Over 70 NBOA members and colleagues joined a 3/6/23 Zoom call where we received an update on pending legislation that could usher in rent control in Illinois. Illinois Realtors Senior Advisor for Governmental Affairs Betsy…
For the past three weeks, the NBOA team has been working with the Chicago Tribune's commercial real estate reporter on a story regarding the new Property Tax Incentive Program. You can read the full story…
KEY FINDINGS Operating expenses are rising faster than rent increases. Half of respondents experienced utility, labor, and property tax increases of more than 10% (48%, 49% and 52% respectively), and many of them experienced increases…
NBOA has only enough money in its bank account to to see us through for the next month and a half. Unless NBOA can generate an influx of revenue, we will be required to make some really…
KEY FINDINGS There has been a slight, continued improvement in stabilized December rent collections (i.e., collections above 95%). More than half (58%) of respondents indicated they have received greater than 95% of collections (a level…
KEY FINDINGS There has been a marked improvement in stabilized September rent collections (i.e., collections above 95%). More than half (55%) of respondents indicated they have received greater than 95% of collections (a level considered…
KEY FINDINGS There has been little improvement in stabilized June rent collections (i.e., collections above 95%). Only half (49%) of respondents indicated they have received greater than 95% of collections (a level considered stable by…
Key Findings Based on responses to the survey, Chicago housing providers are facing more than $1.1 billion in rental payment arrearages, or approximately 9% of their annual rental income, much of which may not be recoverable.…
Key Findings As the economic fallout from the COVID-19 pandemic continues, Chicago’s neighborhood housing industry is at risk due to growing shortfalls in rent. Absent effective and prompt federal rental assistance, the percentage of tenants…