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Old Posted Apr 18, 2022, 8:18 PM
Mr. Chicago Mr. Chicago is offline
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Join Date: Apr 2022
Posts: 22
Mr. Chicago here,
On the issue of parking lots and garages, let me open this up with an anecdote. Last summer I was walking around Logan Square when I noticed a for rent sign for a studio apt. I asked a local how much the rent may be. The man replied possibly $800-$1200 a month. I almost fell over. I said an apartment like this in an similar area in Brooklyn would run $3000-$4000 a month. The man told me that is the reason why he moved to Chicago from NYC. If wealth is concentrated such as it is in NYC then you will pay NY prices. A parking garage acts as a barrier to concentration like a green space. Granted that little garage on St. Clare should at least be rebuilt. ( I saw a picture of what may replace it -- nice) Always, however, keep in mind the economic
ramifications of these projects. New York is wobbling economically because it is too expensive.
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