Posts tagged "chicago"

Cost of Ilinois Corruption? $38.85 Per Resident

Cost of Ilinois Corruption? $38.85 Per Resident
Former Chicago Alderman and current Head of the UIC Political Science Department Dick Simpson shed some light on just how corrupt Chicago is recently. On Feb. 15, Simpson, his colleagues and students published a comprehensive report on the lengthy conviction history of Chicago and Illinois. The research was presented before the City Council, and could... Read more »

Forbes: Chicago Sixth Most Miserable City

Forbes: Chicago Sixth Most Miserable City
In the type of story designed to generate page views and arguments, Forbes released its list of America’s Most Miserable Cities, and Chicago is No. 6 on the list. A bit further down on the list, Rockford comes in at No. 9, while Miami was deemed the most miserable city in America. The list takes... Read more »

Get Foreclosed, Get Paid?

Get Foreclosed, Get Paid?
Today’s typical foreclosure results in the property being sold at a sheriff’s sale for less — often, much less — than what the bank was owed on the previous mortgage. But that isn’t always the case. Although it’s rare, sometimes the sheriff’s sale fetches a sale price higher than the note, which results in a... Read more »

Is It Time to Change Security Deposit Laws?

I’ve handled many, many cases involving landlord-tenant disputes in Chicago, and one of the most frequently litigated (or settled) areas of the law among landlords and tenants is the security deposit portion of the Chicago Residential Landlord Tenant Ordinance. And after representing both landlords and tenants, it’s become more clear than ever that it’s time... Read more »

Things You Shouldn't Hear From Your Agent

This blog has discussed before the important role of a real estate agent in a home/condo purchase. Chicago is blessed to have some of the nation’s top agents helping homebuyers find a suitable property. There are, however, some distinct warning signs that your agent isn’t right for you. Here are five statements you don’t want... Read more »

Can the Homeowner Associations Resurrect Condo Sales?

A funny thing happened during the real estate boom: Condo owners became vital businesspeople and condo boards (pictured) became crucial to their building’s future. Whether they wanted to or not, the individuals behind the Homeowners’/Condo Associations often times determined the fate of their entire building, and, to some degree, the Chicago condo market. One developing... Read more »

Loan Modifications in the News

Today’s Chicago Tribune sheds some light on the much-criticized loan modification industry in Chicago and nationwide. It’s a piercing look at the predatory nature of the business, particularly the legal community’s involvement.  For those who haven’t read the piece, it discusses the role of attorneys in the loan modification process, and how often times it... Read more »

Daley's Departure: The Real Estate Ramifications

On Wednesday, Mayor Richard M. Daley announced he will not seek re-election, thus ending his 21-year reign as mayor of Chicago. It has been a remarkable tenure for Daley, who is now known internationally for his often-brash method of city management and handling the media. As his mayoral run comes to end and politicians line... Read more »

New Rules for Converting to Condo

Mayor Richard M. Daley announced new regulations yesterday targeting apartment landlords who convert to condos. Daley will formally introduce the proposal at the City Council meeting on Wednesday, Sept. 8. Under the new plan, developers and building owners will be required to give more notice to renters that their units are going to be converted.... Read more »

Credit Scores Increasingly Critical in Home Buying

There was a time when your credit score was a factor in your ability to secure a home loan, but it wasn’t the most important factor. In the real estate heyday, credit scores were often overlooked as long as income — stated or actual — was steady. That was then, this is now. The Associated... Read more »
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