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Neighborhoods like Logan Square, Pilsen and Hyde Park are changing fast with new developments and older apartment buildings trading hands. As apartment rents rise in these neighborhoods, a state lawmaker is proposing a solution, according to DNAinfo Chicago.
The legislation by Rep. Will Guzzardi (D-Logan Square) would repeal a 1997 law banning rent control across Illinois and allow local governments to cap skyrocketing rents, especially in gentrifying neighborhoods. According to Rentjungle.com, the average apartment rent in Chicago last month was $1,947. Longtime Logan Square residents are already concerned about being pushed out of the neighborhood because of rising rents; developers are charging $1,200 to $1,595/month for studio apartments in the newer buildings along Milwaukee Avenue.
The 1997 law was supported by the real estate lobby, which wanted to ensure there was no rent control or stabilization efforts available to local governments. Guzzardi said his bill would not call for rent control, but would give local governments the ability to address rising rents, including studying the incomes of rent-distressed families in gentrifying neighborhoods. Guzzardi's legislation is being supported by affordable housing groups across Illinois.
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