An Interview with Cook County Assessor Fritz Kaegi

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An Interview with Cook County Assessor Fritz Kaegi

Fritz Kaegi is a man on a mission, and his “to-do” list is long. He will need time and resources to get everything done, and both are in short supply. But, if my one-hour interview with Mr. Kaegi is any indication, Mr. Kaegi is not put off by the challenge. If anything, he strikes me as being very much up to the task.

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Report from Eastlake Terrace: Rising Lake Levels Threaten Lakefront – Part 1

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By Tom Heineman, Treasurer, RPBG
 

Source: Chicago Tribune

This is not the first time the Eastlake Terrace beaches, parks and buildings have been impacted by high lake levels. In 1986, lake levels were at a 100 year high with serious damage to both private and public properties. As of July of this year, the average Lake Michigan-Huron water levels were within a few inches of that 100 year high. This is just after a 100 year low in 2013. Apparently, global climate change and its related extreme weather patterns is impacting our lives in a very direct fashion.

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As I See It: What’s Behind the Just Housing Ordinance?

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Mike Glasser, RPBG President
Fall, 2019

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Rogers Park Market Update

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By Doug Imber, President, Essex Realty Group
 

The continuous barrage of political and economic news can seem overwhelming at times. This information shapes the aggressiveness or conservativeness of our buying and selling attitudes. Despite the affect this news assault has on our moods, how much does it really influence the Rogers Park market? Does trade policy with China impact gross rent multiples on Touhy Avenue? Do impeachment proceedings in Washington alter price-per-units on Eastlake Terrace? And how much do the fears of rent control, housing plus and property tax reassessments change the capitalization rates on Estes Avenue?

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DOH Announces New ARO Task Force

Fall, 2019

Source: KIG Analytics

The constant torrent of local and national news is distracting. It is also probably the reason you may not have heard about the newly formed Affordable Requirements Ordinance (ARO) Task Force. This announcement was made on October 14th by the Chicago Department of Housing (DOH) under the auspices of newly elected Mayor Lori Lightfoot. The Task Force will be charged with revamping the current ARO which was first adopted in 2003 and was most recently changed in 2015.

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California Adopts Statewide Rent Control Restrictions

Fall, 2019

Source: Patreon; AirBNB v Rent Control

California recently joined Oregon as the second state in the nation to adopt statewide rent control legislation. The California measure passed on September 11 and was signed into law by Governor Gavin Newsom on October 8. The law limits annual rent increases to five percent and offers additional protections to tenants facing evictions. Oregon passed its rent control legislation – the first such statewide law in the nation – in February of this year.

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Ibrahim Shihadeh Interview

Everyone has a story to tell. But, let’s be honest, some stories are more interesting than others.

I recently had the great pleasure of sitting down with Ibrahim Shihadeh, a prominent property owner who has long been active in Rogers Park, and who is now a Director at RPBG. Ibrahim was born in 1948 in a small village in Palestine, not far from Jerusalem. The story of his journey to America is extraordinary. Even more extraordinary is what he did with the opportunities he found in his adopted country. For someone with a fascination (some would say fixation) on immigration, I can think of no better example of the benefits of immigration than by simply telling Ibrahim’s story. While it is true that he is a man of extraordinary drive and ability, it is also true that Ibrahim’s accomplishments in this country would have been much harder to replicate in his native land given the difficult circumstances of that part of the world, both then and now. In many ways, Ibrahim is the personification of the American Dream and is an inspiration to us all.

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Ups and Downs - Fall 2019

By:

Steve Cain
Fall 2019
 

We are staring down the end of one year and the beginning of another – and not just any year. Twenty-twenty promises to be like no other, with an election looming that will be as momentous as any in recent memory.

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Around Rogers Park: New Construction Apartments Filling Up

Fall, 2019

Thirteen-23 West Morse is a Tawani Enterprises that replaces a former strip center at the southeast corner of Morse and Wayne. A spokeswoman for the company reports that the building is complete and currently 96% leased. Achieved rents are in line with projections.

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Around Rogers Park: Loyola’s New “Francis Hall” Nearing Completion

Fall, 2019

While not technically in Rogers Park, Francis Hall is close enough to merit an honorable mention. The structure of the new, eight-story residence hall is up and, according to RPBG’s Jennifer Clark, will be completed and ready for occupancy by August 2020. The building is located on the 6300 block of North Winthrop, just south of Sheridan Road. Francis Hall is just the latest example of the dramatic changes that the Loyola Campus has experienced since the dawning of the new century.

Expansion of Loyola south of Devon Avenue took a major step forward in 2013 when the 6300 block of Kenmore was closed to traffic and turned into a pedestrian mall. There is talk of closing the 6300 block of North Winthrop as Loyola’s footprint south of Devon continues to expand. The University continues to look for development opportunities south of Devon Avenue and west of Sheridan Road as the land-locked University seeks to expand beyond the confines of the original campus. Francis Hall is just the latest development to occur south of Sheridan Road. It will certainly not be the last.