News & Information

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Lollapalooza

Grant Park Area Street Closures In Effect For Lollapalooza Music Festival

Lollapalooza begins Thursday, July 28 and continues through Sunday, July 31, but preparation for the event will result in road closures leading up to the four day festival. Lollapalooza brings large crowds daily to Grant Park in Chicago. Festival hours are from 11:00 a.m. to 10:00 p.m. each day. Grant Park […]

Bedroom design

Changes for Airbnb hosts

A proposed ordinance filed this week by Aldermen Joe Moore, 49th, and Ameya Pawar, 47th, and backed by Mayor Rahm Emanuel, for anyone who rents their living space for up to 90 days a year would have to register with the city. Described as “a free and simple online process” […]

It’s now harder to get that garage-top deck approved

[Crain’s] Decks atop garages were once essentially a given in every single-family home from Old Town to Lakeview on the market for upward of $1 million. Most buyers expect the decks, which help increase the living space on tight city lots, says Dennis Dooley, vice president and managing broker at […]

Chicago Mayor Rahm Emanuel arrives at a town hall meeting on the city budget in Chicago

Chicago approves Emanuel’s property tax increase

Chicago Mayor Rahm Emanuel’s $7.8 billion fiscal 2016 budget and a historic property tax increase to pay for public safety worker pensions easily cleared the city council on Wednesday. However, the plan for the fiscal year that begins on Jan. 1 still faces uncertainties in the Illinois Legislature and supreme […]

Chicago ARO

Navigating the New Affordable Requirements Ordinance (ARO)

The Home Builders Association of Greater Chicago (HBAGC) presented “Navigating the New ARO” on May 28th to a packed room at the Dream20 Showroom in the Merchandise Mart. The City of Chicago’s Affordable Requirements Ordinance requires residential developments that receive city financial assistance or involve city-owned land to provide a percentage […]

New affordable housing fees

[Sun-Times] Mayor Rahm Emanuel’s complex solution to Chicago’s affordable housing crisis was advanced by a City Council committee Wednesday, amid concern that the costly mandates could stifle residential development. Chicago’s existing “affordable requirements ordinance” offers a choice to developers of projects with 10 or more new or rehabilitated units that […]

July Newsletter

Market gaining momentum after weather, low inventory slowed spring sales. Despite a slow start, 2014 is proving to be an eventful year for housing. Here at @properties, we’ve been keeping a close watch on local market conditions, and all signs point to a very busy second half of the year. Let’s take a closer look at some first half highlights and what to expect this summer and fal

Changes to Chicago Parking

There are changes coming to the parking meters in Chicago. Mayor Emanuel announced several modifications which include free parking on Sundays. For having free parking on Sundays, neighborhoods outside the downtown area which have meters that currently expire at 9 pm will now be extended an hour until 10 pm. […]

FHA’s Financial Woes

An independent audit last month revealed that the Federal Housing Administration had a $16.3 billion deficit ($30.3 billion in cash reserves as of Sept. 30 to cover $46.6 billion in projected losses), most of which, accounted for loans backed between 2007-2009.  Agency officials however have stressed that it has no […]

Panel OKs subsidies for Bronzeville redevelopment project

As reported yesterday in Crain’s, the redevelopment for  the Rosenwald Courts building, in the Bronzeville neighborhood has been approved, 7-1, and is set to received up to $25 million in tax-increment funding (TIF). The development which will hold 331 units, will have 18 market rate apartments with the remaining homes […]