Illinois 22-Year Rent Control Ban Faces Revocation

Recent advisory referendums suggest that the 22-Year Rent Control Ban in Illinois may be repealed in the near future. Three advisory referendums throughout the state overwhelmingly voted that Springfield should remove its law preventing rent control, which would allow local governments or the state to regulate the amounts charged for rented housing. Illinois is not […]

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Chicago Hotel Owners Face Looming Tax Increases, Surplus in Downtown Hotels

More than 2,000 new hotel rooms are expected to open in downtown Chicago in 2019 as tourism in the city reaches an all-time high. The additional 2,000 rooms increase the total number of hotel rooms downtown to 47,000, adding more competition in an already competitive market. The seven-year uptick in hotel construction has recently led […]

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Shadow Space Creates Risk for Downtown Landlords

As downtown Chicago sees a steady growth of massive new office buildings, Chicago landlords risk potentially damaging vacancies in their existing buildings. Many current downtown tenants are making the move to state-of-the-art office buildings that are currently under construction or have recently come online. For example, Bank of America will vacate more than 800,000 square […]

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New Assessor in November Could Equal Tax Consequences for Commercial Property Owners

After a shocking upset win by Fritz Kaegi in the Democratic primary for the Cook County Assessor over reigning Cook County Assessor Joe Berrios, in the event Mr. Kaegi wins the general election in November, commercial property owners may see a significant spike in their property taxes.  Mr. Berrios had been criticized for how commercial […]

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Zillow Beats Class Action Fraud Lawsuit

Earlier this month a federal judge in Chicago dismissed a class action lawsuit against the online real estate company, Zillow.  Zillow was accused by Illinois homeowners of violating the Illinois Deceptive Trade Practices Act and the Illinois Consumer Fraud Act in its promotion and use of the website’s “Zestimate” tool which posted millions of estimates […]

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Cook County Incentives Ordinance

On Wednesday, January 17, 2018, twenty-four Mayors throughout Cook County appeared before the Cook County Business and Economic Development Committee, to request a repeal of the new Cook County Incentives Ordinance 74-71(b)(2), which implemented new labor regulations and required Living Wage Incentives affidavits. The new affidavits required by Ordinance 74-71(b)(2) have made the already complex […]

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