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IN THIS ISSUE

CAA News
  • New 'ice breaker' NYKO sponsorship still available
  • Trade Show & Education Conference 2015 booth sales
  • Welcome new members


  • Education In Focus
  • Education


  • Industry News
  • Suburban apartment occupancies hit highest level since 2007
  • Illinois passes ban-the-box legislation limiting employers' criminal background checks on applicants
  • NAR: A 'landlord's market' expected for 2015, 2016
  • Report: Renter satisfaction continues upward trend
  • Downtown apartment market cools off
  • Rental apartment construction is at a 27-year high
  • Streeterville apartments to fetch $74 million







  • New 'ice breaker' NYKO sponsorship still available
    CAA









    Networking in a room of 300+ people can sometimes feel overwhelming. The NYKO committee came up with the "50/50 Raffle" sponsorship to help address this. The sponsorship provides the opportunity for the sponsoring companies to sell tickets at the event, giving sponsors a conversation starter with attendees. Click here for NYKO sponsorship information and here to register to attend and/or sponsor NYKO.

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      FEATURED COMPANIES
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    Trade Show & Education Conference 2015 booth sales
    CAA
    Booths will go on sale for the April 14, 2015 show on Wednesday, Dec. 10 at 10 a.m. CST for returning 2014 exhibitors (only) and Wednesday, Jan. 21 at 10 a.m. CST for all other CAA associate members. Click on the Trade Show & Education Conference (TSEC) event page for additional show details, including a copy of the 2015 Exhibitor Information & Contract packet, which lists the three steps for registering along with sponsorship details.
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    Welcome new members!

    Associate Members
    Aire-Master of Chicago
    Fisk, Kart, Katz, Regan & Levy, Ltd.

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    Education
    CAA


    CAPS (Certified Apartment Portfolio Supervisor) Designation scheduled for February 2015






    Strengthen Your Front Line to Increase Your Bottom Line

    If you manage multiple apartment communities or you are an experienced apartment manager with a CAM, ARM or RAM designation, earning your Certified Apartment Portfolio Supervisor (CAPS) designation is your next step to advancing.
    Complete Course Details

    Dec. 10-11, 2014
    8:30 a.m.-4 p.m.
    Leasing Agent Licensing
    Register/More Info: Here
    National Louis University| 122 S. Michigan | Chicago, IL

    Jan. 14-15, 2015
    8:30 a.m.-4 p.m.
    Illinois Broker Management (BME 1802)
    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

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    Suburban apartment occupancies hit highest level since 2007
    Crain's Chicago Business
    Suburban apartment buildings are the fullest they've been in seven years as strong demand for rental housing shows few signs of waning. The suburban occupancy rate rose to 95.9 percent in the third quarter, up from 95.2 percent a year earlier and the highest level since 2007, according to a survey by Appraisal Research Counselors, a Chicago-based consulting firm. The median suburban net rent rose to $1.27 per square foot, an all-time high and up 3.1 percent from third-quarter 2013.
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    Illinois passes ban-the-box legislation limiting employers' criminal background checks on applicants
    Jackson Lewis
    The "Job Opportunities for Qualified Applicants Act" (House Bill 5701), signed by Governor Pat Quinn on July 19, 2014, prohibits employers, or any agent of an employer, from considering or inquiring into a job applicant's criminal record or history until the individual has been determined qualified for the position and notified of an impending interview, or, if the applicant will not be interviewed, until after a conditional offer of employment is made. The Act explicitly excludes three categories of job applicants from this restriction. Applicants for all other positions will be entitled to the protections of the Act.
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    NAR: A 'landlord's market' expected for 2015, 2016
    MarketWatch
    The vacancy rate for apartment rentals is expected to head higher in a year, but conditions in the U.S. will still be considered a "landlord's market," according to data released. This quarter's 4 percent vacancy rate for apartment rentals is likely to rise to 4.3 percent by the end of 2015, the National Association of Realtors reported.
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    TRENDING ARTICLES
    Missed last week's issue? See which articles your colleagues read most.

        City Council approves ordinance to strengthen law, encourage landlords to install smoke, carbon monoxide detectors (Chicago Mayor's Office)
    Don't be conned by tenants who always have a story (Real Estate Weekly)
    Why more people are renting their pieds-a-terre (Crain's Chicago Business)
    Study: Landlords on South, West sides can't get loans (Crain's Chicago Business)

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


    Report: Renter satisfaction continues upward trend
    MultifamilyBiz.com
    According to Kingsley Associates' latest analysis, 76.4 percent of apartment renters rated their overall satisfaction as "good" or "excellent" for the 12-month period ending Sept. 30. Conversely, renewal intent has continued to decline now for the past two quarters and has reached another all-time low.
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    Downtown apartment market cools off
    Crain's Chicago Business
    After flying high in the first half of the year, the downtown apartment market has lost some altitude in the second. Leasing activity fell more than expected in the third quarter, dragging down rents and occupancies at downtown buildings, according to a report from Appraisal Research Counselors, a Chicago-based consulting firm. Absorption — a key metric that represents the change in the number of leased apartments — totaled 129 units, down from more than 1,000 in each of the two previous quarters.
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    Miss an issue of CAA In Focus? Click here to visit the CAA In Focus archive page.


    Rental apartment construction is at a 27-year high
    The Wall Street Journal
    New figures offer the latest reminder of an apartment boom. Housing starts fell in October because of a 15.5 percent drop in the multifamily sector, which is notoriously volatile. But the broader picture shows that apartments have been on a tear this year. Construction of multifamily housing units — those with five units or more — is running at its strongest 12-month pace since 1989. Moreover, the share of those units being constructed as rentals is at its highest since record-keeping began in 1974. More than 93 percent of units in buildings with at least two units are being constructed as rentals.
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    Streeterville apartments to fetch $74 million
    Crain's Chicago Business
    A Chicago landlord is selling a vintage downtown apartment building for $74 million, more than twice what it paid for the property in 2012. Waterton Associates LLC is selling the Seneca, a 254-unit building in Streeterville, to Emmes Asset Management, a New York-based real estate investor, according to an Emmes representative.
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    CAA In Focus
    Colby Horton, Vice President of Publishing, 469.420.2601
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