Chicago condos will bring "The Rosenwald" into the twenty-first century. "The Rosenwald" is an historic apartment building in Chicago’s Bronzeville neighborhood on the south side of the city. It was designed and built in 1929 when Bronzeville was a famous home to African Americans, including celebrities like Nat King Cole, as well as poorer African Americans. Laws at the time required blacks to live in designated areas of the city, and Bronzeville was probably the most famous.
The neighborhood has gone downhill in recent years, however, and a gas leak in the building caused the Rosenwald to close in 2000. Now it is being saved and restored. The building’s 300 units are being converted into luxury Chicago condos. As more middle-class residents begin to move into this part of the city, the market for Chicago condos will certainly grow.
People who purchase Chicago condos in the Rosenwald will reap a variety of benefits, as the building has been on the National Register of Historics Places since 1981. A variety of possible property tax incentives and federal tax credits will help to fund the restoration of this Chicago landmark.
