09/24/2026
Chicago has a housing crisis. Everybody knows it, so why is it so hard to solve?
Yesterday, Vertical attended Crain’s Chicago Business’ Elevate event, where that question drove the conversation and left us thinking differently about what it will take to answer it.
The panel included Matt Gambs, Chief Impact Officer of Wintrust; Daniel Kay Hertz, Director of Housing of Impact for Equity; Sharon Legenza, Executive Director of Housing Action Illinois; and Horacio Méndez, President and CEO of Woodstock Institute. Crain’s own real estate expert dennis rodkin moderated.
They outlined the challenges facing affordable housing and addressed various solutions. We came away with a new perspective. Chicago can overcome the barriers. What’s missing is the political will at all levels of government.
While affordable housing is a complex topic, we were reminded that Chicago is a city that makes things happen. It’s in our DNA. From building the world’s first skyscraper, to reversing the flow of the Chicago River, to building the world’s busiest airport, we have a history of getting it done.
For affordable housing, the steps include persuasively arguing the benefits of diverse housing stock, reducing regulatory hurdles for multifamily development, and committing to enduring plans that survive changes in political leadership.
Chicago has a long road ahead, but it’s about time we dedicated our will to moving forward. We have the talent. We have great plans. We need the entire city’s commitment to get it done.