CHICAGO (WLS) -- For years, housing advocates warned of gentrification encroaching in Chicago's South Side neighborhoods spurred by the incoming Obama Presidential Center.
The Illinois Answers Project took a closer look at who is buying property in the nearby South Shore neighborhood. It found investors are flocking to the area a higher rate than ever before.
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Across the country, corporate investors are buying larger market shares of homes, and that trend has only grown during the global pandemic. That trend is more pronounced in low-income and predominantly Black neighborhoods.
In the zip code covering much of South Shore, investors bought up 32% of homes for sale in the third quarter of 2022 - that's tied for the most in the city, according to Redfin data.