This article explores three utopian visions which have shaped past and present experiences within Buenos Aires shantytowns: those of upgraded shantytowns, of universal housing, and of a city where shantytowns have been eliminated. The article argues that these visions are collective conceptions that entail a socio‐political critique which is translated into space and which points to an ideal future. The visions proposed emerge from the examination of historical evidence and are a key conceptual tool for understanding previous and current discussions of shantytowns in Latin America.