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Chicago Low-Income Housing Trust Fund honors CAA Board Member Holsten
Peter Holsten and his wife Jackie Taylor Holsten were honored with the 2014 Douglas C. Dobmeyer Partnership Award, given by the Chicago Low-Income Trust Fund. "Holsten Management takes over where Development leaves off, successfully operating each project and addressing the day-to-day concerns of their residents, lenders and investors."
Thank you HD Supply!
The CAA Maintenance Mania Committee thanks HD Supply! Every time you made a purchase from HD Supply from May 12-June 13 using source code M4U, you helped us support maintenance education programs for multifamily industry professionals. We are excited to announce that HD Supply has contributed $4,900 to this year's event. The check was presented to CAA EVP Mike Mini from HD Supply District Sales Manager, Jeff Ferreira. For more information, visit http://hdsupplysolutions.com/shop/static--multi_family, and thank you so much for using source code M4U!
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.
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
Less than 3 weeks to Preview
Don't forget to register for our exclusive annual Preview breakfast event before it’s too late! Join us to learn about what’s projected from 2015 from highly anticipated speakers like Jim Glassman of JP Morgan Chase and leaders of the industry on our Owner's Panel. Click here to register online today.
Sponsorships have sold out. Thank you: Apartments.com; Belfor Property Restoration; Bellwether Real Estate Capital, LLC; Berkadia Commercial Mortgage, LLC; Chase-Multifamily Lending; Community Investment Corporation (CIC); CoreLogic SafeRent; CORT; CRG Residential; Law Offices of David K. Barhydt; Lockton Companies, LLC; Ludwig And Company; Magellan Property Management; Pinnacle Family of Companies; realtor.com rentals; Rental Beast; RMK Management; ServiceMaster Restoration by Simons; The Habitat Company; TLC Management Co.; United States Alliance Fire Protection; and Waterton Residential, LLC.
Summer Social fun
Thank you to all 200 members that registered for the September 17th sell out Summer Social at Wrigleyville bar Country Club. Members and non-members alike enjoyed three hours of networking and fun. A special thank you to sponsors Draper & Kramer and Apartments.com who went above and beyond their generous sponsorship and added another layer of fun and festivity to the event. Click here to view pictures from the event.
Welcome new members!
Chicagoland Apartment Association: Education update — fall 2014!
Leasing Agent Licensing
Register/More Info: Here
National Louis University, 122 S. Michigan, Chicago, IL
Dates: Oct. 21 and 22, 2014
Time: 8 a.m.-4:30 p.m.
Football lovers wait all season for the Super Bowl, basketball enthusiasts live for March Madness, and the multi-housing industry’s opportunity for greatness happens at the Chicagoland Apartment Association’s Maintenance Mania. On Thursday, Oct. 30, more than 100 multi-family maintenance technicians come to compete for time in skill-based table games (based on common maintenance activities) including the pinewood derby style car race where the cars are made out of maintenance supplies!
3 hours of Continuing Education Credits (CECs)
Date: Thursday, Oct. 30, 2014
JC Restoration, 3200 Squibb Ave., Rolling Meadows, IL
Education Sessions 9 a.m.-12 p.m.
Competition 1 p.m.-5 p.m.
Cost: Member Ticket: $99/ Non-Member Ticket: $150
Register/More Info: Here
National Apartment Leasing Professional (NALP) – 2014
Leasing professionals are the first people prospective residents meet, and often their only gauge of the property staff.
This course is designed to teach these professionals skills to help them become top producers.
Dates: Nov. 11-13, 2014
CAA Office, 557 W. Randolph Ste 401, Chicago, IL
Register/More Info: Here
Is the US becoming a nation of home renters?
There are more signs of a dramatic shift in America's housing market. A still-struggling economy, coupled with the ongoing effects of the housing mortgage crisis that helped spark the Great Recession, have left many Americans unwilling or unable to purchase a home. According to U.S. census data quoted by RealtyTrac, the number of renters in American homes rose to 34.5 percent in 2011, with close to one-fourth of all U.S. metro regions seeing higher rental rates.
High-end condos point to rebounding market in downtown Chicago
Some downtown rental towers have seen exceptional demand, despite dizzyingly rents. Most of the units are aimed at young professionals who can't or don't want to buy but can afford rents that start at about $2,000 for small units and plush amenities. On the opposite end of the building spectrum are some of the latest crop of condos, large lavishly appointed units with high price tags. They're catering to older, more established consumers who can pay cash or qualify for a mortgage, and are looking to move out of smaller downtown condos or are downsizing from the suburbs and want something new.
CHA vows more disclosure on controversial voucher program
Crain's Chicago Business
The Chicago Housing Authority plans to start issuing new reports about the operations of its voucher program, which faced strong criticism for providing subsidies so that some low-income tenants could live in some of Chicago's more expensive apartment buildings.
The agency plans to release a quarterly report about its voucher program, occupancy rates at its properties, capital expenditures and other information, the CHA announced.
Missed last week's issue? See which articles your colleagues read most.
New ways to profit from renting out single-family homes
The Wall Street Journal
Two-and-a-half years into the U.S. housing recovery, the real-estate industry is rolling out new ways for individuals to invest in the property market. Brokers, property managers and others are helping buyers purchase houses in distant cities and manage them as rentals for a fee. Publicly traded trusts that collect rental income are selling shares to investors. And crowdfunding startups are matching buyers with willing lenders. The latest pitches generally aim to eliminate the day-to-day headaches of being a landlord, and the potential payoff can make the concept worth considering. Investors can buy in for the price of a single-family home or a single share of stock.
Slump in US housing starts led by multifamily
Housing starts slumped in August from the highest level in almost seven years, reflecting a setback in multifamily projects that are at the forefront of the rebound in U.S. real estate. Beginning home construction fell 14.4 percent, the most since April 2013, to a 956,000 annualized rate following July's revised 1.12 million pace that was the strongest since November 2007, the Commerce Department said.
Is multifamily housing the next lending bubble?
The apartment industry is riding high these days. Sales volumes are at peak levels. Prices have jumped to all-time highs. Capitalization rates have dropped to long-time lows. And buoyed by strong demand and easily accessible funding, apartment construction has surged to the highest levels since the 1980s. All these high-water marks suggest an obvious question: Is multifamily housing reaching a bubble?
CAA In Focus
Colby Horton, Vice President of Publishing, 469.420.2601
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Esther Cho, Content Editor, 469.420.2671
Chicagoland Apartment Association
557 W. Randolph St. #201 Chicago, 60661
Phone: 312-207-1890/Fax: 312-207-1890
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Sept. 9, 2014
Aug. 26, 2014 - correction
Aug. 26, 2014
Aug. 12, 2014
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063