Chicago Property Management Blog

Recently, I was able to participate in a recorded call with Sean Morrissey, the owner of Chicagoland Realty Group located in the western suburbs of Chicago.  Sean is an investor and property manager, as well as a great real estate investment broker.  Since we both felt our conversation provided some great insight, we turned it into a podcast episode for his “Landlording For Life Real Estate Podcast”.  Working ...

As a local property manager here in the midwest, and more specifically the Chicagoland area, we have been part of (or witnessed) thousands of investors buying in our local Chicago market while residing out of state.  Investors from around the United States, and the world, find the midwest attractive because one can still purchase an investment property and exceed the 1% rule.These 7 pitfalls can be avoided or negotiated before clos...

In recent years, GC Realty & Development, LLC found a niche in working with out-of-state investors looking to purchase 1-4 unit investment properties in Chicago and the surrounding suburbs. Our niche has been supplemented by the opportunity to work with Roofstock, Inc. over the past 12 months.  Roofstock, Inc. is an online, single family home and small multi-unit marketplace for real estate investors allowing buyers from around...

What is this amendment & why was it passed? The Just Housing Amendment was passed on April 25, 2019 and amends the Human Rights Ordinance by providing protections for leasing applicants with a criminal record that apply for residential rentals.  The Amendment went into effect on January 1, 2020, and Cook County will start enforcement of the Amendment on February 1, 2020.Advocates of this ordinance said this ordinance aims ...

We know many of you have, or will have, buildings with Section 8 tenants. We thought it would be helpful if we shared the room requirements (for both bedrooms and rooms in general) for a home/unit occupied by a Section 8 tenant.  There is a lot more required to be approved, however, these are some requirements that you need to consider when looking for or rehabbing properties.  Please click on the link at the bottom of this em...

Although he now runs one of the most successful Property Management companies in Chicago, initially, Mark Ainley had no interest in that side of the real estate business....continue reading Click Here to download.GC Realty & Development currently has two offices, one serving the Western Suburbs of Chicago and the other serving Chicago's South Side.Although he now runs one of the most successful Property Management companies in C...

Mark Ainley was recently featured on this Bigger Pockets podcast with the founder of BiggerPockets.com Josh Dorkin and Brandon Turner. Mark was very excited to be a part of the show. He has been a long time listener of the Bigger Pockets podcast and is also a contributor to their blog. Mark gets to dive in deep to a variety of issues check it out.According to the website, “Mark Ainley brings a fresh perspective on how to successfu...

We have worked with Josh Elledge and his company, Up My Influence, for many years. The Thoughtful Entrepreneur Podcast is an informational source for business-minded people (some with very little experience and others with years of experience), so when I got the invite to appear with Josh, I was extremely excited.In this episode, we discuss who GC Realty & Development, LLC is and where we started from in the early 2000s. The show al...

As investors ourselves in many markets and class types, our primary goal is to attract and retain the best tenant possible for our properties.The “Best Tenant” can be defined by qualifications on their application, potential willingness to stay for a longer term, and/or ability to be a satisfied resident when we, as the landlord, successfully perform the duties as required by the lease agreement. (We try to avoid high mainte...

Why an Out of State Investor Should Hire an Attorney When Buying Investment Property in Chicago/IllinoisThe purchase or sale of real estate, whether it is a single family house, a multi-family apartment building, vacant land or a commercial building, is an intricate process that begins with the signing of a contract and ends when the keys and the title to the property are transferred to the purchaser. Although Illinois law does not...