All Forum Posts by: Sid Franklin

What's your point?  Are you comparing Rockford to Lincoln Park?  There are many gentrifying neighborhoods in Chicago where a gang shooting wouldn't phase anyone or impact RE values.  Lincoln Park is gentrified and contains upper and upper, middle class families with school children.  It competes against the North Shore, Barrington, Hinsdale, etc. for residents.  This type of crime in front of a school simply won't be tolerated by Lincoln Park residents.  The Alderman whose Ward the shooting occurred in is blaming the problem on budget cuts resulting from Chicago's debt and its attempt to curb murder rates on the South and West sides by transferring police from Chicago's north side neighborhoods like Lincoln Park. 

http://ward32.org/

 This may help clear out some north side families with kids.

http://www.cwbchicago.com/2017/01/man-shot-outside-lincoln-park-school.html?m=1

Gang Member Shot Outside Lincoln Park School Tuesday

A 25-year-old man was shot in the leg outside of Cardinal Bernardin Early Childhood Center in Lincoln Park on Tuesday evening.

It was the second shooting in that immediate area since Monday.

Witnesses reported seeing a man get out of a black vehicle and open fire outside of the school on Paulina at Diversey around 5:35 p.m. He then returned to the car and fled, witnesses said.

Two hours later, the victim—identified by a source as a documented gang member—walked into Advocate Illinois Masonic Medical Center with a gunshot wound to his left leg. The man, who is in good condition, told police that he was walking near the 1600 block of West Diversey when he heard shots and felt pain.

Parents were picking up their children from Cardinal Bernardin at the time of the shooting, according to a witness. No children were injured.

Police found gunshot damage to church property, and they recovered shell casings in the 2700 block of North Paulina. Nearby residents have been asked to provide surveillance video feeds to police.

Early Monday morning, a 24-year-old gang member was grazed in the face after someone in a passing car opened fire on him in the 2000 block of West Diversey, less than a half-mile west of Tuesday’s incident.

This is a potential disaster for north side real estate values.  Lincoln Park and Lakeview parents are not going to take chances with their children's safety.  Hopefully, Trump won't tweet about it.

http://www.cwbchicago.com/2017/01/man-shot-outside...

Gang Member Shot Outside Lincoln Park School Tuesday

A 25-year-old man was shot in the leg outside of Cardinal Bernardin Early Childhood Center in Lincoln Park on Tuesday evening.

It was the second shooting in that immediate area since Monday.

Witnesses reported seeing a man get out of a black vehicle and open fire outside of the school on Paulina at Diversey around 5:35 p.m. He then returned to the car and fled, witnesses said.

Two hours later, the victim—identified by a source as a documented gang member—walked into Advocate Illinois Masonic Medical Center with a gunshot wound to his left leg. The man, who is in good condition, told police that he was walking near the 1600 block of West Diversey when he heard shots and felt pain.

Parents were picking up their children from Cardinal Bernardin at the time of the shooting, according to a witness. No children were injured.

Police found gunshot damage to church property, and they recovered shell casings in the 2700 block of North Paulina. Nearby residents have been asked to provide surveillance video feeds to police.

Early Monday morning, a 24-year-old gang member was grazed in the face after someone in a passing car opened fire on him in the 2000 block of West Diversey, less than a half-mile west of Tuesday’s incident.

If Trump sends in the troops to Chicago, that won't be good for short term real estate values.  The root cause of Chicago's crime is it's crushing debt along with the State's crushing debt.  There's simply no money - without raising taxes above and beyond the recent "make up" taxes to pay the unfunded pension and benefit debt - to solve the crime problem with extra policing, education, jobs, and other social programs that provide hope and opportunity.  Without additional funds, any action by the Feds is little more than a political stunt.

http://chicago.suntimes.com/politics/trump-if-chic...

If significant pension reform does not occur in 2017, the CPS budget will need to be balnaced by either (1) more revenue via property taxes or (2) teacher cuts.

http://chicago.suntimes.com/politics/cps-to-force-...

CPS banked on $215 million in pension money from Springfield that was allocated in legislation Gov. Bruce Rauner vetoed in December. The money was supposed to be tied to “pension reform.” But when a compromise couldn’t be reached, Rauner pulled the plug.

“Continuing to blame the governor, who has been in office two years, for decades of fiscal mismanagement and bad decision-making is getting old,” she wrote in an email. “CPS willingly chose to budget for money they had not received and knew was contingent upon real pension reform.”

Last year, CPS also passed a budget it considered balanced despite banking on $450 million in pension help from state lawmakers. By January 2016, when that money hadn’t materialized, CPS cut school budgets for the second semester, too. It later furloughed employees for three unpaid work days.

Moody's says Chicago Public Schools, to work its way out of debt, must consider a property tax hike of more than $400 million annually. Moody’s says other options are delaying contributions to an already underfunded teachers’ pension system or declaring bankruptcy.

http://fox2now.com/2017/01/13/ratings-agency-tax-h...

Moody's says Chicago Public Schools, to work its way out of debt, must consider a property tax hike of more than $400 million annually.  Moody’s says other options are delaying contributions to an already underfunded teachers’ pension system or declaring bankruptcy.

http://fox2now.com/2017/01/13/ratings-agency-tax-h...

1. Trying hard is not good enough to deal with Chicago's debt now.  Rahm is awesome at promoting Chicago but he needs Rauner and the legislature to support his efforts.  He's just one man.  We're lucky to have him.  Imagine what investing in Chicago would be like under Mayor Chuy Garcia?

2.  If you want classes sizes under 30 for your children in K-12 in Chicago, you need to pay to send them to a private school - like the Mayor and others in his adminisitration do now.  This is not the case in the suburbs.  Once Chicago property taxes start to equal Park Ridge, Oak Park, Palos Heights, etc. property taxes (without the good schools with low class sizes, low crime, good parks, etc.) the exodus will begin on the north side.

I agree - a Chicago investor should tread very carefully now because the debt has not yet been fully revealed for Chicago, Cook County or the State.  The uncertainty over this debt mess will hurt business development and also decrease population.  Also, be wary of the coming July 2017 utility rate hike.  The massive rate hike will make it more difficult for tenant's to absorb rent increases and slow job growth.  Take advantage of the energy efficiency money that will result from the Bill.

http://www.noexelonbailout.com/news/2016/12/9/1281...

http://www.noexelonbailout.com/news/2016/12/5/1205...

However, there will not be enough yuppies and out-of-staters to keep control of City Hall and avoid the Detroit death spiral of property tax hikes, poor schools, bad crime and service cuts, unfortunately.  the growth is not nearly enough and with Rauner and Rahm fighting rather than luring businesses to Chicago, that is not going to change any time soon.