Chicago Property Management Blog

During the pandemic years, evictions across the country saw a significant drop due to moratoriums during COVID-19. Chicago was no different, but in the last two years, things have started to change. As the pandemic cleared and moratoriums were lifted, evictions have steadily increased in Cook County.The Cook County Sheriff released a 2023 eviction report that totaled 11,988 eviction orders in the county for the year. This was the h...

Beginning in 2025, Illinois landlords and property managers will have a new set of rules to follow when screening tenant applications. The 2025 state law makes landlords use credit reports from tenants instead of pulling credit reports through their usual processes. That means tenants can provide their own credit reports when the Tenant Credit Report Law goes into effect in January 2025. As part of this new law, landlords and property ...

The opportunity for rental assistance has returned in Illinois, offering much-needed relief for tenants facing eviction. If you're a housing provider or a renter dealing with delinquency, it's essential to stay updated on this assistance and the processes involved. Below is a detailed breakdown of what you need to know, along with some helpful strategies for managing rent while awaiting rental aid.Rental Assistance Program Overv...

Finding the perfect rental property can be challenging, especially in a bustling city like Chicago. While many investors rely on traditional listings, off-market investment properties offer a hidden gem that can significantly enhance your real estate portfolio.In this guide, we'll explore how to find these exclusive opportunities, why they matter, and how GC Realty & Development can assist you in making the best decisions f...

Over the past few months, we’ve covered some crucial topics for landlords and investors in the Chicago area. From navigating eviction laws and avoiding rental scams to understanding new regulations, these blogs are packed with insights that can help you stay ahead of the challenges and opportunities in the market. Explore each one below to strengthen your knowledge and protect your investments.Everything You Don’t Know about...

Transitioning from one career to another can be daunting, especially when you’ve spent years in a highly specialized field like professional baseball. But for Shea Murray, former baseball player turned real estate professional, the move from the dugout to property deals was a calculated and purposeful journey. In this podcast, Shea reflects on his path, discussing how his athletic career laid the foundation for success in real est...

Real estate investors may be a little skittish about property taxes in Chicago and Cook County, and I can understand why. The media covers the administration's dysfunction. News stories talk about pension funds being upside down and getting worse. Many say taxpayers will pay the price for the city's financial mistakes over the last six decades. They say that as commercial property vacancies stack up and the prices for comme...

listen to what he shares….What Is Value-Add Real Estate Investing?At its core, value-add investing involves purchasing a property that isn’t currently at its full potential—whether it needs renovations, improvements, or simply a strategic overhaul—and increasing its value through upgrades or better management. You might do this during a BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat), a flip, or by sim...

In a recent podcast, we sat down with Luke Blahnik, a real estate expert, to dive into a major ordinance that will affect property owners in Chicago. The Northwest Side Housing Preservation Ordinance, which went into effect on October 9, seeks to preserve and expand the availability of affordable housing.This newly expanded anti-gentrification ordinance has significant implications for rental property owners, particularly those in areas...

If you own Chicago investment property (and in many other parts of the nation), squatters have become a serious problem. There are many different flavors of squatters. Most often, we deal with people who just move on into vacant properties without consulting anyone. It gets a little trickier with another flavor of squatter who claims they thought they had a valid lease but have been scammed by someone else. We sat down with George McCle...