/biz/ - Business & Finance

>>54728562
Yeah you can see it in the demographic change.

Wealthier, white residents pouring into the gleaming downtown highrises (net taxbase gain) while poorer, black residents are leaving the S/W sides (also a net tax base gain).

And it looks like Kim Foxx is either resigning or not seeking re-election as of today, which despite Vallas losing might actually be even bigger news than the mayoral race.

>>53973072
>Idk, Chicago is a dying city.
Dis-a-fucking-gree. Pic rel.

The city is gentrifying, quickly. Population loss is occurring in the poorest wards, primarily black.

So why is the city still growing? Easy: high-income, educated whites in downtown. This is starting to be felt in the neighborhoods (especially where I live in Edgewater) too. I have numerous reasons as to why the city is a great long-term play as well, but those are for another thread.

>>53831794
Well, I think you answered that already.
>cold
>windy
>niggers

Regular people who live in crime-ridden neighborhoods want out. The neighborhoods with the most crime are largely black. No one wants to live around crime, thus, they leave. Picrel. Look at this next to a heatmap of crime and tell me if you see a correlation.

>>53714099
>population decline
The nuance here is to see WHO exactly is leaving.
>wealthy white urbanites
moving in droves
>poor blacks who cause 90% of the crime
headed south in droves
Outlook for the city actually looks really good.

>>53547667
>Niggers live there, anon. Niggers.
Did you read the end of my comment?

Yes, they do. But they're already leaving in droves. Chicago, for example, is losing population but primarily on the south/west sides. Pretty obvious to see. Look at this map vs a racial map of the city.

>>53533717
>>53533750
And if you're going to look in the neighborhoods for an investment, here's what I've come up with

Fully gentrified
>Lakeview
>Lincoln Park
>River North
>Streeterville
>Loop
>South Loop
>Old Town
>Gold Coast
>West Loop
>Wicker Park
>Bucktown (to a degree)
>Ravenswood
>North Center
>Hyde Park
>Kenwood
>Logan Square (could go lower category)

Gentrifying now
>Logan Square
>Ukrainian Village
>rest of West Town
>Avondale
>Pilsen
>Bronzeville
>Bridgeport (blacks/italians pushed out by chinese, interestingly)
>Near West Side (around Rush)
>EAST Garfield Park
>Portage Park
>Uptown (still shit and will probably never improve)
>Edgewater (similar to uptown)
>Andersonville
>Rogers Park

VERY early strages
>Little Village
>Humboldt Park
>Woodlawn (no meme, houses are selling here for 700k+)
>South shore (same as above
>Garfield Park

Will probably never gentrify
>everything else

If you follow the "next stop up the _____ line" way of thinking you can find some really good deals especially on multifamily. That's my next plan. The city is becoming whiter/richer and most population loss is on the south/west sides, aka the part of the city you see in the news all the time. Pic rel

Not ready to buy for at least another year but I'm saving for a multifamily.

Type of property I'm targeting:
>6-7 bedrooms, preferably 3-4 units (the more 1-beds, the better)
>Priced around 600-800k
>Perhaps not "turnkey" or "aesthetic", but with all structural/non-cosmetic updates already complete
>brick construction (important for my area, commands higher rents)

This is in Chicago btw. Neighborhoods I'm looking at:
>Lakeview/Lincoln Park
Likely out of my price range but where I currently live/own + very safe, good schools, etc.
>Edgewater
>Uptown
>East Rogers Park (around loyola)
Will gentrify quicker once the RPM project is complete (speeds up train commuting times from 45 mins-1hr to 15-30 mins), lots of student rental demand in that area (especially on the lower end, which DQs most of the new luxury construction there)
>Wicker Park
>West Town
>Ukrainian Village
>Logan Square
>Bucktown
Current gentrification trend has been "next stop up the blue line" for the better part of 20 years now, if I can find a deal in those neighborhoods I can bet on that sticking around long-term as more young people decide to stay in the city long/longer term
>Avondale
>Pilsen
>Bronzeville
>East Garfield
All in VERY early stages of gentrification but has either good existing housing stock or lots of open space for infill development + big capital projects that will significantly increase livability long term.

Kind of following this population growth map as the city becomes nicer outside of those aforementioned "blue-chip" neighborhoods. Obviously downtown is not in consideration because I don't have the capital/wherewithal to buy a skyscraper or buy and hold land there.

>>53411423
>>53411511
I've gone into this in threads before but Chicago is exceptionally undervalued. The good neighborhoods are amazing, the bad ones are ... well, you see it on the media pretty frequently. And the great news is those bad neighborhoods are emptying - quickly. Pic very much related.

You'll also see the talking point that Chicago, the city specifically, is losing population. Note the areas that are losing and which are gaining - the south and west sides are getting hammered. This is expected - this is where the vast majority of the crime occurs. A very localized, violent group of neighborhoods on the south and west sides.

You can see the gentrification happening in real time too. Take the north/northwest side for example - first it was Wicker Park, then Bucktown, then Logan Square, now Avondale - gentrification is following the transit lines further and further from the core of downtown. You can see this happening in real time in:
>Pilsen
>Bronzeville
>Near West Side (not west loop, already fully gentrified)
>Ukrainian Village
>Former Cabrini Green Site
Et cetera.

Additionally, while perhaps not headquartered here, every major
>law firm
>tech company
>fortune 500
>large corporation of any kind
ALL have a presence here. Wages are lower than the coasts, but COL is MUCH lower, especially when it comes to housing. Taxes are undoubtedly high, but COL/housing makes up for this difference. Additionally, much of the city is walkable/public transit is much more reliable than the rest of the US so living here without a car is semi-feasible.

I have a LOT more, but this is a snapshot.