Chicago Property Management Blog

In February each year, the Cook County Treasurer releases new tax rates to the public, which are then used to determine the tax bill. Often the numbers are a mystery, but property owners should know what these numbers mean and how the money is being used. Regardless of the property value, it’s the tax rate set by the county that impacts the tax bill’s bottom line. The tax rate is set based on the amount of money the lo...

I wanted to take a moment to provide an update as to the current status of the Rental Eviction Moratorium, here in Chicago, and the surrounding suburbs. As of the day of this posting, this is the most up to date information that is currently available. On today’s show we discussed these hot topics for Landlords and Tenants in and around Chicago and Cook County. Illinois Moratorium - Governor Pritzker has extended the mandated...

What is the goal of the Housing Choice Voucher?The goal of the Housing Choice Voucher (HCV) program is to provide “decent, safe, and sanitary” housing at an affordable cost for low-income families. The Housing Quality Standards, or HQS, help local Public Housing Authorities accomplish that goal by defining “standard housing” and establishing the minimum quality standards necessary for the health and safety of pro...

I have always personally viewed Rent Control as being something that is a major issue for both Realtors and investors. I was proven wrong in the Spring of 2019 when I met with Gideon Blustein, Director of Member Outreach for IAR (Illinois Association of Realtors). Gideon and I spent an ample amount of time discussing the Rent Control bill that was on the table down in Springfield. What does this mean for investors/landlords?This b...

The cost of housing in Chicago is higher than in some other cities in America, which makes it difficult for low-income individuals, and families alike, to afford rent. Whether you are a property owner in Chicago or someone looking for a place to live, chances are you’ve heard of Section 8, also known as Housing Choice Vouchers (HCV). As a real estate investor in Chicago, we know you have questions about how the Section 8 hous...

As a Landlord, I can find myself losing sleep at night when one of my tenants has gone “bad”. By going “bad”, I mean that they have stopped paying their rent, stopped communicating with me, and are no longer flexible to any type of a win/win scenario. A tenant can go bad for a number of reasons that can be either within or outside of our control. We have a multitude of experience dealing with “bad” te...

I wanted to update everyone on where things are at with Rental Eviction Moratorium here in Chicago and the surrounding suburbs here in Illinois.  As of the date posted this is the most up to date information available.  Illinois Moratorium - Governor Pritzker has the statewide moratorium that will run through October 19, 2020.City Of Chicago - The City Of Chicago has a citywide moratorium that will extend 60 days past the...

What is the BRRRR strategy when investing in real estate?  This is actually an acronym that breaks down the steps of a specific real estate investing strategy.   This investment model is a popular way for people to invest in properties where they can add value and keep as little of their own money in a deal as possible. The main goal is to have the least amount of personal capital in a deal after the refinance step.  This...

What does it mean to be a BRRRR investor? First, lets answer the question: ”what is BRRRR?”  This is actually an acronym that breaks down the steps of a specific real estate investment strategy. The aforementioned investment model has become a very popular way for people to invest in properties. Value can be added to the property and the owner can spend minimal amounts of their own funds. B-BuyR-RehabR-RentR-Refina...

GC Realty & Development, LLC manages investment properties for a total of 360 owners. Within that total, close to 300 of our owners are now located out of state or out of the country.  Not all of our owners are true real estate investors, some were living in their home here, moved away, and turned their property into a solid investment.  Owners who live elsewhere in the country, or the world, will find this article especia...