When industry publication The Real Deal wanted to learn more about Chicago’s proposed Title Transfer Tax, it reached out to the NBOA as a well-established source of insight. The NBOA’s media consultant connected the reporter to long-time industry leader Michael Chioros, who was prominently featured in the story.
The RealDeal, April 19, 2023.
Johnson’s transfer tax: Industry weighs in on mayor-elect’s proposal to more than triple city’s take on $1M-plus property sales The proposal, if passed into law, will almost certainly impact smaller business owners, landlords and, over the long term, renters, according to Michael Chioros of the industry group Neighborhood Building Owners Alliance. “Some people think landlords pocket 100 percent of the rent, the reality is we’re lucky if we get 5 or 6 percent of that at the end of the year,” he said. “It’s the same thing with a sale. It’s not this big pot of gold that someone’s getting.”