Sunday, December 26, 2010

Rogers Park Condo Bust

Joe Zekas of Yo Chicago writes an article that shows the complete failure of condo developers in Rogers Park. My readers, of course, knew this before the real estate bubble burst when I was trying to save the Adelphi Theater from it's pointless demolition.

I'll quote Joe Zekas one time and let you follow the link to read the article for yourselves:

The Rogers Park condo inventory grew explosively during the past decade. In May of 2008 a block-by-block survey of Rogers Park surfaced 48 active condo conversions and new construction projects. Most of those projects have since failed.
- Joe Zekas


A Rogers Park Condo Bust, Yo Chicago



Furthermore, remember the misguided focus of Alderman Joe Moore:


Alderman Joe Moore: Oblivious to Crime



- Bill Morton

3 comments:

Joe Zekas said...

Thanks for reading YoChicago, Bill.

We wish everyone in Rogers Park a happy and prosperous New Year.

arrielle_p said...

Is there a new updates on this, because it's been a year since you posted this. Thanks.

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Bill Morton said...

Arrielle,

Was the update...

"In May of 2008 a block-by-block survey of Rogers Park surfaced 48 active condo conversions and new construction projects. Most of those projects have since failed".

Or was it ...

"Fifteen years passed before Rogers Park began recovering from the bust of the early 80s. Is there any reason to believe it will recover more quickly from this one"?

Thank you for keeping up with this story.