The NBOA opposes the proposed “Bring Chicago Home” tax increase.

This measure will increase the tax on property transactions from 0.75% to a new tiered system, with a 2% tax on the amount of a sale greater than $1 million, and a 3% tax on the amount of a sale greater than $1.5 million.

The NBOA has looked at dozens of apartment buildings across the city and found that the small and mid-sized buildings which neighborhood housing providers own and manage are likely to face the choice of losing value if they sell their building or raising taxes—often as much as $100 a month—to recoup that tax penalty.

Learn more about the proposed ordinance, and its impact on Chicago’s struggling downtown, rents, property taxes, and the health of Chicago’s economy: read our white paper on the subject, and register to join us for a Zoom call with top experts (Tuesday September 26, 2023 at noon).

Neighborhood housing depends on neighborhood housing providers.

Housing policy only works with the involvement of housing providers.

The Neighborhood Building Owners Alliance (NBOA) is the voice of neighborhood housing in Chicago. It represents Chicago’s small and mid-sized housing providers, most of whom live, hire and buy supplies in the communities they serve.

500+

Members

6,000+

Buildings owned or managed

180,000+

Apartment units under ownership or management

The NBOA serves the members of its nine community building owner affiliates. Like those affiliates, the NBOA is a forum for information, professional development and networking.

In addition, the NBOA advocates on behalf of small and mid-sized housing providers. Its team of professionals works to tell the story of neighborhood housing in the media, and to lobby public officials to ensure housing providers are part of housing policy.

Hot News

9/14/2023
NBOA speaks out on proposed Title Transfer Tax increase

The NBOA was prominently featured in the September 14, 2023 Chicago Tribune story about the proposed Title Transfer Tax increase.

Miguel Chacon, a landlord and real estate broker for small-to-midsize property owners in Pilsen, called the ordinance “terrible” and said “it will hurt renters more than anyone else,” as property owners will have to pass on added costs to tenants.

“I don’t understand how politicians think this is a good idea,” said Chacon, who is also a member of the Neighborhood Building Owners Alliance. “It just goes to the opposite of trying to avoid homelessness when you’re raising the rents for all renters across the city.”

Advocacy

Now, more than ever, it’s important for all voices to be heard. We work with our members to understand all points of view and educate city officials on our discoveries and perspectives.

Educational Opportunities

We find opportunities to gather owners, developers and their potential counterparts to keep them abreast of new legislation, trends. and partnerships on the horizon.

Strategy & Planning

Rather than working on an individual basis or in small groups, we gather information from all our partners to build strategic positions that mitigate ineffective rules & regulations.

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