Category: Real Estate Law
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
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
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
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