Chicago Property Management Blog

If you have been following GC Realty & Development, LLC or the Straight Up Chicago Investor Podcast, you are aware of the impact the proposed Residential Tenant Landlord Ordinance (RTLO) in Cook County will have on current and future Cook County Landlords.  Below is the Call To Action recently released by our friend Mike Glasser at the NBOA.  Your help can make a difference.Implications of RLTOAs presently written, this or...

Mobility Areas and Community AreasThe Chicago Housing Authority (CHA) is currently seeking to expand its program outside areas of poverty of minority concentration called Mobility Areas. These areas are defined as Community Areas where less than 20% of its families have income below poverty level and there is a below median reported violent crime count (normalized by the area’s total population). Some areas with improving poverty ...

How was the Chicago Housing Authority born?The CHA first introduced the voucher mobility program in the 1990s, following the completion of the original Gautreaux Assisted Housing Program, which was administered by a private fair housing agency, and since then has become one of the best tools for supporting low income families that have a desire to move in a chance to improve their life opportunities. Gautreaux et al. v. Chicago Hou...

As a Property Management Firm and also real estate investors ourselves, we are keeping a close eye on the proposed Cook County RLTO ordinance that would apply to all portions of Cook County. The only exemptions to this new ordinance at this point would be Chicago, Evanston, and Oak Park because they already have a similar ordinance in place.  This means if you are a landlord in Barrington, Schaumburg, Berwyn, Tinley Park, Lansing ...

Whether you are a brand new Landlord seeking tenants to occupy your very first investment property, or an experienced investor with an extensive portfolio to rent out, chances are you’ve considered renting to Section 8 tenants. The benefits of renting to Section 8 tenants can range from government-subsidized income to free advertising, making it an opportunity that is hard to pass on.  Section 8 is a government program that ...

For those of you that desire to become a real estate investor here in Chicago I wanted to share with you the reasons why there is no better time than now. On today’s show we discussed the reasons why it now makes sense to invest in real estate, along with supporting evidence from the other show’s co-hosts.   Today, we will dive into each of the 3 reasons and leave you with next steps on who to contact to start this jou...

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...