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This article provides a brief overview of Chicago’s energy benchmarking program and links to resources where further details can be obtained. Instructions are also provided for board members of condo associations that are required to participate in the program. The practical requirement for most boards is to hire an energy-certified company to complete the benchmarking work on behalf of the association. While it is possible for a board to perform some of the required energy benchmarking steps directly, most will find it far easier to hire a firm to handle the entire process on their behalf. Ordinance Overview Information about the...

In today's property market, sustainability sells, and in Chicago, both buyers and tenants are looking for something more than just comfortable. They want efficient, environmentally responsible buildings that not only reduce cost but also carbon footprint. Knowing this, smart homeowners have started investing in green properties in Chicago, which not only helps them increase their long-term value but also attracts quality residents and lowers operating expenses. Why Green Upgrades Increase Property Value One key thing to note is that energy-efficient buildings are more than just fads; they are a profitable investment. With the help of sustainability features, you can lower your...

Administering a condo board in Illinois involves grasping complicated laws that are made to protect homeowners and shape decisions. Many board members only understand the extent of their legal obligations when their board faces complaints, fines, or disputes. This guide explains the important Illinois and Chicago laws every condo board must abide by to stay in compliance and avoid costly mistakes. Core Statutes Boards Must Follow Illinois condo boards are generally governed by three main laws. These include: Condominium Property Act (CPA) – It helps in defining elections, meetings, record-keeping, and fiduciary duties.Common Interest Community Association Act (CICAA) – This Act...

Bring Your Property Management Into The Digital Age! Are you a board member or investor that is still taking payments through a person or through the mail? How do you manage the day-to-day aspects of your commercial or residential properties? Are you really on top of the management aspect as you may think you are? Have you ever considered streamlining the process with digital rental and association management software? All of these questions can easily be answered by working with a property management company in Chicago. You can bring your rental properties into the digital age with software made accessible by...

Tips for Buying an Established Rental Property As a real estate investor, you may be inclined to buy a property in Chicago that is already inhabited by tenants who’ve been there for some time. When you inherit tenants that are established, it can be quite a daunting task to know how to handle the situation. There are some ways you can make this transition easier by working with the tenants and your property management team in Chicago. You want to get to know your tenants while also informing them of any changes and updates they need to know to keep the...