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Foreclosure Crisis Impacts Chicago's Rental Housing Market

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Publication Date: May 2008

Publisher(s): Woodstock Institute (Chicago, Ill.)

Author(s): Geoff Smith

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Economics (Property and wealth)

Keywords: Rental housing; Affordable housing; Foreclosure

Type: Report

Coverage: Illinois

Abstract:

An analysis of 2007 foreclosure filings shows that 35 percent, or over 4,800 foreclosure filings, were on 2- to 6-units multifamily properties. Communities with the highest concentrations of foreclosures on 2- to 6-unit properties include West Garfield Park, East Garfield Park, Austin, Humboldt Park on the West Side and New City, Englewood, and West Englewood on the South Side.