Chicago Property Management Blog

Do you happen to own stocks that you are thinking about selling? Do you also own a commercial property? If so, now is the time to consider cost segregation. Using cost segregation on your commercial property will lower your taxable income. This will make your capital gain less when you sell stock and potentially lower your capital gain tax rate. Key PointsCapital gain is any profit you have from selling an assetCapital gain tax ra...

So how do you build that successful team? Gary Davidson, is not only a rock star attorney, but he is the definition of a go-giver. In today’s episode you will learn how asking the question “how can I add value to person X?” can solidify your network and propel you on your journey. Key points:Providing value as a new investorTop mistakes of Chicago investorsWhat to ask when hiring a real estate attorney As a proper...

Roman Viere manages and operates over 900 apartment units, and the majority of these units are located in the Austin neighborhood. Austin is geographically Chicago’s largest neighborhood and offers everything from a 9-hole golf course to struggling store fronts. It takes a hands-on approach to analyze, screen, and operate in a neighborhood like Austin, and Roman provides tactical insights and street-level knowledge useful to anyon...

Like many Real Estate professionals, Jonathan Klemm transitioned away from a career with a W-2; what is remarkable about him is his background working with Walsh Construction, which is one of Chicago’s largest construction and contracting companies. Jonathan has taken everything he learned about managing large scale projects and applied it to smaller, investor focused projects.Key points:What to ask potential contractorsInvestor f...

With the Lake, a world-class University, and a plethora of transportation, Evanston is an extremely attractive and diverse marketplace for many investors. Jaimie Steinher of Essex Realty exclusively covers Evanston, and provides on the ground insights to help you navigate the different pockets of the city. Jamie lays out cap rates, average rents, and tenant expectations in an episode packed with tangible takeaways.Key points:Overview of...

For many Chicagoans, the front porch of a home has been the focal point of countless memorable times. Since COVID, the importance of “outdoor spaces” in real estate has re-emerged as a priority for plenty of homebuyers, too. But how many investors know how to evaluate the build quality of a property with a porch? Now only that, but what is the process like when wanting to add a back porch to an existing property? How do you ...

As most of you know by now, in February Cook County passed the new RTLO.  Then in June 2021 the ordinance officially went into effect in all areas of Cook County, excluding Chicago, Oak Park, Mt Prospect, & Evanston.  While many have been scrambling to remain in compliance, creating new bank accounts for security deposits, we have been 1) in the same boat and 2) working on a new lease for our residents in Cook Country.&nbs...

Ryan Smith is not an optimist, but a realist. With a stark numbers-based opinion, Ryan provides his thoughts on Chicago’s housing market, the strength and the validity of the recent appreciation in the area, and how long it may take to cycle through upcoming foreclosure inventory. Key points:Is outside capital coming into Chicago?Are Chicagoans underwater?Foreclosure inventory statusBuying opportunitiesNow vs. 2008 recessionA...

One of the most important team members that real estate investors rely on is their attorney. Not all closings are created equal and Gina Diaz explains some of the closing nuances both through the eyes of an attorney and as an investor. Gina provides great insight into how to successfully close on a short sale, what to be aware of in a double closing, and how to work with a title company and attorney to successfully wholesale a deal.Key ...

Possibly the biggest consideration when taking on a rehab project is how to finance the deal. We’ve all considered hard money, FHA has their 203K loan program, and we’ve probably seen a late night commercial or two about financing. Perry Farella of Prime Lending talks us through a loan program which is a cross between a conventional loan and hard money, something that you don’t even need to refinance out of once the pr...