The $500 million Obama Presidential Center has been pitched as a transformative boost for the South Side of Chicago. Will longtime residents be able to stay to enjoy it?
For the past two years, South Side homeowners said, they’ve had to swat away increasingly frequent calls from developers who want to purchase their homes.
Just before she moved to a home in the suburbs, Hamer noticed that an investor had bought and flipped the house across the street. It sold at a markup of roughly 10 times what the developer paid for it. such as establishing rent controls, would also help, he said, but would need to be adopted citywide — a process that would take much longer than a neighborhood ordinance.
One recent listing read: “71st Street will be the next hot area for shopping, restaurants and rental units according to the Obama planning committee.”Romeo got involved in the push to safeguard residents of the South Side soon after returning from college.
Then, in 2021, his mother lost her job as a charter school teacher and fell behind on tax payments. For years, Romeo said, she told no one. Before long, she was close to $30,000 in debt.last year from the Field Foundation of Illinois It’s why the list of demands that Romeo’s organization and its partners have devised to present to the city includes tax debt forgiveness. Low-income residents of Chicago’s 5th and 7th wards owe roughly $2.3 million in property taxes as of 2019, according to the Obama Community Benefits Coalition.
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