Chicago Property Management Blog

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...

Are you looking for distressed deals? The Cook County Land Bank (CCLB) has plenty and they slip right under most investor’s noses! Rob Rose provides an overview of the CCLB, a socially responsible wholesaler working with investors to turn dilapidated properties into newly remodeled homes. Rob describes CCLB’s acquisition process, their commitment to neighborhoods, CCLB’s unique ability to wipe out liens, and how y...

Have you considered investing in Lake County? Or minimizing vacancies with a 3 year rent-to-own lease? Bill Powers has successfully done both of these actions to scale his business to 250+ rent to own properties in the last ten years. Bill has developed perfect assets, screened each tenant, and assists tenants with lending programs, thus enabling him to keep his occupancy at 99%! Not to mention, Bill's short term rental li...