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Logan Square Residents Protest Rising Rents

CHICAGO (CBS) -- About 200 residents of the Logan Square neighborhood on Chicago's North Side staged a protest march and rally to call attention to sharply increasing rents.

Many of the protesters live in some of the roughly 80 buildings in Logan Square owned by Mark Fishman, of M. Fishman and company.

Beth Berringer says her rent is being raised by $360, and no longer will include heat, water or garbage, and she has until May first to pay or move.

"I'm a full-time student, I'm only working part time and it's definitely a hardship," she said. "Everyone in the building I've met can't afford it or has to move."


Scott says people are being priced out of their once-affordable apartments.

"Gentrification's a double-edged sword, you know, on one hand it tends to reduce crime, maybe, and you get a few amenities in the neighborhood, but then it becomes hard to actually get to live there," he said.

Activist Bhaskar Manda says developers are shifting the demographics of the neighborhood.

"It has been affordable, it has been diverse and it has given a lot of people opportunities that they need in life," he said.

A woman who identified herself as Cat said in her 80-unit building, bought by M. Fishman and Company last December, tenants got notices that rents are going up between $300 and $600.

"This is an enormous increase that none of us can afford," Cat said.

She said they're facing having to move in 30 days with no place to or they're facing eviction.

M. Fishman and Company has said it sets aside about 25-percent of its units as affordable housing, well above the 10-percent required by the city.

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