But the Chicago Sun-Times has another headline for the congressman from Chicago's Northwest Side.
Every time developers asked to build condominiums in his gentrifying 26th Ward, then-Ald. Billy Ocasio had the same answer:Had the condo been part of a typical Chicago affordable housing program, Figueroa would not have been able to flip that condo. But she could and did, and Figueroa made a 55 percent profit on a home she owed for a little more than a year.
Your project won't be approved unless it includes at least one "affordable home."
One person who benefited from Ocasio's directive: Omaira Figueroa, the daughter of U.S. Rep. Luis V. Gutierrez, Ocasio's political mentor.
With a $140,000 loan from her parents, Figueroa bought her new two-bedroom, two-bathroom affordable condo in Humboldt Park in June 2008 for $155,000, property records show
This isn't the first time a Gutierrez real estate deal has raised eyebrows. He flipped a townhouse that was developed by convicted-political fixer Tony Rezko.
Related post:
Cong. Gutierrez got special real estate deal from Tony Rezko
Technorati tags: news illinois chicago Tony Rezko Luis Gutierrez immigration news arizona
No comments:
Post a Comment