Chicago Property Management Blog

Chicago, Illinois is the 55th largest city in the world and the 3rd largest city in the United States. With well over 2 million people living there, real estate has become quite a large industry.It's also a very diverse industry with a lot of different areas and building types to invest in. Knowing how to invest can be the difference between a thriving business and bankruptcy.This raises a very big question--How do you successfully ...

Real estate investment opportunities can be tough to find in Chicago, especially when you’re first starting out in the business. However, if you know what to look for and how to find it, you can have an easier time finding some good opportunities that can make you money with little risk involved. Here are some tips on how to find investment opportunities in Chicago.Finding Single Family HomesLook for single-family homes for sale. ...

Around the country prices rising has been a hot topic for the last few years but it hasn't really been a topic here in Chicago until 2021.   It's important to be cognizant that Chicago real estate demand is affecting sale prices, it's important to be conservative on your proforma rent increase expectations and what the headwinds are, and yet we continue to see rent increases now. But if your question is how aggressive ...

IAR is the Illinois Association Realtors, and their mission basically breaks into two major categories.AdvocacyProfessionalism IAR is a state wide association for licensed Real Estate Brokers who then opt into becoming Realtors. To become a Realtor is an extra step, an extra credential. As a Realtor, you’re promising to adhere to a code of ethics - a code of professionalism and rules that you have to abide by that not on...

Winter can be rough on your home, especially if you live in an area that regularly experiences below-freezing temperatures during the winter season. As pipes get colder and colder, there’s always the risk that they’ll freeze, potentially causing them to burst and causing major damage to your property. To avoid frozen pipes and potential water damage, follow these 5 tips to prevent frozen pipes this winter. # 1 Turn off indoo...

Okay, you’ve decided you’re ready to seriously look into wholesale properties to start or build your investment portfolio. Good for you! So… now what? Today we’ll briefly cover how to work with a real estate wholesaler.Find the Right WholesalerYou know not all real estate agents are created equal. The same goes for real estate wholesalers. So, how do you find a good one? Investors usually find their contacts one...

Looking for a new job? Did you know more and more job seekers specifically seek out employers with flexible work arrangements? We did! Here at Greater Chicago Realty & Development, LLC (GCR&D), we embrace giving options where possible. So, if you’re ready for a remote/hybrid position, check out GCR&D. One Size Fits All Work Arrangement Don’t WorkThe workplace changed for all of us in the blink of an eye when...

Chicago porches became national headlines in 2003 when a Lincoln Park porch collapse killed 13 college-aged kids at a house party. If you are a Chicago real estate investor, this is a topic you must know about before buying your first property. The cost to get an older porch up to the current Chicago building code can cost you over $15,000 for a smaller 2 or 3 flat.  Prices can exceed $30,000 for 6 flats or larger buildings that ha...

Anyone who invests in real estate has probably heard of real estate wholesalers. A lot of people associate real estate wholesaling with those “We Buy Houses!” signs on the side of the road. But many misconceptions exist about the field itself and the quality of service these organizations provide. So today we’ll address how a real estate wholesaler can add value to your investment portfolio. Wholesaler 101Real estate w...

COVID has shaken things up, and understanding what you can and can’t do is more confusing than ever. Having an ally who understands the rules and will fight for you is paramount. Learn about the landlord process and protocol and learn about a new service coming out to help landlord’s screen tenants way more effectively! Key points:Non paying tenant in ChicagoKnow your rights Evictions prior to covidUnresponsive Ten...