Chicago Property Management Blog

In order to provide an incentive for property owners to utilize the CHA voucher program in “Mobility Areas,” the Chicago Housing Authority has implemented a series of benefits or incentives for property owners who are looking to participate in the Program.The primary objective of this program is to make it easier for voucher holders to move into neighborhoods with low levels of poverty and less violent crime, and where renta...

Luminita Ispas has been a determined and successful investor, broker, and coach in Chicago for two decades. As someone who lost it all and gained it all back, she has some pointers to share with our community. Podcast key points:How important is it to be an agent if you’re an investorFinancial education for investorsEarly mistakes to avoid as a first time investorWest Side neighborhoods to pay attention toLand vs. Rehab proje...

ROSELLE, March 16, 2021 – Inc. magazine has revealed that GC Realty & Development LLC., is No. 173 on its 2021 Inc. 5000 Regionals: Midwest list. This list is the most prestigious ranking of the fastest-growing private companies in Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin. Born of the annual Inc. 5000 franchise, where the company ranked 2,861...

With more than 50,000 real estate brokers in Illinois and over 1.4 million across the county, it’s hard to believe that very few of these brokers can and are willing to work with real estate investors. A specialist that can assist an investor in growing their real estate portfolio is much different than an agent who practices common real estate.To be an investment-minded real estate broker, you must first possess specific kno...

You’re probably not surprised to hear that Section 8 tenants carry a wide variety of stereotypes, but it’s important to remember that while any group has its bad apples, stereotypes are not broadly applicable. Many fear what they don’t understand. That’s exactly why we put together this round table discussion with two other great CHA section 8 property managers. On the new episode of the Straight Up Chi...

In December 2020, the long awaited ADU Ordinance finally passed, but only as a 3 year program and only in a select few areas of the city.  The ordinance allows property owners to add one or more dwelling units to their houses and vacant lots without needing a zoning change.  The ordinance focuses on these new units being “affordable”, which is intended to provide a new source of affordable housing.Rogers Park Build...

When I first got into this business back in 2003, a house flipper would enter into a contract on the sale and money would be deposited in the bank 30 days later. Today, unfortunately, this is no longer the case. Speaking with a friend of mine who was interested in conducting their first house flip, I realized there is a lot to know about this topic, that anyone going into their first flip needs to know. This is easily one of the to...

In January 2021, the Cook County Commissioners passed the new Residential Tenant Landlord Ordinance, also known as the new RTLO.  The RTLO will go into effect on June 1, 2021 and will bring many changes to owners in the 125 cities in Cook County. The ordinance will exclude Chicago, Oak Park, Evanston, and Mt. Prospect as they already have their own version of a rental ordinance.  One of the largest changes for Landlords that w...

Each year, GC Realty & Development LLC meets with well over 200 homeowners/investors in the Chicagoland area with respect to their investment property, or the need for professional property management services.  Because so many real estate owners know our thoughts and feelings (from this website) on all things “Property Management,” they often ask us about other local property managers (our competitors). As a c...

On January 28, 2021, the Cook County Commissioners passed the Residential Tenant Landlord Ordinance (RTLO) that covers all of Cook County. The ordinance does exclude Chicago which is governed under the Chicago Residential Landlord Tenant Ordinance(CRLTO).  Oak Park, Evanston, and Mt Prospect are also excluded because they already have their own rental ordinances in place.  That leaves 125 other Cook County cities remaining tha...