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IN THIS ISSUE

CAA News
  • Business Exchange registration
  • Legislative update — Illinois General Assembly & Chicago City Council
  • Weighing in on term limits and re-districting to stop congressional gridlock
  • CAA member window decal included with 2nd Quarter Aptitudes
  • HUD appropriations amendment limits value of housing choice vouchers
  • Welcome new members


  • Education In Focus
  • Only 1 week left to register!
  • Mastering Basic Leasing Skills — How to Lease in a Competitive and Challenging Market
  • Guns, Marijuana & Multi-Family Housing ... the Legal and Practical Policy Considerations


  • Industry News
  • Apartment building foreclosures plunge in Chicago
  • Why renters are ending up in the suburbs
  • Proposed 4-story apartment building draws complaints
  • Study: Chicago home prices up 20 percent from 1st quarter 2013
  • US apartments in debt deal rent for less
  • What the foreclosure crisis looks like in urban neighborhoods with few single-family homes







  • Business Exchange registration
    CAA
    Registration is FREE* and now open for management company executives (member and non-member) that participate in the Aug. 13 Business Exchange. Not only are attendees able to network with their peers and 60-plus vendors in 2 1/2 hours, but by donating their time, they will help raise money for the CAA's Political Action Committee.

    Registration for associate members (only) will open online on July 1 at 10 a.m. CST and sold on a first-come, first-served basis. Registrations will not be accepted before this time/date. Registration is limited to one employee per company at this point. Be sure to log in to shorten your check-out time. We look forward to seeing you there!

    *No-shows will be charged $50 after the event.

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    Legislative update — Illinois General Assembly & Chicago City Council
    CAA
    The Illinois House adjourned its spring session on the evening of May 30 and the Senate did so shortly after midnight, thus ending an Illinois General Assembly session that discussed a lot of grandiose plans, but did not see many of them come to fruition. Proposals to increase the minimum wage, to adopt a graduated income tax, to extend the temporary income tax increase, to revamp Illinois' business tax and economic development climate, to give taxpayers a $500 property tax rebate and to tax incomes over $1 million all failed to advance out of the legislature.
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    Weighing in on term limits and re-districting to stop congressional gridlock
    Greg Brown, NAA Senior Vice President of Government Affairs
    Apartment Industry Colleagues,

    Happy summer!

    I have the pleasure of traveling to a number of NAA affiliates each year as part of my role on the Government Affairs team. Typically, I am afforded some time to speak to a membership meeting, Leadership Lyceum or other gathering and share some information or observations on what's happening in Washington, D.C. Considering the daily serving of shenanigans in the Nation's Capital, there is no shortage of gallows humor at the level of gridlock or craziness that pervades the federal policymaking process. Stand-up comedians have made careers from the material they get out of Washington.

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    CAA member window decal included with 2nd Quarter Apt.itudes
    CAA
    The 2nd Quarter magazine will ship the week of June 16. All CAA member properties, owner/management companies and associate members will receive a window decal which we hope you will proudly display at your business entry way. "Do Business with a CAA Member" and let others know that you support the association and the industry!
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    HUD appropriations amendment limits value of housing choice vouchers
    CAA
    On Tuesday, June 10, U.S. Rep. Aaron Schock passed an amendment to the HUD appropriations bill that would prohibit HUD from issuing any vouchers in excess of 120 percent of FMR rates. See the link below for Rep. Schock's floor speech on the amendment followed by his written statement on measure.

    https://www.youtube.com/watch?v=QKe1y6psZf0&feature=youtu.be

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    Welcome new members!

    Owner/management company member
    Hunt Realty

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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
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    Only 1 week left to register!
    CAA
    Certified Apartment Portfolio Supervisor (CAPS)
    July 14-17, 2014
    CAA Office, 557 W. Randolph, Ste 201, Chicago, IL
    (8:30 a.m.-4 p.m.)

    CAPS designates enjoy the benefit of standing out in a competitive world. The CAPS designation provides:
    • Professional credibility
    • Industry recognition
    • Personal growth and development
    Dare to be the exception! Distinguish yourself with a NAAEI CAPS Designation!

    Registration deadline is June 20, 2014!
    Only 10 spots left!

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    Mastering Basic Leasing Skills — How to Lease in a Competitive and Challenging Market
    CAA
    Date: Friday, July 25, 2014
    Time: 8:30 a.m.-10:30 a.m.
    Location: CAA Office, 557 W Randolph 2nd Floors, Chicago, IL
    Cost: $39 | Register Here | includes coffee and breakfast snacks
    Speaker: Michael Lojas, NALP | Director of Leasing | DK Living

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    Guns, Marijuana & Multi-Family Housing ... the Legal and Practical Policy Considerations
    CAA
    Date: Thursday, Aug. 28, 2014
    Time: 8:30-11 a.m.
    Location: Appraisal Institute, 205 W. Wacker Drive #202, Chicago, IL
    Attendee Price: $89 | Register Here | includes coffee and breakfast snacks
    Panelists:
    Jessica L. Ryan | Kovitz Shifrin Nesbit | Landlord & Tenant Law Neil H. Dishman | Jackson Lewis P.C. | Workplace Law and Related Litigation Steve Galler | HABITAT Hon. Louis I. Lang | Illinois State Representative-16th District, Deputy Majority Leader

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    UPCOMING COURSE SCHEDULE

    Date Event Location

    Complete Course Calendar
    June 18-19 Leasing Agent Licensing 8:30 a.m.-4 p.m.
    122 S. Michigan Ave., Chicago, IL (National-Louis University)
    To register/more info call: (630) 353-0400
    July 14-18 Certified Apartment Portfolio Supervisor (CAPS) 8:30 a.m.- 4 p.m.
    CAA Office, 557 W. Randolph, Ste 201, Chicago
    $1,250
    Register/more info
    Aug. 12-14 National Apartment Leasing Professional (NALP) 8:30 a.m.-4 p.m.
    CAA Office, 557 W. Randolph, Ste 201, Chicago
    Register/more info
    Sept. 15-19 Certified Apartment Manager (CAM) 8:30 a.m.-4 p.m.
    CAA Office, 557 W. Randolph, Ste 201, Chicago
    Register/more info




    Apartment building foreclosures plunge in Chicago
    Chicago Tribune
    Foreclosure cases were filed against almost 2,800 Chicago apartment buildings with 7,700 units last year, the smallest number since the housing crisis began and a sign of the residential market's stabilization. The more than 30 percent decrease in foreclosures from 2012, along with recent renter protections put in place in the city, is expected to help stem the loss of affordable housing.
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    Why renters are ending up in the suburbs
    CityLab
    Something doesn't quite square up between U.S. housing data and what we know about the changing demographics of U.S. metro areas. As Census Bureau data show, growth in cities is tilting ever so slightly back toward the suburbs. Yet multifamily housing, mostly situated in urban centers, is still driving the American housing market. Are developers out of step with demand?
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    Proposed 4-story apartment building draws complaints
    DNAinfo Chicago
    In Chicago, opponents of a proposed four-story apartment building to be built near Harlem and Waveland avenues, which needs special permission from city officials, is too big for the area and too close to nearby homes. Zitella Development Corp. has asked city officials to cut by half the amount of space it is required to leave between the proposed 30-apartment building and the single-family homes behind it on Oconto Avenue.
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    TRENDING ARTICLES
    Missed last week's issue? See which articles your colleagues read most.

        Downtown apartment market 'on fire' in Q1 (Chicago Real Estate Daily)
    Demand for Chicago multi-family projects not about to slow (REjournals.com)
    State legislation progresses and new Chicago ordinances introduced (CAA)
    Message about permitting from Chicago Building Commissioner (Felicia Davis, Commissioner of the Department of Buildings)
    After nearly 11 years, Trump Tower almost sold out (Crain's Chicago Business)

    Don't be left behind. Click here to see what else you missed.


    Study: Chicago home prices up 20 percent from 1st quarter 2013
    Chicago Tribune
    Single-family homes prices in Cook County posted their biggest year-over-year gain in the first quarter in at least 16 years, led by improvement in some of the Chicago neighborhoods that were hardest hit by the housing crisis. First-quarter home prices rose 20 percent from a year ago within Chicago and about 13 percent within suburban Cook County, according to a county home price index compiled by the Institute for Housing Studies at DePaul University.
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    US apartments in debt deal rent for less
    Financial Times
    Apartments that have been bundled into bonds are renting for significantly less than similar but unsecuritized homes, according to new research from Kroll Bond Rating Agency. Real estate and private equity investors have been buying "single-family" homes on the cheap, pouring an estimated $8 billion into distressed housing over the past few years with the aim of renting the apartments out and securitizing the proceeds.
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    What the foreclosure crisis looks like in urban neighborhoods with few single-family homes
    The Washington Post
    So often when we talk about the foreclosure crisis, we're talking about places like this, or homes like this. We picture zombie subdivisions that were hastily built at the peak of the housing bubble, or single-family homes where the front lawn has long grown over with weeds. But this is not necessarily what the foreclosure crisis has looked like in cities. Take Chicago, a city of spacious but small-scale brick apartment buildings that date to the 1920s and earlier.
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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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