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IN THIS ISSUE

CAA News
  • City Council toughens affordable housing development standard
  • CAA lobbies Congress at Capitol Conference
  • Urge your residents to vote on April 7
  • Less than 1 month until the Trade Show & Education Conference
  • Don't miss CAMME Awards' early bird entry deadline
  • Golf sponsorship sales date announced
  • Welcome new members!


  • Education In Focus
  • Energy Benchmarking Update & Networking Reception


  • Industry News
  • Chicago land sale would pave way for South Loop apartment tower
  • Home construction slumps as bad weather holds back builders
  • Suburban apartment market 'cruising along'
  • Survey: Investors still prefer flipping despite rising rents, low vacancy rates
  • Zillow forecasts mass exodus of renters into homeownership
  • Near North apartments fetch $104 million







  • City Council toughens affordable housing development standard
    CAA
    On March 18, the Chicago City Council approved amendments to the Affordable Requirements Ordinance (ARO) that will increase costs for developers by raising the in-lieu fee structure and requiring a percentage of mandated affordable units be built. CAA worked in coalition with other real estate groups to propose changes intended to minimize the negative impact of the new ARO. Developers have predicted many project won’t be built because financing cannot be achieved under the new requirements. While only minor concessions were granted in the final ordinance, the city indicated a willingness to continue discussing our concerns. We remain hopeful the ordinance will be amended at a later date.
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    CAA lobbies Congress at Capitol Conference
    CAA
    CAA members participated in NAA’s Capitol Conference last week and lobbied Members of Congress on tax reform, immigration, and the HUD Section 8 Housing Choice Voucher Program. CAA EVP Mike Mini, members Diana Pittro of RMK Management, Dan Galdden and Steve Halsey of AMLI, and Paul Arena of the Rockford Apartment Association met with Illinois Congressmen Danny Davis, Randy Hultgren, Mike Quigley and others to explain the positive economic impact the apartment industry has on the economy.


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    Urge your residents to vote on April 7
    CAA
    CAA members in Chicago can provide a valuable service to residents by urging them to vote early or by mail in the April 7th municipal election. Early voting will be held in all wards March 23-April 4. Click here for early voting times and locations. Residents can also vote my mail (VBM) by printing off and submitting this application.

    Consider making this information available to residents by posting a notice, sending it to them via email, posting on your website, and making the VBM application available in the building lobby or other common area.

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    Less than 1 month until the Trade Show & Education Conference
    CAA









    The 2015 Trade Show & Education Conference (TSEC) is quickly approaching. Check out the TSEC page of the CAA website to view the 2015 schedule, session information, instructions on how to download our event app and a digital floor plan featuring all 140+ exhibitor companies currently registered.

    Management company employees should click here to register to attend. Prizes, raffles, and more await you (including our event app's photo scavenger contest with a $500 prize for the winner).

    Associate Members: We have tabletop booths available for companies with 6 total employees or fewer. This is your last chance to grab a booth. Click here for information on how to register, and here for detailed booth and exhibiting information.

    Remember: exhibiting associate members are the only vendors allowed to attend the show.

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      FEATURED COMPANIES
    Bed Bug Elimination Specialists

    Prep X provides integrated pest treatments including skilled preparation services and heat chamber. After pest servicing, we will even put the encased bed back in place so residents can sleep that evening. Please click the above links for the e-brochures or email or call (312)339-5032 for free quote. Mention this ad and get the first bed encased FREE of charge.   

    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.
    We take pride in delivering quality work in a wide variety of areas.
    Wheel Stops                            Striping
    Crack Filling                            Sealcoating
    MORE


    Don't miss CAMME Awards' early bird entry deadline
    CAA
    The entry forms and categories for the 2015 CAMME Awards are now available on the CAMME Web page. All entries submitted by the April 24 early bird deadline will be entered into a raffle to win a (five available) $50 gift card.

    Interested in judging? We need your participation (especially if you work for a management company)! Click here for a judging volunteer form.

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    Golf sponsorship sales date announced
    CAA
    Sponsorships for the 2015 outing will go on sale on Friday, April 3 at 10 a.m. CST on a first come, first served basis. Click on the Golf Outing Web page to view a sponsorship flyer with additional details. Registrations will not be accepted before the aforementioned sales date/time.

    Don't forget to register your foursome to golf! Click here to sign up today.

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    Welcome new members!

    Associate Members Owner/Management Members
    McCracken, McCracken & Behrens, P.C. Pabcor Management
    Roy's Paving & Sealcoating

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    Energy Benchmarking Update & Networking Reception

    New Date — Wednesday, April 8, 2015
    Maggiano's Chicago
    516 North Clark Street | Chicago, IL 60606
    3 p.m.-5:30 p.m.
    Space is still available: Register here

    Panelists
    Amy Jewel, Senior City Advisor, City Energy Project
    Brennan Booms, Manager of Energy Services, AMLI Residential
    Brett Kraus, Senior Counsel Utility Services, Director of Energy Efficiency, Conservice
    Barney Pullam, CPM, Vice President-Business Process, Waterton Residential

    In September 2013, Mayor Emanuel and Chicago's City Council adopted a building energy benchmarking ordinance to raise awareness of energy performance through information and transparency, with the goal of unlocking energy and cost savings opportunities for businesses and residents.

    Chicago's Building Energy Use Benchmarking Ordinance calls on existing municipal, commercial, and residential buildings larger than 50,000 square feet to track whole-building energy use, report to the City annually, and verify data accuracy every three years. The law covers less than 1 percent of Chicago's buildings, which account for 20 percent of total energy used by all buildings.

    Improving energy efficiency is a key element of Sustainable Chicago 2015, Mayor Emanuel's 3-year action agenda to make Chicago more livable, competitive, and sustainable.

    The next compliance deadline is June 1, 2015 for municipal and commercial buildings larger than 50,000 square feet and residential buildings larger than 250,000 square feet.

    Lead Renovator Refresher Training (RRP)

    Date: April 7, 2015
    CAA| 557 W. Randolph 2nd FL. | Chicago, IL
    Register Here

    For individuals who have previously completed the Lead Renovator Initial Certification in compliance with the Renovation, Repair, and Painting (RRP) rule, this 4-hour Refresher Course is required to renew your individual certification. Our courses are delivered by experienced instructors, and will provide you with all the current information you need to successfully and safely perform RRP work in the field.

    Topics include:
    Regulations
    Testing for Lead-Based Paint
    Review of Set-Up Practices
    Review of Prohibited Practices, Personal Protective Equipment and Dust Control
    Cleaning Activities and Checking Your Work
    Recordkeeping
    Training of Non-Certified Renovators

    This Lead-safe Renovator Refresher course can be completed at any time prior to the expiration of your Initial Renovator Certification, so register today to prevent any delays in your recertification! Please Note: Students are required to bring a copy of their initial Lead Renovator certificate to the refresher class, so that there are no delays in issuing the new RRP certificate!



    March 25, 2015
    Fair Housing — SOLD OUT
    CAA | 557 W. Randolph 2nd FL. | Chicago, IL
    Register Here

    April 7, 2015
    Lead Renovator Refresher Training (RRP)
    CAA | 557 W. Randolph 2nd FL. | Chicago, IL
    Register Here

    April 8, 2015
    Energy Benchmarking Update & Networking Reception
    Maggiano's | 516 North Clark Street | Chicago, IL
    Register Here

    April 9-10, 2015
    Leasing Agent Licensing
    National-Louis Univ | 122 S. Michigan | Chicago, IL
    Register Here

    April 22, 2015
    Certified Pool/Spa Operator Certified Program (CPO)
    CAA | 557 W. Randolph 2nd FL. | Chicago, IL
    Register Here

    May 7, 2015
    Fair Housing for Maintenance Professionals
    CAA | 557 W. Randolph 2nd FL. | Chicago, IL
    Register Here

    May 13, 2015
    Lead Renovator Refresher Training (RRP)
    CAA | 557 W. Randolph 2nd FL. | Chicago, IL
    Register Here

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    Chicago land sale would pave way for South Loop apartment tower
    Crain's Chicago Business
    Chicago developer Keith Giles plans to build a 24-story apartment tower on South Loop land he would buy from the city for $4.4 million. Mayor Rahm Emanuel introduced the potential land sale at 1136-40 S. Wabash Ave. to the City Council, according to a statement released from his office. If the sale is approved, Giles would spend $64 million developing a 280-unit apartment building on the parking lot that now stands on the 19,000-square-foot site, the statement said.
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    Home construction slumps as bad weather holds back builders
    Bloomberg News via Chicago Tribune
    Housing starts plummeted in February by the most since 2011 as plunging temperatures and snow became the latest hurdles for an industry struggling to recover. Work began on 897,000 houses at an annualized rate, down 17 percent from January and the fewest in a year, the Commerce Department reported in Washington. The pace was slower than the most pessimistic projection in a Bloomberg survey of 81 economists.
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    Suburban apartment market 'cruising along'
    Crain's Chicago Business
    Suburban apartment dwellers didn't get any relief in 2014, and they shouldn't expect much this year, either. The median net rent in the Chicago suburbs rose to $1.29 a square foot in the fourth quarter, another record, up 4.7 percent from a year earlier, according to a report from Appraisal Research Counselors, a Chicago-based consulting firm. The occupancy rate was 95.3 percent, versus 95.1 percent a year earlier.
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    Survey: Investors still prefer flipping despite rising rents, low vacancy rates
    DSNews
    A report by Auction.com indicated that investors still prefer a fix-and-flip strategy for the properties they purchase despite rising rents and low vacancy rates in many markets. In its February 2015 "Real Estate Investor Activity Report," Auction.com reported that overall, 56 percent of investors preferred flipping compared to 42.8 percent who preferred renting.
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    Zillow forecasts mass exodus of renters into homeownership
    National Mortgage Professional
    The latest data volley in the buying-versus-renting debate suggests that a great migration of renters into homeownership will take place this year. According to the latest Zillow Housing Confidence Index, more than 12 percent of current renters nationwide — roughly 5.2 million — stated they were planning to buy a house in the next year. This level is almost 25 percent above last year's levels, when 4.2 million renters said they were ready to part ways with their landlords.
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    Near North apartments fetch $104 million
    Crain's Chicago Business
    Chicago landlord Robert Buford has paid $104 million for the Chicagoan, a 221-unit apartment tower in the Gold Coast, his second acquisition in the neighborhood in less than six months. The sellers, a venture of Chicago-based Draper & Kramer, Washington-based National Real Estate Advisors and the Wolbach family of Chicago, announced the sale of the 37-story building at 750 N. Rush Street to Buford's firm, Planned Property Management, confirming a Crain's report in January.
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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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