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Chicago Cheat Sheet: Chicago foreclosures hit 12-year low … & more
Fifty-year housing discrimination suit nears the end
Chicago-area foreclosures at lowest level since at least 2006
The number of foreclosures in the Chicago-area last year was the lowest in at least 12 years, according to a report from Attom Data Solutions. Some 32,400 homes in the area were in foreclosure in 2018, the lowest since at least 2006, when the firm started tracking them. The decline shows lenders are issuing fewer risky loans. [Crain’s]
Half-century-old housing discrimination suit coming to an end
A federal judge approved a settlement that finally bring an end to a 53-year-old housing discrimination lawsuit against the Chicago Housing Authority. Judge Marvin Aspen’s ruling will clear the way for the CHA to make a series of changes to close the case by July 2024. The Gautreaux case was a class-action lawsuit brought on behalf of public housing resident and community organizer, Dorothy Gautreaux. [Chicago Tribune]
MedProperties proposing new medical complex in Buffalo Grove
Developer MedProperties Group wants to build a four-story, 70,000-square-foot medical office building in Buffalo Grove for Northwest Community Healthcare. The Chicago-based firm would tear down two existing buildings used by the healthcare provider on the eight-acre site at Weiland, Lake-Cook and McHenry roads. It also would build a restaurant on an outlot on the property. [Daily Herald]
Affordable housing in old Pilsen church on hold for now
The Resurrection Project is pulling back on its plans to redevelop the old St. Vitus Catholic Church in Pilsen into a 42-unit affordable housing complex. The nonprofit is re-evaluating its plans for the building at 1814 South Paulina Avenue city community concerns and challenges arising from the property’s historic status. [Block Club]
CA Ventures hints at plans for tower near Illinois Center
CA Ventures is teasing a vision for a nearly 50-story tower on property at Lake and Stetson streets near the Illinois Center. The Chicago-based firm took out ads in Real Estate Alert picturing the building on a 40,000-square-foot lot that CA has yet to acquire. [Crain’s]