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NAA Capital Update
Greg Brown, Senior VP Government Affairs
This month, I'm going to step outside of the Capitol beltway for a few paragraphs. As you know, tracking, analyzing and reporting on state and local policy trends are some of the central functions within NAA Government Affairs. Though this column predominantly focuses on federal updates, periodically it's important to change the focus to something a little closer to home for many of you.
Housing Authority of Cook Country (HACC) — Source of Income/protected class FAQs
The Illinois Association of Realtors has prepared Frequently Asked Questions specific to the Source of Income (Housing Choice Voucher) as a protected class. The FAQs are well written and very informative.
The Ordinance Amendment was passed May 8, 2013, so effective date was Aug. 6, 2013. CAA is still trying to verify date signed by board president.
CAA continues to meet with HACC to schedule training for our members. We'll keep our members advised on our progress
Bubble trouble? — yes or no — register now!
Preview 2014 — Apartment Industry Forecast Breakfast
Oct. 11 at the Union League Club
Hear what local and national apartment industry experts have to say about current market and economic trends. Preview 2014 Owner Panel includes:
Milton Pinsky, CEO, Banner Apartments
Bill Maddux, COO, Greystar Real Estate Partners
Dan McCaffery, Chairman and CEO, McCaffery Interests
Tony Rossi Sr, President, RMK
Stuart Handler, CEO, TLC Management
Alby Gallun, Moderator, Senior Reporter Crain's
New this year — Greg Lozinak, COO Waterton Residential, Legislative Impact Update
Register now, online or download form. Member cost $130 per attendee. Click here.
Sponsorship also available online or download form. Member cost $650. Click here.
CAMME Sponsorships Now Available
Visit the CAMME page of the CAA website to view the limited sponsorships and to register for this sell-out event.
Final weeks to register for Apartment All Stars Leasing Seminar
For the first time in several years, this unique blend of national speaker's returns to Chicago for an innovative and motivating leasing seminar to help you get ahead of leasing trends to compete in today's rental market. Join us Sept. 25 at U.S. Cellular Field Conference Center (free parking) and stay in the game!
Leasing professionals: Get your National Designation!
Enhance your professional growth in the apartment industry, and take your career to the next level. Designation training helps you manage your apartment community and your team more effectively.
Fair Housing FAQs — are you in compliance?
Don't miss our final Fair Housing trainings of 2013!
Maintenance professionals get educated
CAA hosted more than 20 maintenance professionals for the CAMT (Certificate for Apartment Maintenance Technicians) designation this summer. So much energy and experience in that room! Thank you to our generous sponsors: HD Supply and Multi-Family Comprehensive Energy Efficiency Program. Hope to see all of you at Maintenance Mania in November!
||Complete Course Calendar
|Registration now open!
||2013 Maintenance Mania
Sponsorships are available!
||CAM/CAS Complete Class - Certified Apartment Supplier
||Live class — Chicago
||U.S. Cellular Field Conference Center, 333 W. 35th, Chicago (free parking)
|Oct. 8 & 9
||National Apartment Leasing Professional (NALP)
||9 a.m.- 4 p.m. CAA Office - 557 W. Randolph St., Suite 201, Chicago
|| Fair Housing
||9 a.m. CAA Office - 557 W. Randolph St., Suite 201, Chicago
|| Bed Bug Essentials
||Chicago Education & Conference Center, 205 W. Wacker, Chicago (Appraisal Institute)
||Maintenance Mania Competition & Education Conference
|| 8:30 a.m. - 5 p.m. JC Restoration, 3200 Squibb Ave. Rolling Meadows, Ill.
Apartment outlook brightens for Chicago renters
Less than a month before moving, first-time renters Esther Levine and two friends toured four three-bedroom apartments on a Saturday morning and found two places they loved.
The friends settled on the apartment that's within their budget and close to public transportation and a park. "It is a little less than what each of us had agreed to pay (in rent), so we are saving some money," said Levine, 23, a project director for a market research company. Levine and her friends are among many renters witnessing a transformation in the Chicago-area rental market.
Apartment and condo market index hits highest reading since 2003
Production of apartments and condominiums gained momentum in the second quarter of 2013, according to the latest Multifamily Production Index, released by the National Association of Home Builders. The index increased nine points to 61, which is the highest reading since its inception in 2003.
Apartments planned for shuttered Lincoln Park elementary school
Crain's Chicago Business
As Chicago Public Schools figures out what to do with the nearly 50 schools it just closed, the district is busy selling off other properties, including some that have sat empty for years.
An affiliate of Buffalo Grove-based Svigos Development Inc. paid $4 million for the former Mulligan Elementary School in Lincoln Park, with plans to convert the dilapidated building at 1855 N. Sheffield Ave. into 24 apartments, including a large 3,000-square-foot unit in the school's gymnasium.
A 13th-floor condo? No such luck
The Wall Street Journal
When construction is complete on 56 Leonard Street, a 60-story skyscraper in Manhattan's TriBeCa neighborhood, amenities will include an indoor/outdoor theater, 75-foot lap pool, library lounge and private dining salon. What it won't have: a 13th floor.
"I'm not particularly superstitious myself, but not having a 13th floor is a no-brainer," says Izak Senbahar, the building's developer and president of Alexico Group. "You don't want to preclude anyone, a buyer who happens to be superstitious. It boils down to that."
Glenview's downtown to soon see construction on major projects
Glenview's downtown will be buzzing with construction as several major projects break ground in the near future.
Known for its quietness and some vacant storefronts over the past couple of years, the downtown has been the center of the village's revitalization efforts since a master plan was approved in 2006.
Multifamily delinquency rate decline implies strong market
Multifamily mortgage delinquency rates dropped in the second quarter of 2013, according to a report from the Mortgage Bankers Association, further indication that the multifamily market is picking up alongside the recovery in housing. Commercial loans overall saw a decline as well.
Missed last week's issue? See which articles your colleagues read most.
CAA In Focus
Colby Horton, Vice President of Publishing, 469.420.2601
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Ashley Whipple, Senior Content Editor, 469.420.2642
Chicagoland Apartment Association
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