Southsiders are Buying Property in Chicago -- Stay Informed

Happy Financial Literacy Month!

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Chicago Southsider has been around since 2021, and we've been going behind the scenes to showcase the South Side of Chicago.

Follow and like our new Facebook page at Chicago Southsider to make sure you don't miss any updates.

Developers Transform Woodlawn Vacant Lots into New Homes

Have you heard about what's happening on the South Side of Chicago? Last month, community leaders came together for Phase 1 of Woodlawn Pointe. Five Black developers are on a mission to transform 11 Woodlawn vacant lots into 30 new homes. Update: Dajuan Robinson, one of the developers, completed his first ground up construction in only 6 months. The project was financed by C3 Fund. Follow Chicago Southsider on Facebook to go behind the scenes with us.

Prepare to Buy Property and Vacant Lots in Chicago

Last year, the city launched a new comprehensive portal called ChiBlockBuilder, which consolidates Chicago’s land sale programs. ChiBlockBuilder will help buyers find available properties, identify prices, and complete the application process.

In November 2022, Mayor Lightfoot announced that 2,000 vacant City lots were available for purchase and redevelopment by private buyers. The application deadline closed on February 3, 2023 but we will keep you posted on the next round of vacant lot sales. Read more about the program so you can plan ahead.

If you're thinking about buying property or a vacant lot in Chicago, here's how you can prepare:

• Start saving money. The earlier you get started, the more money you could accumulate. Let's say you start saving $100 every week. At the end of 6 months, you would have $2,400 saved. Save as much as you can towards the future you want.

• Pay down debt. If you have credit card debt, start paying it down. Ask your credit card company if they can give you a lower interest rate so you can save some money on credit card payments. Tell them you would like them to review your credit profile to determine if you qualify for a lower rate.

• Build your credit score. If you want to make room for more assets in your life, take care of what you already have. Prove that you are ready for the next level by paying your bills on time and being responsible with your credit. By law, you can get a free copy of your credit report every 12 months from Equifax, Experian, and TransUnion. Through December 2023, you can get a free credit report each week from each of the credit bureaus. Go to AnnualCreditReport.com for more information. Go to AnnualCreditReport.com.

• Attend a Real Estate Workshop. Chicago Southsider will share the latest homebuyer and investor workshops to make sure you are informed.

• Find a Real Estate Broker. A licensed broker can help you find property in your area and connect you to lenders to make your dreams of owning property a reality. If you are a real estate broker and would like to advertise your services or events, send an email to Chicago Southsider at [email protected].

LIKE our Facebook page to explore hidden gems on Chicago's South Side with us. Guess what? Lorraine Hansberry's childhood home is also on the South Side of Chicago.

Going Behind the Scenes of A Raisin in the Sun

A Raisin in the Sun was inspired by Lorraine Hansberry's experience in Chicago. Do you know her family's Woodlawn story? Her father, Carl Hansberry, used real estate to transform Chicago's South Side. If you haven't read the story, you need to check it out now.

News You Can Use

• Chicago Tool Library: You can borrow tools instead of buying them.

• Closed school on Chicago's South Side turns into shelter for migrants

• A Chicago mural project becomes a nationwide movement

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Did You Know...

• Emmett Till's childhood home is in Woodlawn. It's a Chicago landmark.

• Lorraine Hansberry's childhood home is in Woodlawn. It's a private residence.

Pageant Season!

Miss Illinois USA pageant. The 2023 Miss Illinois and Miss Illinois Teen USA pageant will take place from May 26-28, 2023 at the Braden Auditorium of Illinois State University in Normal, Illinois.

Miss Illinois State Competion. The 2023 Miss Illinois competition will take place at the Marion Civic Center from June 6-10, 2023.

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