High hopes and hapless homes in East Garfield Park

Four years ago Yo was being told that sales had been “incredible” and prices were “fantastic” at Heritage Homes of West Village on the “new revitalized West Side.” New West Realty, auteur of the washout on Wabash and other failed developments, was acquiring additional land in anticipation of continued demand. We were hearing similar tales of high promise from other area developers.

Incredible and fantastic are richly ambiguous words, applicable today to East Garfield Park developments in a foreseeable way unforeseen by their hapless homebuyers, some of whom have seen instances of their home prices collapsing from the $360s to the $30s.

Join me for a video look at the sea of board-ups, vacant land and questionable commerce near the Heritage Homes in East Garfield Park.

In Mexico you can buy t-shirts that say “one tequila, two tequila, three tequila … floor.” Have prices hit a floor in East Garfield Park?

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