chicago has a rich history of extreme segregation and institutional racism, and what tgk has said is true to an extent. that said, i think the "white people wont live in historically black neighborhoods" is more complicated. i think it more or less comes down to the residual effects of the 60s riots, as huge portions of chicago's black belt were decimated. the open scars are still evident if you drive through EGP or North Lawndale. its absolutely visceral crossing from the north side of the pink (N. Lawndale) to the southern side (Little Village)...completely night and day. the issue is those events led to extreme disinvestment, and hispanic neighborhoods more or less creating unwritten barriers between bordering black neighborhoods. you simply didnt go into North Lawndale if you were hispanic...different gangs, culture, different everything. and that was compounded by good manufacturing jobs, which used to serve the south and west sides, disappearing. places like Pilsen/Little Village, Avondale, Logan Square etc, which were heavily hispanic, fared better because if nothing else their streetscapes remained in tact, even if they became a bit run down over time. there was at least something left to restore and a sense of place. they also benefited hugely from a surge in immigration from Mexico in the 90s, which at least kept the population base fresh and dynamic. its a way bigger task to rebuild a community that has only 2 or 3 houses on a given block..no one wants to live in such a fragmented neighborhood, and the sense of safety is also greatly diminished. the reason Bronzeville has historically been so cheap is tied into this. the lack of amenities/retail, disjointed and fragmented urban fabric, crime, etc.
in regards to Bronzeville, it had been touted for a while as the next "it" area prior to the housing crash. there was also pre-olympics hype, as the village was expected to be built on the former Michael Reese site. lots of middle/upper middle class black families were buying up properties again and some signs of revitalization began to pop up. then '09 happened and you had massive foreclosure rates. some of those greystones were going for 100k or less. And then on top of it, you had the same families basically cutting their losses, saying "fuck it" and leaving chicago altogether. the increased gun violence as a result of the CHA's "transformation" played a big role, as did the opiod epidemic (west side is the primary distribution hub for the midwest). the city lost something like 200k AA's in the last census, most all from the south and west sides. this destabilized formerly pretty stable middle cass AA neighborhoods like Chatham and South Shore further.
but its obvious to anyone who can look at a map that Bronzeville eventually will be rebuilt. the thing is, you really dont need to tear down much, because thats more or less already been done. i expect more and more professional families who are priced out of buying a SFH on the north side to be looking pretty closely at the area. and theres already huge luxury developments filling in a lot of the long vacant land south of roosevelt. the city is pushing aggressively to build more SFHs in bronzeville, and offering developers cheap city owned properties for them to build on. its going to take a long long time to patch everything in, but it also has the most potential of any existing chicago neighborhood, given its location and remaining housing stock. Hyde Park has changed drastically in just the past 5 years, as has the south loop. if you drive around some of the side streets, theres increased levels of rehabs of historic homes in Bronzeville which i think is flying under the radar of most people.
for the most part, these mansions still remain, however, there is little to no market for them, people who live in bronzeville are middle and low-income and rehab/upkeep/utilities for 100+ year old mansions is cost prohibitive for many and speculators who just want to fix things up and flip them are wary of these buildings because the millionaires they want to sell them to won't live in the neighborhood, so these buildings remain empty for years.
yea it takes a certain kind of person to buy a property like this. its gonna have to be a labor of love. most people in a position to buy these sorts of homes want turn key luxury. they dont want to deal with refinishing the plaster and the original trimwork, or dealing with a wonky heating system, or a compromised foundation. theyre expensive to maintain and a lot of work. if youre dedicated to restoring the property thats awesome, because those types of people who are willing to approach one of these buildings sensitively is rare.