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Understanding Recycling and Trash Service in Chicago


I have been a member of RPBG since my good friend, Marty Max, talked me into coming to my first meeting at Devon Bank. Before the meeting, I didn’t know what to expect. Afterwards, I was already hooked.

 

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As I See It: Honoring a New Year’s Resolution

 

 

I offer to you, my fellow property owners, an important New Year’s message: even if you don’t accept security deposits, you MUST still post on your leases the interest rate schedule for 2020.

Yes! Even if you don’t accept security deposits, you must post on all of your residential leases the City mandated interest rate schedule for security deposits so that tenants know what interest rate they would be receiving on their deposit if they had a deposit, even though they don’t have one!

 

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Ups and Downs - Winter 2020


I heard a fun fact about February 2, 2020. If you turn it into a number with no dashes in-between, it becomes a palindrome. It’s also the first time in more than 900 years that a date could be manipulated in this way!

 

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Verella’s Round-Up: Employee and Caretaker Leases

verella osborne

Do you provide an apartment for your building manager or janitor as part of his/her employment? Or, in this aging population, do you rent to an elderly or disabled tenant who has a live-in caretaker? While the first scenario is common to mostly larger management companies, the second is becoming commonplace for all landlords. What happens when the employee quits or you fire him? What happens if your elderly tenant dies and leaves the caretaker in the unit? To protect yourself in both situations, you need a custom lease for each of these types of occupants.

 

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17th Annual Trends Workshop Event

 

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Continuing our long tradition, RPBG presented the 17th Annual Trends Workshops in January. It seems that every time we do the Trends Workshop, it attracts more people and grows in popularity. This year was literally the biggest and the best. Almost 150 people registered to attend, so many, in fact, that we had to cut off pre-registration.

Sheryl Rosenberg went out of her way, preparing an excellent brochure explaining the what’s, why’s and how’s of the event as well as a list of event sponsors. We had a long list of sponsors this year. We are truly grateful for their support without which this event would not be possible. Here is the list:

 

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17th Annual Trends Workshop

 

Over 130 real estate and community members gathered at the McCormick Lounge at Loyola University Chicago on Tuesday, January 28th, 2020 for the Rogers Park Builders Group's 17th Annual Trends in the Industry Workshop. Groups of 8-9 attendees gathered around seventeen separate tables, each table lead by a table moderator, as each group answered the same seven questions: projecting stock market, Illinois unemployment rates, bank rates for multifamily, sales times for Rogers Park condos, and building valuations. Following the group work, Albany Bank's Pat Mulcahey lead a panel discussion reviewing each question. Prior to the group work, we met Gale Academy Principal Francisco Leal, who thanked the RPBG for buying team uniforms for his school's Middle School boys, and we saw a short video of the teams outstanding performance in the Sullivan MLK Tournament. We ended the evening congratulating Essex Realty's Clayton Maxfield for moderating the table with the most accurate results from the 2018 Trends!

 

 

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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


 

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?

 

On January 1, 2020, two new protected classes will be added to the 15 that already exist under Cook County Human Rights laws:

  • Ex-offenders with criminal convictions that occurred more than three years in the past (excluding registered sex offenders or child sex offenders subject to residency restrictions) may not be denied housing
  • Ex-offenders with criminal convictions within the past three years may still not be denied housing until the housing provider conducts an “individualized assessment”

 

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Rogers Park Market Update

 

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


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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