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IN THIS ISSUE

CAA News
  • Concealed carry in Illinois
  • TSEC booth sales open to all associate members
  • New year kicks off
  • Welcome new member!

  • Education In Focus
  • Congratulate new NAA Designates!

    Industry News
  • Aging boomers could lead to shift in housing demand
  • Riding the wave: Legal issues in the apartment development boom
  • Attracting younger talent into real estate
  • Developer: 11-story apartment building would revitalize Lincoln Avenue
  • Pennsylvania's gay seniors get new affordable housing complex
  • Why company culture is so important
  • Wheaton 121 offers renters resort-style perks
  • DFW apartment development, demand on a hot streak
  • Is it the year of the mid-rise in Houston? Apartments go luxe for those seeking the good life




  • Concealed carry in Illinois
    Jessica L. Ryan, Principal Attorney, Kovitz Shifrin Nesbit
    Under Illinois’ Firearm Concealed Carry Act, individuals, including your employees and tenants, now have the right to carry concealed firearms, subject to certain limitations. Regulators issued thousands of concealed carry permits during the first quarter of 2014 which should prompt building owners and managers to consider their position on the issue. Rental property owners, along with other businesses, generally have the right to ban weapons on their property and the act includes several provisions that directly affect landlords, rental property managers, and tenants.
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    TSEC booth sales open to all associate members
    CAA
    Booths go on sale to all associate members at 10 a.m. CST Jan. 16. Click on the Trade Show & Education Conference page of the CAA website for more information on how to register. Click here to learn more about Associate Membership.
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    New year kicks off
    CAA
    Thank you to everyone that sponsored and attended our annual holiday party and new year kick off Jan. 9 at Carnivale. Click here to view photos from the event. Congratulations to 50/50 Raffle winner Adriana Carbonara of For Rent Media Solutions. Adriana and the Northern Illinois Food Bank both took home $530. Thank you to all raffle participants. We look forward to a successful 2014! See all sponsors.
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    Welcome new members!

    Associate member Owner/management member
    Bank Financial Blue Chair Capital, LLC.
    Bath Fitter High Fidelity Property Management.
    Butler Burgher Group Lennar Multifamily Communities
    Klein & Hoffman Maguire & Associates
    Parr Insurance Brokerage, Inc.

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    Congratulate new NAA Designates!
    Garrett Jones, Trio Towers, Marquette Management — Certified Apartment Manager
    Claudio Ruiz, Lake Meadows Apartments, D&K Living — Certified Apartment Manager

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    UPCOMING COURSE SCHEDULE

    Date Event Location

    Complete Course Calendar
    Jan. 30 Legal Seminar 2014 — City Focus 8:30 a.m. - noon
    CAA Office, 557 W. Randolph, Ste 201, Chicago
    $89/$109 nonmember rate
    Sponsorship opportunities are available
    Feb. 11-12 Leasing Agent Licensing Class 8:30 a.m. – 4:30 p.m.
    National Lewis University, 122 S. Michigan, Chicago
    $195
    Feb. 20 Maintenance Mornings — Be Prepared 8:30 a.m. – 11:30 a.m.
    Session: Plumbing Fundamentals
    Roto-Rooter Services Office~1800 Landmeier Rd., Elk Grove Village, Ill. 60007
    Free for members/$25 nonmember rate
    Sponsored by: Roto-Rooter Services Company
    March 6 Bright Future for Best Practices — Networking Breakfast for Residential Multi-Family Managers & Human Resources Professionals 8:30 a.m. – noon
    Hyatt Place Chicago-South, 5225 S. Harper Ave. Chicago
    $69/$89 nonmember rate
    Sponsored by: BG Staffing
    March 13 Suppliers Success 8:30 a.m. – 4 p.m.
    CAA Office, 557 W. Randolph, Ste 201, Chicago
    $99
    Sponsorship opportunities are available




    Aging boomers could lead to shift in housing demand
    Realty Biz News
    Aging boomers could lead to a shift in housing demand over the next few years, reshaping the housing market in the U.S. and affecting the economy. A lot of baby boomers will choose to move out of family homes and to downsize into multifamily units consisting of smaller town homes, condominiums and apartments. It's a perfectly normal choice to choose to downsize, but it could lead to a stronger rebound in the construction of multifamily units as opposed to single-family homes.
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    Riding the wave: Legal issues in the apartment development boom
    REJournals.com
    The boom in multifamily rental development rolled on unabated throughout 2013, and looks to continue into 2014 and beyond. The growth of this sector has resulted from a perfect storm of economic and demographic factors: continued high unemployment and tight mortgage policies have made home ownership inaccessible for many, while a growing number of baby boom retirees and echo boom young adults find the flexibility of renting to be an affirmative advantage. As a result, large numbers of developers — including many who previously would have focused on single-family residential, condominium or retail development — are looking at apartment development as "the answer" to jumpstart their stagnant project portfolios.
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    Attracting younger talent into real estate
    Chicago Tribune
    Real estate agents are getting old. Well, older, anyway, and that's a source of some concern to many in the brokerage world, who have raised the question repeatedly at industry events in the past few years: As the baby boom generation begins to retire in massive numbers, who's going to be out there selling houses? The National Association of Realtors says the median age of its members has inched up to 57, its highest level in 15 years. Agents 40 and younger were just 11 percent of its membership in 2013, down from 20 percent in 2003.
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    Developer: 11-story apartment building would revitalize Lincoln Avenue
    DNAinfo Chicago
    A developer is proposing an 11-story 225-apartment building, which he hopes will bring life to a "deteriorating" stretch of Lincoln Avenue. Warren Baker, president of Baker Development Corp., wants to tear down the 30-unit Lincoln Centre condominium building, 2518-2540 N. Lincoln Avenue, to make way for the new project. The initial plan, which he stressed was not final, would include a 122-foot-high building along Lincoln Avenue and a 107-foot-high building along Altgeld Street with 225 luxury apartment units.
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    Pennsylvania's gay seniors get new affordable housing complex
    The Associated Press via The Huffington Post
    Jerry Zeft was so excited to move into his new apartment that he slept on an air mattress for nearly a week while he waited for his bed and other belongings to catch up with him. No matter that he's 70 years old. Zeft had landed a coveted spot in a new affordable housing complex for lesbian, gay, bisexual and transgender seniors in the heart of downtown Philadelphia. Only two other U.S. cities have similar developments.
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    Why company culture is so important
    By Erica Cohen
    Unless you've spent the last decade or so living under a rock, you've definitely heard the phrase "company culture" being bandied about. And while it's become the center of attention in many discussions about how to build a successful company, I have to wonder if everyone who talks about company culture actually understands what it means and how to create and maintain an authentic one. Let's consider the definition of company or organizational culture and why it matters.
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    Wheaton 121 offers renters resort-style perks
    Chicago Tribune
    Like many college towns, Wheaton has a central shopping district with a vibrant mix of restaurants and stores. Several years ago, the historic former DuPage County courthouse was redeveloped into condominiums as part of a new housing development. Now, renters have a new choice with Wheaton 121, the 306-unit luxury apartment complex nearing completion at 121 Cross St.
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    DFW apartment development, demand on a hot streak
    Dallas Business Journal
    Dallas-Fort Worth apartment development and demand are on a hot streak, outperforming expectations by analysts. In the fourth quarter, North Texas developers built 3,074 new apartments, and although demand for apartments typically chills with the weather, the demand roughly kept pace with 2,739 apartments absorbed in the quarter, according to research by Carrollton-based MPF Research, a division of RealPage Inc.
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    Is it the year of the mid-rise in Houston? Apartments go luxe for those seeking the good life
    CultureMap
    While the Houston City Council continues to wrangle with issues of high-rises in established neighborhoods and changes to the Chapter 42 development ordinance, a stealth trend appears to be emerging, particularly inside the 610 Loop: Call it the rise of the mid-rise. A number of four to six-story projects with luxury features are popping up across the city as developers rush in to entice renters who want nice amenities at a premium price.
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    Thank you 2014 NYKO sponsors!


    Chicagoland Signs
    Energetics Management, Inc.
    Ludwig and Company
    Magellan Property Management
    RCN Telecom Services of Illinois, Inc.
    Smithereen Pest Management
    The Habitat Company, LLC
    Waterton Residential, LLC


     

    CAA In Focus
    Colby Horton, Vice President of Publishing, 469.420.2601
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