Chicago Property Management Blog

Options AvailableFor a potential investor, there are many property investment options available. These options vary in the rate of return and the degree of risk involved. Property has long been a favorite for investors wishing to grow their wealth and it’s easy to see why.There are countless reasons for property being a sound investment for a potential investor – here are 5 of the most important ones:1. Inflation hedgeEvery ...

If you are buying property outside of the City Of Chicago limits, then it is imperative that you understand as a buyer the requirements that many suburbs have put in place before and after a real estate closing.  If the process is not clearly followed you, as the new owner, can have some large costs in the first 90 days of closing.  Point of Sale Inspection (POS)A Point of Sale Inspection (POS) occurs when a Village visits a p...

What is the Residential Landlord and Tenant Ordinance?In the 1980s the City Of Chicago passed the Residential Landlord and Tenant Ordinance to clean up the slumlords in the city of Chicago.  From this ordinance, it created many things that Landlords even today 40 years later are not aware of.  Below are some of the main issues you must be aware of as a Realtor or Landlord in the city of Chicago because if you are not the conse...

During the summer of 2020, amongst all the chaos that we have already experienced, the City Of Chicago approved the new Fair Housing Ordinance. This ordinance increases the amount of notice a landlord must give in order to not renew a lease, terminate a lease, or to raise the rent of a tenant.  Chicago Landlord Wants To Terminate Your Lease - Under the ordinance, landlords must provide:60 days of notice to terminate your lease if y...

Who is the IAR?Illinois REALTORS® is the only advocate for private property rights, at the state capitol in Springfield, and in communities statewide. They stand for excellence in advocacy, education and ethics for real estate practitioners, are committed to the revitalization of Chicagoland communities, and to expanding market opportunities. They’ve become one of Illinois’ largest trade associations, representing 50,000...

During the summer of 2020, amongst all the chaos that we have already experienced, the City Of Chicago approved the new Fair Housing Ordinance. This ordinance increases the amount of notice a landlord must give in order to not renew a lease, terminate a lease, or to raise the rent of a tenant.  Chicago Landlord Wants To Terminate Your Lease - Under the ordinance, landlords must provide:60 days of notice to terminate your lease if y...

Do you understand all the current landlord rules around evictions in Cook County? COVID has shaken things up, and understanding what you can and can’t do is more confusing than ever, so having an ally who understands the rules and will fight for you is paramount. If you're thinking about evicting a residential tenant in Chicago, and you have no idea where to start, check out the new episode of the Straight Up Chicag...

Assuming that you already have your first property up and running successfully in the Chicagoland area and your business is stabilized financially, it’s time to begin considering scaling and expanding.Scaling your business will allow you to make more money with less work (!!!). You’ll have more cash flow that can be distributed back into your business. The more properties you have, the easier it will be to have sy...

As a Property Management and Real Estate Brokerage firm, we weren’t always in the business of managing properties on the South Side of Chicago, or even the southern suburbs.  Our initial intention up until 2009 was to never step out of the Western & Northwestern suburbs, which was our comfort zone.  Being born in Elmwood Park, raised in Addison, having lived in Schaumburg for many years, and then Elgin for many at th...

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...