Author: realestatenate1

Though the Jackson Park pilot program passed over our objections, the NBOA and its industry partners successfully convinced the aldermen to hold hearings on the impact of these Right of First Refusal programs on homeowners, housing providers, and tenants. These hearings will provide an opportunity to highlight the many flaws in the ordinances, hopefully leading to necessary reforms or their outright repeal. We expect that the first hearing will occur in mid to late October.

1. Organizations representing title companies.
2. Organizations representing real estate agents and professionals.
3. Organizations representing property owners and housing providers.
4. Organizations representing tenant right groups and tenant unions; and
5. Organizations representing buyers and sellers of real estate impacted by these types of tenant right of first refusal pilot programs.

We are specifically seeking testimony from property owners who have been impacted by these Right of First Refusal ordinances. If you have experienced a canceled transaction or a loss of equity due to these programs, we encourage you to come forward. We are looking for evidence to demonstrate that the tenant right of first refusal programs are failed policies that require amendment or repeal. Click HERE to share your story – we will keep your identify and information confidential until and unless we receive your approval to use it. (Alternatively, you can send us your story via EMAIL.)

When City policymakers do not engage with housing providers, it leads to flawed housing policy. Conversely, involving housing providers in their deliberations can result in better housing policy for our communities.

We look forward to a productive dialogue with all parties involved and to fostering a healthier environment for neighborhood housing.

Sincerely,

Michael Glasser

NBOA President

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

The measure applies to a specific geographic area in South Shore and in Woodlawn, as shown on this map.

We will continue to update you as we and our industry partners strive to achieve the best outcome, and reach out to you for assistance as needed. Thanks to all of you who responded to our Call to Action late in the day yesterday.

Michael Glasser

NBOA President

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

We need you to act right away. The Housing Committee of Chicago’s City Council is scheduled to vote on an ordinance that would give residents in the 5th Ward a right of first refusal. But it goes far beyond that and includes a Just Cause Eviction provision, requires thousands of dollars in relocation assistance for tenants whose leases are not renewed, and expanded notice requirements. 

Jackson Park Housing Pilot Ordinance

Details of the proposed 27 page ordinance were not made public until late in the afternoon on the day before the vote —on a Jewish high holiday when many people are not working.

The Committee is scheduled to meet tomorrow (Wednesday September 24) at 11 am, and Ald. Yancy says he will be pushing for a vote on the ordinance at that meeting. This means the ordinance could be considered by the City Council as soon as Thursday September 25, when it is scheduled to meet—less than two (2) days from today.

CLICK BELOW to urge the members of the Housing Committee to delay a vote on this complex far-reaching measure until we examine the ordinance and fully understand its implications. Please edit the letter to make it your own! (Perhaps ask if they agree that its bad government to hurriedly push through a consequential ordinance without first providing sufficient notice to important stakeholders.)

This proposed ordinance should be of immense concern to all housing providers and other real estate professionals throughout Chicago.

Please act now. Members of the committee need to hear from you by tomorrow morning.

Your call to action will go to all 19 members of the City Council Housing Committee, chaired by Alderman Byron Sigcho-Lopez.

We appreciate your support.

Michael Glasser

NBOA President

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

on Neighborhood Multifamily

President

Celadon Partners

Panelist

Senior Vice President

Northern Trust

Panelist

Sr. Account Manager

CSSI

Panelist

Please join us at noon today for an engaging panel discussion on the “Big Beautiful Tax Bill” and its far-reaching effects on the multifamily housing industry in the Chicago area.

This timely conversation, moderated by The Daily Line’s Don Vincent, brings together industry experts and leaders to discuss what this legislation means for property owners, investors, and the future of multifamily housing in and around Cook County. Panelists John Chang and Brian Bianchi will highlight the various aspects of the bill. Scott Henry will discuss how the bill will impact construction of affordable housing and Kevin Cawley will emphasize the significance of the return of one hundred perccen bonus depreciation and its amplifying effect on cost segregation studies.

We encourage you to attend and learn how these changes may affect your properties and long-term business strategy.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

on Neighborhood Multifamily

President

Celadon Partners

Panelist

Senior Vice President

Northern Trust

Panelist

Sr. Account Manager

CSSI

Panelist

Please join us at noon today for an engaging panel discussion on the “Big Beautiful Tax Bill” and its far-reaching effects on the multifamily housing industry in the Chicago area.

This timely conversation, moderated by The Daily Line’s Don Vincent, brings together industry experts and leaders to discuss what this legislation means for property owners, investors, and the future of multifamily housing in and around Cook County. Panelists John Chang and Brian Bianchi will highlight the various aspects of the bill. Scott Henry will discuss how the bill will impact construction of affordable housing and Kevin Cawley will emphasize the significance of the return of one hundred perccen bonus depreciation and its amplifying effect on cost segregation studies.

We encourage you to attend and learn how these changes may affect your properties and long-term business strategy.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

on Neighborhood Multifamily

President

Celadon Partners

Panelist

Senior Vice President

Northern Trust

Panelist

Sr. Account Manager

CSSI

Panelist

Please join us tomorrow (Tuesday( for an engaging panel discussion on the “Big Beautiful Tax Bill” and its far-reaching effects on the multifamily housing industry in the Chicago area.

This timely conversation, moderated by The Daily Line’s Don Vincent, brings together industry experts and leaders to discuss what this legislation means for property owners, investors, and the future of multifamily housing in and around Cook County. Panelists John Chang and Brian Bianchi will highlight the various aspects of the bill. Scott Henry will discuss how the bill will impact construction of affordable housing and Kevin Cawley will emphasize the significance of the return of one hundred perccen bonus depreciation and its amplifying effect on cost segregation studies.

We encourage you to attend and learn how these changes may affect your properties and long-term business strategy.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

on Neighborhood Multifamily

President

Celadon Partners

Panelist

Senior Vice President

Northern Trust

Panelist

Sr. Account Manager

CSSI

Panelist

Please join us for an engaging panel discussion on the “Big Beautiful Tax Bill” and its far-reaching effects on the multifamily housing industry in the Chicago area.

This timely conversation, moderated by The Daily Line’s Don Vincent, brings together industry experts and leaders to discuss what this legislation means for property owners, investors, and the future of multifamily housing in and around Cook County. Panelists John Chang and Brian Bianchi will highlight the various aspects of the bill. Scott Henry will discuss how the bill will impact construction of affordable housing and Kevin Cawley will emphasize the significance of the return of one hundred perccen bonus depreciation and its amplifying effect on cost segregation studies.

We encourage you to attend and learn how these changes may affect your properties and long-term business strategy.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

on Neighborhood Multifamily

President

Celadon Partners

Panelist

Senior Vice President

Northern Trust

Panelist

Sr. Account Manager

CSSI

Panelist

Please join us for an engaging panel discussion on the “Big Beautiful Tax Bill” and its far-reaching effects on the multifamily housing industry in the Chicago area.

This timely conversation, moderated by The Daily Line’s Don Vincent, brings together industry experts and leaders to discuss what this legislation means for property owners, investors, and the future of multifamily housing in and around Cook County. Panelists John Chang and Brian Bianchi will highlight the various aspects of the bill. Scott Henry will discuss how the bill will impact construction of affordable housing and Kevin Cawley will emphasize the significance of the return of one hundred perccen bonus depreciation and its amplifying effect on cost segregation studies.

We encourage you to attend and learn how these changes may affect your properties and long-term business strategy.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

on Neighborhood Multifamily

President

Celadon Partners

Panelist

Senior Vice President

Northern Trust

Panelist

Sr. Account Manager

CSSI

Panelist

Please join us for an engaging panel discussion on the “Big Beautiful Tax Bill” and its far-reaching effects on the multifamily housing industry in the Chicago area.

This timely conversation, moderated by The Daily Line’s Don Vincent, brings together industry experts and leaders to discuss what this legislation means for property owners, investors, and the future of multifamily housing in and around Cook County. Panelists John Chang and Brian Bianchi will highlight the various aspects of the bill. Scott Henry will discuss how the bill will impact construction of affordable housing and Kevin Cawley will emphasize the significance of the return of one hundred perccen bonus depreciation and its amplifying effect on cost segregation studies.

We encourage you to attend and learn how these changes may affect your properties and long-term business strategy.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.

The event was a wonderful opportunity to learn new things, make new friends, and reconnect with old ones. It truly showcased how much we care about our work and each other. As we face the challenges of providing clean, safe, and affordable housing for residents throughout Chicagoland, your support of the Soiree helps ensure that the NBOA can continue to advocate for you and the people we serve.

Thank you for joining us.

Sincerely,

Michael Glasser

President

Neighborhood Building Owners Alliance

Michael Slater

Chairman

NBOA Summer Soiree Event Committee

We were excited to announce at the Soiree our newest affiliate, the North Suburban Housing Providers. It is a group of owners and real estate professionals active in the Evanston and north suburban market, and it’s NBOA’s twelfth affiliate!

If you want to learn more, please reach out via this email.

In case you missed it, we want to bring your attention to an important article from the Chicago Tribuneregarding the Northwest Side Housing Preservation Ordinance, which grants tenants in rental properties near the 606 trail the right of first refusal to match legitimate purchase offers. This front-page story highlighted that Aldermen Gil Villegas and Felix Cardona withdrew their wards from the pilot area due to concerns about the ordinance’s negative impact on long-time “mom and pop” owners.

This is the latest instance where local news media has sought NBOA’s perspective on issues facing small and mid-sized housing providers.

You can read the full article below.

In his piece, Miguel discussed the lack of new residential development in Chicago, attributing it to “an overbearing bureaucracy and a political culture that consistently obstructs new residential development.”



You can read the full op-ed below.



Thank you for your continued support.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers (SWHP)

West Suburban Building Owners Association (WSBOA)