LaSalle Street S.R.O. Reopens, Makes 0.001% Dent in Chicago’s Housing Crisis
Nine months after we reported that the Carling Hotel at 1512 North LaSalle Street was being renovated, the S.R.O. is open once again. The City of Chicago bought the rooming house for $10 million using money from its 2014 S.R.O. Preservation Initiative and the Affordable Housing Opportunity Fund. The property was then sold to Michaels Development for $3.8 million, which pledged to put $27 million worth of improvements into it....
