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Originally Posted by marothisu
There are some areas that are weird for sure - basically surface lots here and there, though one of them will have the new and cool library designed by SOM and that new hotel going in gets rid of a little bit too. You're right about Pilsen too - that crowd and Bridgeport (which Chinatown is leaking into and some parts are very Chinese now) will eat the place up. It would be kind of cool to see how far Chinese business expands down into Bridgeport too in a kind of continuous fashion from Chinatown, if at all.
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^ Interesting that you mention Pilsen. In the building that I'm getting ready for apartments, the homeless squatter who used to live there once told me that a lot of young Chinese people would come to him asking him if apartments were available for rent in that particular building.
The interest is there, but change is slow. I looked at a few other buildings for sale in Pilsen and what I am learning is that the biggest barrier to gentrification isn't the city, or the Aldermen, it's the owners of the properties themselves. Many are reluctantly putting their properties up for sale either due to financial issues or because their families are forcing them to. They've owned these buildings for 10, 15, perhaps even 30 years, and have rented them out to hispanic people (many even illegal) for dirt cheap. They haven't raised rents and have developed a friendship with their tenants, and in return the tenants don't bug them too much about maintenance (we're talking major issues, such as broken drains leaking sewage into the basement). Cheap rents and no leases, with tolerance for drug use, in return for monthly rent payments at dirt cheap. It's a wonderful little equilibrium that nobody wants to see disturbed.
Any new buyer will almost certainly face DOB violations, and will have to bring these buildings up to code by tossing the space heaters, putting in new plumbing, electric, HVAC, 2" water service, etc at great expense. In return, they hike up rents and ask for leases and credit checks.
Change will happen, but this particular neighborhood will be digging in their heels all through the process..