb 9, 2016, 08:53 AM
Feb 2016

Thank you so much for the recommendation.

pinboy3niner

(53,339 posts)
4. To unskew your impression, check out the Jimmy Flannery mysteries by the late Robert Campbell
Tue Feb 9, 2016, 08:45 AM
Feb 2016

A crime solving sewer worker and precinct captain in the machine of "post-machine" Chicago. A fun read.

salin

(48,955 posts)
23. yep, double disturbing - combinging the candyman imagery and
Tue Feb 9, 2016, 08:13 PM
Feb 2016

the ridiculously expensive housing to erase/replace a record of how we "supported" those at the bottom end of the economic and racial status scales, in a way that created/maintained threat, danger, and a state of predation while kept those 'others' away from those higher up the scales.

Why is a modern version of poltegiest being released coming to mind when reading this?

hobbit709

(41,694 posts)
7. That's getting to be average rent here in Austin.
Tue Feb 9, 2016, 08:59 AM
Feb 2016

You can't find anything much below $1000/mo per bedroom even in a slum.

Recursion

(56,582 posts)
8. And that's everywhere I've lived since high school
Tue Feb 9, 2016, 09:00 AM
Feb 2016

Even in college I was splitting a 2BR for about $200 with 4 people.

Don't live on the coasts if high rent makes you crazy.

hobbit709

(41,694 posts)
11. When I got to Austin in 1974, I had an efficiency for $70/mo ABP.
Tue Feb 9, 2016, 09:12 AM
Feb 2016

The first house I shared with people was a 3 Br for $195/mo + bills.
15 years ago that same house sold for $320K-Hell you could buy the whole block for that with change left over when I lived there.
Same house now is at least $800K.

I can't see how people making $10/hr are living. Austin is the only major city with a declining Black population-they're being driven out by the rising costs of living.

I'm lucky my house is paid for and my property taxes dropped from $2900+ to $1500+ since I turned 65 even though they upped the valuation of my house by $12K.

Recursion

(56,582 posts)
12. They're sharing housing like most Americans have throughout history
Tue Feb 9, 2016, 09:17 AM
Feb 2016

The idea of not sharing housing is relatively new.

Recursion

(56,582 posts)
27. Mumbai real estate is more expensive than San Francisco
Tue Feb 9, 2016, 09:57 PM
Feb 2016

Though thank God I'm only here a few more months.

Recursion

(56,582 posts)
30. Once you get out of the cities it's much cheaper
Tue Feb 9, 2016, 10:01 PM
Feb 2016

But Delhi, Mumbai, Hyderabad, Chennai, and Bangalore (and to a lesser extent Ahmedabad and Kolkata) are all in crazy real estate bubbles right now. Working people either live in public housing (which is much more available here, though it's segregated by ethnicity, religion, and unofficially caste although at least in theory that's illegal) or pack four people into a bedroom.

Vinca

(50,303 posts)
15. It would have been nice to build affordable housing on the site instead.
Tue Feb 9, 2016, 09:20 AM
Feb 2016

The high rise projects were awful, but it's too bad to cede land to the moneyed . . . just because of the money.

Recursion

(56,582 posts)
16. Here's the worst bit: that *is* "affordable"
Tue Feb 9, 2016, 09:23 AM
Feb 2016

Seriously. That's what that word means at this point.

Vinca

(50,303 posts)
18. Wow . . . just wow. The world has really changed.
Tue Feb 9, 2016, 09:30 AM
Feb 2016

We bought our first house back in 1975 for a whopping $24,000 with $50 down. That's less than a year's rent these days.

Recursion

(56,582 posts)
19. And that's why millennials roll their eyes
Tue Feb 9, 2016, 09:31 AM
Feb 2016

Seriously we should just pass a damn VAT. Take the rich out of the political equation.

Vinca

(50,303 posts)
20. Something has to be done.
Tue Feb 9, 2016, 09:37 AM
Feb 2016

I guess this is why I think free college is such a good idea. With that giant debt following someone around forever they wouldn't qualify to buy a travel trailer let alone a house. I blame the "trickle down" concept for most of this. It's not money that's sloshing around our feet after all these decades.

MissB

(15,812 posts)
21. Portland is no better.
Tue Feb 9, 2016, 09:40 AM
Feb 2016

Those costs one up with rent prices I'm seeing for new buildings. One right across from where I work has three bedroom units on the upper floors- 2200 sq feet each -at $4800/month.

It's insane.

I'm in my 40s, hubby is in his 50s. He bought our first home for $55k back in the late 1980s. Same house would sell for $700k+ now. We probably couldn't afford our current house now, which we paid slightly less than $500k for about 13 years ago. Houses are selling for $700k+ in the Sellwood area of SE Portland which to me is just, well, insane. I wouldn't want to pay that much to live right next to someone in a busy area on a small lot.

MissB

(15,812 posts)
37. Nice house.
Tue Feb 9, 2016, 10:58 PM
Feb 2016

I fear that's where Portland is headed in terms of housing prices - over a million for a small house.

A friend is trying to buy in sellwood - the last house they looked at was located a block from a busy street where lots of large apartment buildings are going in. She was looking at over $650k for the 3 bd/2 ba house. It's getting so expensive so fast. And the traffic has gotten pretty bad in the past few years, especially as the economy has improved.

And I don't blame folks for moving here. It's a great place to live, and we have plenty of water. If I owned that house down the street from you, I'd sell and buy a fabulous home in Portland! (And likely have no mortgage)

SoCalDem

(103,856 posts)
24. Location, location, location
Tue Feb 9, 2016, 09:53 PM
Feb 2016

We just bought a 5,930 sq ft house in Centralia WA for $284.500 (2965 up w/ finished full basement)

Apparently Cabrini Green is now chic

StevieM

(10,500 posts)
35. Good Times was implicitly set in Cabrini-Green, even though they never once referred to it by name.
Tue Feb 9, 2016, 10:21 PM
Feb 2016

It was seen in the opening and closing credits.

Texasgal

(17,047 posts)
29. The same problem is happening here in Austin, TX.
Tue Feb 9, 2016, 10:00 PM
Feb 2016

As a native it infuriates me!

We now have a housing shortage, so all the new apartments are now luxury. No reasonable rent amount allowed. It's just awful!

Initech

(100,100 posts)
32. With the new stadium being built in Inglewood...
Tue Feb 9, 2016, 10:06 PM
Feb 2016

I can only imagine what it's going to do to LA rent prices.

$3200 is absolutely insane.

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