I Look Back and Wonder…

BREN SHERIFF
BREN SHERIFF

I Look Back and Wonder…

The content of this column will always let you know that I am a strong proponent of homeownership, it is the primary source of wealth in most American families.  This week I’m going to provide you with some history on Black homeownership in Chicagoland.

Homeownership in America has long symbolized economic security, family legacy, and community stability. Yet the path to homeownership has not been equal for all Americans. Chicago’s history of Black homeownership reveals a story shaped by policy, economics, culture, and community resilience.  Nowhere is this story more visible than on the south and west sides of the city.  For it was here that housing patterns helped shape both opportunity and inequality across generations.

During the 20th century, discriminatory housing practices such as redlining limited where Black families could purchase homes and how much wealth they could accumulate through property appreciation. Neighborhoods were rated by lending institutions as high or low risk based largely on racial composition rather than economic stability. Civil rights organizations such as the National Association for the Advancement of Colored People (NAACP) fought these policies through legal challenges and public advocacy, yet the economic consequences of decades of exclusion have been difficult to reverse.

Chicago’s housing history provides a powerful illustration of these forces. During the Great Migration, thousands of Black families like mine moved from Southern states to northern cities seeking industrial jobs and better educational opportunities for their children.  However, when we got here, following WWII, finding housing was a major problem. Most of us “Negroes” lived in what we now call Bronzeville.  During that time, restrictive covenants and real estate steering practices put limits on where we could rent or buy.

 Although racially restrictive covenants were declared unlawful in 1948 following the Supreme Court decision in Shelley v. Kraemer, their effects continue to be felt even today. For decades those covenants shaped neighborhood patterns and influenced property values in ways that slowed wealth accumulation in predominantly Black communities across the city. Even now, Black owned properties in Black neighborhoods, when appraisals come in, their values are too often lower than comparable homes elsewhere. Yet when those same families attempt to purchase homes or obtain financing, the prices and borrowing costs have been found to be disproportionately higher. The result is a cycle that limits appreciation, reduces equity growth, and slows the ability of families to build wealth through real estate.

The Dearborn Real Estate Board (DREB), the first Black trade association of real estate professionals in the nation, was organized in 1941 to combat the many unfair real estate practices and to promote ownership of real estate by Blacks.  They formed DREB because the Chicago Real Estate Board would not accept them as members because they were Black. My good friends and associates who continue in the fight at DREB are Frank Williams, Dean Reid, Dianne Simmons, Walter Simmons, Joy Gibson, Barbara Clayton, Sarah Ware, Ron Branch, and Phyllis Logan.  These folks are still holding the line in their commitment to increase Black ownership of real estate and the fairness of appreciating values in Black communities.

We owe it to these real estate warriors to support their efforts by using their services as “Realtist” when buying or selling real estate.  We will be celebrating them on March 26, 2026 when they install their new officers and board members.

I’m sharing this information with you to let you know that there is a Black organization that has endured for nearly a century.  We as Blacks MUST learn about and continue to support those individuals and organizations that have been our bridges, facilitating our people “getting over”. 

It reminds me of the words in one of my favorite spirituals, “I look back and wonder, how I got over?”  Well, look no further, if you are a property owner in Chicagoland, you now know it was DREB that helped to pave your way to ownership. Now it is our turn to show our appreciation by seeking and using their services for all of our real estate transactions.

The best to you and yours,

Bren Sheriff, CSA

THIS WEEK’S QUIZ: How long is a bank or credit union permitted to hold your deposit before allowing you access to your funds?

Answer to last week’s quiz: The least thought of areas to be protected in an estate plan are your cyber controlled properties.  In plain talk, your passwords.  Make sure you provide access to your cyber accounts by sharing your passwords and account IDs.

For Questions or Help: 773-817-0601 or basheriff1@gmail.com

Disclaimer: The illustrations presented in this column are not, nor are they intended to be, legal, financial, or any other licensed professional advice, you should contact the licensed professional of your choice for advice on your individual situation.


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