Chicago Property Management Blog

Managing a rental property in Chicago requires a clear understanding of what qualifies as a lease violation and how landlords are allowed to respond under the law. When a tenant signs a lease, they enter into a binding contract that outlines responsibilities, rules, and expectations for both parties. When those obligations are not met, violations can arise that put the tenancy and the property at risk.For landlords renting property in C...

2024 vs 2025 Chicagoland Lease Renewals and Increases..what we can expect for 2026 Recently we published several articles breaking down GC Realty & Development's 2025 lease renewal performance, looking at retention rates, rent increases, and the city versus suburb dynamics. Those pieces generated solid feedback from Chicago investors and got me thinking how did these numbers compare to 2024 and are there any trends we can spot.S...

Every Chicago investor has had this debate. City or suburbs? More cash flow in the city, more stability in the suburbs. Better tenants out west, down south, more demand downtown. Everyone’s got a theory.We’ve got 1,019 lease expirations from 2025. So instead of debating, let’s look at what actually happened.The Retention NumbersChicago (City): 71.9% renewal rate (297 renewed out of 413 leases)Suburbs: 70.7% renewal rat...

In July 2020, the City of Chicago approved the Fair Notice Ordinance, which significantly changed the notice requirements for landlords looking to non-renew a lease, terminate a tenancy, or raise rent. Then in June 2021, Cook County rolled out its own Residential Tenant Landlord Ordinance (RTLO) that brought similar protections to suburban Cook County. If you own rental property anywhere in the Chicagoland market, understanding these no...

It’s one of the most common debates among Chicago real estate investors: which property type gives you the most stable tenants? Everyone has an opinion. We have the data.In 2025, we tracked 1,019 lease expirations across single-family homes, condos and townhouses, and multi-family buildings throughout the Chicago metro area. When we broke the renewal rates down by property type, the results told a clear story, and a few surprises....

If you own rental property in Chicagoland or Cook County, you should be aware of several laws that can cause you expensive headaches. At GC Realty & Development, LLC, we stay up to date with ever-changing legislation that affects how landlords operate. Below are just a few of the landmines we see unaware landlords walk into that can cost you BIG TIME.Get insider insights every Chicago landlord should know before making costly mistak...

There's a question I hear constantly from Chicago-area investors: Should I buy in the city or the suburbs? People have strong opinions on both sides, usually based on gut feel, personal experience, or what their buddy told them at a meetup. Personally, I can probably argue either side. And I’ve been investing and managing properties in both Chicago proper and all the suburbs for 23 years. But at GC Realty & Development, LL...

Every property manager has those turnovers that just click. The tenant gives notice, you list the unit, and before you've even scheduled a second showing, you've got a signed lease and someone moving in. It feels like luck when it happens.But relying on luck is not a good business plan. After 23 years in property management, our success has been anything but luck. We analyzed GC Realty & Development 2025 leasing data and fou...

When most investors think about vacancy, they focus on one number: how many days did it take to find a tenant? But after 23 years managing over 1,400 units across the Chicago metro area, I can tell you that's only half the story. True vacancy isn't just the time it takes to find a qualified applicant.; It also includes those critical days between when the tenant signs the lease and when they actually move in. During that ga...

Every landlord knows the drill. You find a qualified tenant, they pass screening, you're ready to sign, and then they hit you with it: "We need a first-of-the-month move-in."It sounds reasonable. Leases traditionally start on the 1st. It's cleaner for accounting. The tenant's current lease probably ends on the last day of the month. Everyone does it this way, right?Here's the problem: that accommodation is cost...