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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums2 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.phpOne 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 divineif 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).
JackInGreen
(2,975 posts)I keep seeing these rental costs and keep wondering who the HELL can afford it working a regular job.
yeoman6987
(14,449 posts)That was a scary movie.
JackInGreen
(2,975 posts)But try the short story "The Forbidden" by Clive Barker, origin of Candyman and imo way more disturbing.
yeoman6987
(14,449 posts)Thank you so much for the recommendation.
Mnemosyne
(21,363 posts)AngryAmish
(25,704 posts)CGI has caught up to it
pinboy3niner
(53,339 posts)A crime solving sewer worker and precinct captain in the machine of "post-machine" Chicago. A fun read.
yeoman6987
(14,449 posts)At least my impression of CG.
salin
(48,955 posts)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)You can't find anything much below $1000/mo per bedroom even in a slum.
Recursion
(56,582 posts)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)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)The idea of not sharing housing is relatively new.
hobbit709
(41,694 posts)Fold out couches and bunk beds.
GummyBearz
(2,931 posts)Recursion
(56,582 posts)Though thank God I'm only here a few more months.
GummyBearz
(2,931 posts)My Indian coworker owns a mansion back there for less per month
Recursion
(56,582 posts)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
(50,302 posts)Recursion
(56,582 posts)It's not like I have a good answer.
Vinca
(50,302 posts)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)Seriously. That's what that word means at this point.
Vinca
(50,302 posts)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)Seriously we should just pass a damn VAT. Take the rich out of the political equation.
Vinca
(50,302 posts)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.
wordpix
(18,652 posts)I couldn't afford it
Recursion
(56,582 posts)That was the last place I lived in DC. Nice neighborhood, actually.
MissB
(15,812 posts)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.
PasadenaTrudy
(3,998 posts)down my street in SoCal. Also, I think Sellwood is a much nicer 'hood than mine
https://www.redfin.com/CA/South-Pasadena/1945-Fletcher-Ave-91030/home/7008357
MissB
(15,812 posts)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)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
Liberal_in_LA
(44,397 posts)StevieM
(10,500 posts)It was seen in the opening and closing credits.
Texasgal
(17,047 posts)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
(100,099 posts)Initech
(100,099 posts)I can only imagine what it's going to do to LA rent prices.
$3200 is absolutely insane.
Yavin4
(35,445 posts)I live in NYC.