Land purchase in Rogers Park

taxpayer at

According to Curbed, Sam Goldman has purchased the Heartland Cafe site at Lunt and Glenwood for $1.3 million and proposes to build 60 apartments, of which 54 would be unaffordable. The Alderman's survey indicates most respondents want fewer unaffordable units. This price implies $21,667 per unit ($24,074 per unaffordable unit), which seems pretty cheap to me. The low price might reflect the probability that the total number of unaffordable units will end up being less.

"Image credit:" reallyboring is licensed under CC BY-NC-ND 2.0