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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.phpTen 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).
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).
Hm. Funny, that.
Side point: even with a $15/hr minimum wage that ain't livable.
2 replies
= new reply since forum marked as read
= new reply since forum marked as read
seriously, the new low end? 
