Report: Disparities in Chicago Condominium Stock in Low-Income Neighborhoods

Upon seeing condominium associations struggle to fund necessary repairs in its own neighborhood, Northside Community Federal Credit Union, with a grant from the Chicago Community Trust, commissioned the Institute for Housing Studies at DePaul University to examine the diversity of condominium stock in Chicago, specifically the risk of financial distress for homeowners associations (HOAs). The study found a disproportionate amount of HOAs in lower-income neighborhoods at increased risk of foreclosure and other economic stress.