‘Crisis mode’: Housing providers are being squeezed by rising insurance costs, driving rents up. Unlike other states, Illinois can do little about it.

This front-page story in the Chicago Tribune highlighted two of the NBOA’s leading advocates: Miguel Chacon and Corey Oliver. Key passages inlude:

Miguel Chacon, a housing provider in Pilsen and a real estate broker, said that last year, for the first time in his 20 years as a building owner, he made an insurance claim on one of his properties. The insurance provider dropped the policy when it came time to renew, Chacon said.

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Some Illinois owners are already being forced to sell their properties because of rising costs such as insurance, said Oliver, of Strength in Management.

“We’re losing local Chicago operators, and we’re losing minority owners who can no longer own and operate buildings in their own communities because of these crazy, unsubstantiated cost increases,” Oliver said.