David Herrera: Building Wealth, Community, and Legacy in Chicago

The Chicagoan

David Herrera embodies the spirit of Chicago, a city known for its grit, resilience, and ambition. Born and raised in West Town, David’s connection to his community runs deep, with roots that stretch back to the 1950s when his family first settled in the area. His story is one of perseverance, a commitment to bettering both himself and the neighborhood he calls home.

Growing up in what was once a tough, working-class neighborhood, David witnessed firsthand the transformation of West Town from a struggling community to one of Chicago's most sought-after neighborhoods. “We stuck it out through the tough times in the eighties and early nineties before the neighborhood started gentrifying,” David recalls. This personal history informs his passion for real estate development, a field in which he has made significant strides over the past several years.

David’s academic journey took him through Loyola University, where he studied economics and finance—subjects that piqued his interest in the mechanisms of wealth creation. “Studying economics and finance and working for Wall Street firms, you really start to understand how money's created, wealth is created,” he explains. This knowledge, combined with a deep understanding of his local community, laid the groundwork for his foray into real estate development.

His first major project, a four-flat in Ukrainian Village, was a resounding success. “I ended up more than doubling the capital on my first deal,” David shares, his voice reflecting both pride and the satisfaction of seeing his hard work pay off. This project was not just about financial gain; it was about creating value and reinvesting in the community that shaped him.

David’s journey wasn’t without challenges. The volatility of the corporate world, particularly during the financial downturn of 2008, led him to reconsider his career path. “I didn’t see too much loyalty in the corporate space for a guy like myself,” he admits. This realization pushed him to leave the corporate world behind in 2016 and pursue his passion for real estate full-time. His ability to pivot and adapt to new circumstances is a testament to his resilience—a quality that has served him well both in business and in life.

Beyond real estate, David’s commitment to his community led him to run for alderman in his neighborhood. It wasn’t an easy decision, nor was it a cheap endeavor, but it was a move motivated by a desire to protect the interests of his fellow residents. “I’m from here, right? I want to make money here too, right? I want a piece of the action because I’m from here,” David says, expressing his frustration with the obstacles he faced from established politicians. His bid for alderman was a bold statement: he wasn’t willing to stand by while outsiders dictated the future of his community.

Though his run for office didn’t result in a victory, David has no regrets. The experience only deepened his commitment to his neighborhood and reinforced his belief in the importance of community-driven development. “My loyalty is to the community where I grew up,” he emphasizes, a sentiment that resonates deeply with anyone who has ever felt a strong connection to their roots.

David’s story is a powerful reminder that success isn’t just about financial gain; it’s about making a lasting impact on the community around you. Whether through real estate development, political activism, or simply being a good neighbor, David Herrera exemplifies what it means to give back to the place that gave you so much.

As he continues to invest in both his neighborhood and his own personal growth, David remains focused on the future. His plans include expanding his investments beyond Chicago, with ventures in Mexico and other regions. But no matter where his business takes him, Chicago will always be home—a place where he’s not just building wealth, but also a legacy.