CHICAGO | Politics and Current Events

[LouisVanDerWright]

^^^ You can kiss all housing stock in this city that hasn't been gut rehabbed in the last 20 years goodbye. Prepare for large sections of the South and West sides to be razed wholesale since it's now illegal to fix buildings for a profit.

Seriously, whàt exactly is supposed to happen now when a building is half vacant, hasn't been updated in 100 years, and the rents are $400 a month? How's that math going to work when you need to put $100k a unit into it to make it habitable? How you gonna recoup that $100k at the rate of $400 a month? You aren't, the building is going to be left to rot until it is torn down or until it burns down and kills 9 children because the tenants can't be evicted and are living in a half abandoned 120 year old shack.

Anyone who supports this bill is in favor of those nine children dying in that fire in little village. Literally the landlord had been trying to evict them from a half abandoned building for 8 months and couldn't because of our stupid RLTO. And of course it's the landlords fault that they dismbered their fire alarm and wouldn't move out of the half abandoned derelict building. Guess what is happening to that building now by the way? It's being razed, another greystone six flat biting the dust because the bleeding brain liberals think they can just legislate rent increases out of existence with no consequences. That building burning and being destroyed is displacement. That's another six units that will never exist again.

I probably will not be purchasing and renovating another building in this city for residential use ever again if rent control goes into effect. It's just the last straw, it's not worth it