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Around Rogers Park: January 11 Storm Devastates Beaches at Rogers and Howard Parks

 

As anyone who read RPBG Director Tom Heineman’s excellent article in the Fall Newsletter knows, rising lake levels and the effects of climate change are having a severe impact on Chicago’s shoreline. Rogers Park is one of the neighborhoods that has borne the brunt of Lakefront erosion, given the geography of many of its parks with their small footprints and limited width between city streets and Lake Michigan waves.

 

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Around Rogers Park: Clark-Estes Apartments Now Open

 

Image courtesy of Chicago Defender

A ribbon-cutting ceremony on the afternoon of Thursday, February 6th marked the opening of the Clark-Estes Apartments, bringing to a happy ending the long saga of this troubled site. The four-story apartment property combines 54 apartment units, 3,350 square feet of ground floor commercial space and a 20-car garage – a lower parking requirement due to the property’s Transit Oriented Development (TOD) status. The new building contains a mix of 15 studios, 21 one-bedroom and 18 two-bedroom units. Although construction began in October 2018, the story of this site goes back much further.

 

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Around Rogers Park: Howard-Ashland Site Development Unveiled

 

The Alden Foundation and ArtSpace unveiled plans for a mixed-income, LGBTQ-friendly senior housing and live/work development at the long-vacant corner of Ashland Avenue and Howard Street. The site originally housed the Lerner Building which was torn down in 2007. The site was later acquired by the city under former Alderman Joe Moore in an attempt to spur development. Despite several previous attempts, the site has not been developed and remains vacant, except for community garden plots which are used during warm-weather months.

 

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Bright Lights Dimming in the Big City?

 

Everyone knows the story of the post-recession economy. As foreclosed homes piled up and personal credit was ruined, many people turned to rentals as the only alternative to home-ownership to meet their housing needs. Demand for apartments increased even further as the Millennial generation came into its own, moving out of their childhood homes and starting careers and new lives as adults.

 

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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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