Chicago Property Management Blog

Like many Real Estate professionals, Jonathan Klemm transitioned away from a career with a W-2; what is remarkable about him is his background working with Walsh Construction, which is one of Chicago’s largest construction and contracting companies. Jonathan has taken everything he learned about managing large scale projects and applied it to smaller, investor focused projects.Key points:What to ask potential contractorsInvestor f...

With the Lake, a world-class University, and a plethora of transportation, Evanston is an extremely attractive and diverse marketplace for many investors. Jaimie Steinher of Essex Realty exclusively covers Evanston, and provides on the ground insights to help you navigate the different pockets of the city. Jamie lays out cap rates, average rents, and tenant expectations in an episode packed with tangible takeaways.Key points:Overview of...

For many Chicagoans, the front porch of a home has been the focal point of countless memorable times. Since COVID, the importance of “outdoor spaces” in real estate has re-emerged as a priority for plenty of homebuyers, too. But how many investors know how to evaluate the build quality of a property with a porch? Now only that, but what is the process like when wanting to add a back porch to an existing property? How do you ...

As most of you know by now, in February Cook County passed the new RTLO.  Then in June 2021 the ordinance officially went into effect in all areas of Cook County, excluding Chicago, Oak Park, Mt Prospect, & Evanston.  While many have been scrambling to remain in compliance, creating new bank accounts for security deposits, we have been 1) in the same boat and 2) working on a new lease for our residents in Cook Country.&nbs...

Ryan Smith is not an optimist, but a realist. With a stark numbers-based opinion, Ryan provides his thoughts on Chicago’s housing market, the strength and the validity of the recent appreciation in the area, and how long it may take to cycle through upcoming foreclosure inventory. Key points:Is outside capital coming into Chicago?Are Chicagoans underwater?Foreclosure inventory statusBuying opportunitiesNow vs. 2008 recessionA...

One of the most important team members that real estate investors rely on is their attorney. Not all closings are created equal and Gina Diaz explains some of the closing nuances both through the eyes of an attorney and as an investor. Gina provides great insight into how to successfully close on a short sale, what to be aware of in a double closing, and how to work with a title company and attorney to successfully wholesale a deal.Key ...

Possibly the biggest consideration when taking on a rehab project is how to finance the deal. We’ve all considered hard money, FHA has their 203K loan program, and we’ve probably seen a late night commercial or two about financing. Perry Farella of Prime Lending talks us through a loan program which is a cross between a conventional loan and hard money, something that you don’t even need to refinance out of once the pr...

We all know about the numerous laws either being proposed or already enacted affecting housing providers and investors. Groups like the Illinois Association of Realtors, the NBOA, CAR, and others are working every day to keep laws fair and protect the people. Gideon Blustein, is the director of member outreach for the Illinois REALTORS and talks through some of the current issues at the forefront of everyone's mind as well as how we...

Lee Kiser is the co-founder of Kiser Group, a member of the Forbes Real Estate Council, and a wealth of knowledge in the Chicago market (and a local musician!). In today’s episode, Lee provides his thoughts on how today’s hot market differs from 2005, how institutional and private money has altered apartment investing in Chicago, and what neighborhoods are on the rise.Key points:Today vs. 2005Which neighborhoods are on the r...

One of the most important allies to an investor is the broker they work with. Gloria Weikert runs the X-Plus team and has a specialty in helping clients buy investment properties. In today’s episode, Gloria gives some insight on what it takes to win deals in a competitive market that go past just offering more money; breakdowns of different neighborhoods; tenant and rental profiles in varying neighborhoods as well as plenty more.K...