Bring Chicago Home Advocates gather in front of the Illinois Appellate Court in March 2024. [Michael McDevitt/The Daily Line]

Following the defeat of the Bring Chicago Home referendum, which would have allowed the City Council to retool the real estate transfer tax structure, the City Council Progressive Caucus said they understood and heard the message voters sent through their votes and will commit to improving trust in city government.

The ballot question, which would have raised the transfer tax on property sales above $1 million and decreased it on sales lower than $1 million, was defeated last week with 52 percent voting against the proposal.