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The Secret Potential of the Southside | The Secret Potential of the Southside |
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| Written by Anna Góral | |
| Sunday, 29 April 2007 | |
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I have recently met several families who, for various reasons, mostly financial, chose to move from the north side. As biased as this may sound, there is no denying that southern life is more affordable and peaceful and, most importantly, offers a much greater potential that makes the south side an investor's paradise.
This potential has not escaped the notice of the local authorities. Even as recently as the early 1990s, the future of the south looked rather grim. The bankruptcy of Midway Airlines, Midway Airport's main carrier at the time, put in jeopardy the airport's entire future operations and development, nearly depriving the local economy in that part of the city of its main driving force. The big risk of pumping millions of dollars into the facility eventually paid off, elevating Midway Airport to the 49th place in the ranking of the world's airports in terms of the ratio of passenger traffic volume to airport area. The airport's expansion has attracted a flood of investors ranging from boutique merchants to hotel and restaurant chains which eagerly set up shop in nearby locations. This set off a whole chain reaction. Chicago authorities decided to expand the transportation infrastructure in the area, in part by constructing the Orange Line connecting the south with the Loop and other areas. The new elevated train reduced commute time to the city center, especially in winter. As a result, the South Side began to appeal to residents and investors who were previously stuck with the more expensive north because of where they worked and the lack of reliable transit. This reflects Chicago's historical split into a blue-collar south and a white-collar north and center. As the South Side transformed, large industrial buildings, the last visible remnants of the past era, became highly coveted by investors from various sectors of the economy. Plants and factories, only recently neglected and desolate, were soon converted into loft apartments, commercial centers and offices. Within years, the improvements drew the young generation into the south side. Accustomed to a more relaxed lifestyle, younger residents prefer loft apartments to tight condominiums and ranch- and bungalow-style houses.
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