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IN THIS ISSUE

CAA News
  • New Year Kick-Off (NYKO) pictures online
  • Trade Show & Education Conference booths selling quickly
  • City of Chicago Security Deposit Addendum for 2015
  • City issues problem landlord list
  • City Council postpones vote on Affordable Requirements Ordinance (ARO)
  • Welcome new members


  • Education In Focus
  • Certified Apartment Portfolio Supervisor (CAPS) Training


  • Industry News
  • Emanuel's affordable housing plan derailed amid concern higher fees could stifle development
  • Renters are pushing for larger apartments
  • Chicago tower sets sales record
  • Blackstone expands Chicago rental business with $1.7 billion deal





  • New Year Kick-Off (NYKO) pictures online
    CAA
    Over 300 people attended our annual new year celebration on January 15th at Carnivale in Chicago. Pictures from the event are now available in our photo gallery and on our Facebook page. Thank you to everyone who participated, including our generous sponsors.







    CORT - GOLUB & COMPANY, LLC - MCCAFFERY INTERESTS

    WASH MULTIFAMILY LAUNDRY SYSTEMS

    ADVANCED MAINTENANCE AND PEST SOLUTIONS, LLC

    GLOBAL SECURITY GROUP - LUDWIG AND COMPANY

    MAGELLAN PROPERTY MANAGEMENT - SMART ELEVATORS

    UNITED CARPET - YARDI SYSTEMS, INC.

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      FEATURED COMPANIES
    M&J Asphalt Paving Compnay, Inc.
    As a family-owned & -operated company, we understand that budgets are paramount when it comes to making ground maintenance decisions. This is why we have committed ourselves to extending the lifecycle of your pavement.
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    Lead Tracking Solutions
    Lead Tracking Solutions is a revolutionary leader in lead tracking & lead management for the multi housing industry. We provide immediate solutions that enable properties to automate, manage, & evolve their guest communications quickly & cost-effectively. MORE


    Trade Show & Education Conference booths selling quickly
    CAA
    Sales for booths for all CAA associate members opened on Jan. 21 and the show is now 65 percent sold. Please visit the Trade Show & Education Conference page of the CAA website for details on how you can secure your booth today.
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    City of Chicago Security Deposit Addendum for 2015
    CAA
    Late last week, the City of Chicago issued the official security deposit addendum that must be attached to all leases starting Jan. 1, 2015.
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    City issues problem landlord list
    CAA
    Last week, the Chicago City Council approved an ordinance to authorize publication of a list of "problem landlords." The list identifies residential building owners repeatedly cited for failing to provide tenants with basic services and protections, such as adequate heat, hot water, and working smoke and carbon monoxide detectors. Those on the list have been found liable in two or more Administrative Hearing cases within a 24-month period and have three or more serious building code violations. CAA will work with the city to better understand the list criteria and ensure that only the most egregious violators are affected and responsible owners are not unduly penalized. As expected, there are no CAA members/properties on the list, which can be viewed on the city's website here.
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    City Council postpones vote on Affordable Requirements Ordinance (ARO)
    CAA
    The Affordable Requirements Ordinance (ARO) did not advance last week in the City Council. Instead the measure was "deferred and published" and will not come up for a vote again until the next City Council meeting, currently scheduled for March 18. CAA thanks Alderman Carrie Austin (34th Ward) and Brendan Reilly (42nd Ward) who made the motion to "defer and publish," which will allow for more time to advocate for changes and extend the effective date of the measure.

    The ARO would require developers to build more affordable housing units, as opposed to opting out and paying in-lieu fees instead. For downtown rental projects, the proposal increases the in-lieu fees, requires 25 percent of required affordable units to be built, and includes a limited linked development option.

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    Welcome new members!

    Associate Members Owner/Management Members
    Chiper Technology Corporation Luxury Property Management
    Halsted Law Group Park Colony Owner, LLC

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    Certified Apartment Portfolio Supervisor (CAPS) Training

    Feb 24-27, 2015





    Take the next step in your professional development and become a certified success by earning your Certified Apartment Portfolio Supervisor (CAPS) designation. NAAEI’s CAPS program is an in-depth review of property management principles and techniques as used by the professional supervisor.

    FACT: Upon completion of the CAPS course, 86% of supervisors noticed an improvement in their employee's work performance.

    Changes company noticed and attributed to their employee completing the CAPS course:
    • 57 percent — Improved financial management skills
    • 57 percent — Improved risk management skills
    • 57 percent — Improved management portfolio
    • 43 percent — Enhanced leadership ability
    Register Today!
    Complete Course Details

    Feb. 10-11, 2015
    8:30 a.m.-4 p.m.
    Leasing Agent Licensing
    Register/More Info: Here
    National Louis University| 122 S. Michigan | Chicago, IL

    Feb. 24-27, 2015
    8:30 a.m.-4 p.m.
    Certified Apartment Portfolio Supervisor (CAPS)
    Register/More Info: Here
    CAA | 557 W. Randolph St, Ste 201 | Chicago, IL

    March 10, 2015
    Suppliers Success
    Register/More Info: Here
    CAA | 557 W. Randolph St, Ste 201 | Chicago, IL

    March 11 and 18, 2015
    Certified Apartment Supplier (CAS) Blended
    Register/More Info: Here
    CAA | 557 W. Randolph, Ste 201 | Chicago, IL

    March 11, 18 and 19, 2015
    Certified Apartment Manager (CAM) Blended
    Register/More Info: Here
    CAA | 557 W. Randolph, Ste 201 | Chicago, IL

    March 12, 2015
    EPA Multifamily Energy Reporting
    Register/More Info: Here
    Maggiano's | 516 N. Clark St. | Chicago, IL

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    Emanuel's affordable housing plan derailed amid concern higher fees could stifle development
    Chicago Sun Times
    Two powerful aldermen concerned about stifling development and pricing out middle-class consumers on Wednesday temporarily derailed Mayor Rahm Emanuel's complex solution to Chicago's affordable-housing crisis. Budget Committee Chairman Carrie Austin (34th), and downtown Ald. Brendan Reilly (42nd), her vice-chair, stalled the ordinance that would have required downtown developers who fail to build their own units within reach for low-and moderate-income residents to pay dramatically higher fees.
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    Renters are pushing for larger apartments
    The Wall Street Journal
    At a recent International Builders Show, architects and developers said they are seeing more demand for larger units, including more two-bedroom and three-bedroom apartments, that can comfortably accommodate roommates, families, affluent empty nesters and couples in their thirties with rising incomes looking to upgrade their living space.
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    Chicago tower sets sales record
    The Wall Street Journal
    In the latest sign that ultraluxury apartment living is spreading far beyond New York and San Francisco, a glass-sheathed tower changed hands in Chicago in a deal that is shattering records. The 60-story building, named OneEleven, was sold for $328.2 million, or $651,000 per unit, the highest price ever paid per unit for an apartment building of more than 50 units in Chicago.
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    Blackstone expands Chicago rental business with $1.7 billion deal
    Crain's Chicago Business
    Blackstone Group LP agreed to buy 36 apartment properties across the country for about $1.7 billion as it expands its Chicago-based rental business, according to two people with knowledge of the transaction. The low-rise, garden-style properties are being sold by Praedium Group, a New York-based real estate investment firm, and contain about 11,000 apartments, said the people, who asked not to be identified because the deal is private. About half of the buildings are in California, Washington, D.C. and Boston, with the rest located around the U.S., they said.
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    Multifamily housing set to remain strong in 2015 as demand from renters continues
    MultifamilyBiz.com
    The multifamily market has had strong demand in recent years and is set to remain that way in 2015, despite certain headwinds that could affect the industry, said panelists during a press conference at the National Association of Home Builders International Builders' Show in Las Vegas.
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    CAA In Focus
    Colby Horton, Vice President of Publishing, 469.420.2601
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    Esther Cho, Content Editor, 469.420.2671  
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    Chicagoland Apartment Association
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    Phone: 312-207-1890/Fax: 312-207-1890

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