Homes sold about as quickly as they did in 2019, spending an average of 39 days on the market. The number of May home sales citywide fell by 43.6% compared to May 2019, a more severe drop than seen statewide, according to data from the Chicago Association of Realtors.
The Chicago real estate market was hit hard by the coronavirus pandemic before unrest broke out in late May. In media coverage, expats cite the high cost of living, gun violence and troubled schools as cause to leave. The losses were felt most severely in parts of the city with larger Black populations, like Englewood and its surrounding neighborhoods. Since 2015, Chicago has lost more than 35,000 Black residents, while the number of white, Asian and Latino residents increased, according to U.S. “That now that it’s by my house, it’s a bit scarier.”Īlthough Chicago’s population has been declining for years - and Illinois has lost more residents than any state over the past decade - the loss has been largely attributed to an exodus of Black people. “I guess I do sound, in a way, a bit privileged,” she said.
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“The cops were just going past, and people had shopping carts full of (stuff), and all you heard were sirens, glass shattering and shouting. She came back home, and soon after walked back into the commotion to reach her parked car down the street for her commute.
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dog walk before work, and was met with people jumping out of the store windows below her building, she recounted. Unaware that looting had broken out around her home early Aug. It’s just the fact that that brings more crime, and that does endanger me.” You stealing shoes means nothing to me - that doesn’t hurt me at all. “I think people forget that people do live here, too - it’s not just the Guccis and the Jimmy Choo stores,” she said. The pair supports the Black Lives Matter movement and the uprising, Amber said, but living smack dab at the intersection of the downtown unrest and the COVID-19 pandemic has been incredibly difficult. “We’re just looking for more safety,” she said.Īmber’s husband also works as a nurse. The millennial couple, both age 30, currently live in River North, where much of the summer looting has been centered. I don’t see this getting any better, and so I’d like to leave.”Īmber, who requested her last name be withheld out of concern for her safety, said she and her husband are actively eyeing a home near the Indiana Dunes National Park, about 50 miles outside of Chicago. “It just seems to me now that the city isn’t doing anything about it. “There have been riots before, and looting,” Spun said. The recent downtown looting cemented his decision to leave, he said. He’s looking downstate for his new home, eyeing smaller towns like Quincy, Princeton or Beardstown. But with everything going on, there are a lot of residents who are not feeling safe right now.”Ĭhicago has been Neil Spun’s home for more than half his life, but recently, the 60-year-old state worker has been conflicted about staying in his Edgewater apartment due to the rioting and looting that started in late May following the death of George Floyd. “They want to be able to come outside their homes and enjoy their neighborhood amenities, whether it’s running at the park, enjoying a nice little dinner, shopping. In recent weeks, Murillo said he has talked with three or four sellers who live downtown and are thinking about moving to the North Shore, to Hinsdale or out of Illinois. “And in the high-rise, it starts to feel more like a cubicle after awhile.”īuyers looking for homes in the Loop, South Loop or Gold Coast have been taking a pause and reconsidering their purchase, Murillo said. “And then you have the pandemic, so people are spending more and more time in their homes,” he said. Rafael Murillo, a licensed real estate broker at Compass whose primary market is downtown high-rises, said he has seen a trend of city dwellers looking to move to the suburbs sooner than initially planned, due in part to the recent unrest in the city. Residents of the swanky Near North Side told him they’d be moving “as soon as we can get out.” Others expressed fear of returning downtown in the future. The day after looting broke out two weeks ago, a Tribune columnist strolled through Gold Coast and Streeterville.
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