Quote:
Originally Posted by aaron38
20 apts x 12 months x 40 years = 9600 rent checks he could have collected but didn't. Jeez, hire a property manager, give them half. Still come out ahead. That's crazy.
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Good grief, do you guys have no sense of history.
Do you imagine Wicker Park, like some urban Athena, sprung fully formed from the City's head and remained unchanged ever since.
In the 60's when the guy bought it and rented the apartments, Wicker Park had yet to weather the Division street riots, white flight and urban renewal.
By the 70's the neighborhood was in free fall and fighting for it's life.
Gentrification was decades away and even the artists wouldn't be around til the middle of the 80's.
And you fault him for not keeping up a bunch of apartments that might have rented for $50 and cost $75 to heat in the winter months