"You've Caught the NET!"

head_left_image

Chicago and Illinois Condo Owners Face New Rules in New Year!

Happy Monday, everyone.  Enjoy the last day of 2007!

Here in Chicago, and in Illinois, condo owners will face several new rules in 2008.  One, in particular, will save condo owners and associations in the City of Chicago, considerable money.  Here are a few of the changes.  Also see our post today on BlogChicagoHomes.com, as well as Pamela Dittmer McKuen's article in the December 27th edition of the Chicago Tribune.

 1.  The Chicago City Council has approved a measure to lengthen the inspection times for the facades of buildings in the city more than 80 feet high.  Complete facade inspections need now only be done every eight years, instead of every four, and the inspections will be less invasive.  These inspections assure buildings will be safe, but are very costly to the associations involved - often requiring steep assessment increases, or special assessments.

2.  All elevators in the State of Illinois must now be registered with the Office of the State Fire Marshall (Chicago is exempt, as they already require elevator registration with the city).  Mechanical work cannot be performed without registration - $30 per elevator.

3.  The City of Chicago Department of Environment is now offering grants - up to $6,000 - toward installation of more energy efficient green or cool roofing surfaces.

4.  Condo Associations in the Chicago Area will be getting better electrical rates from Commonwealth Edison.  When rates were increased across-the-board in early 2007, associations were assessed a far-higher commercial rate for service to their hallways and common areas.  After much legal wrangling, the Condo Associations prevailed - Com Ed must now assess the lower average residential rates in residential buildings.

5.  The Illinois Condominium Act has been amended to establish minimum professional standards for property managers of residential buildings.  Managers cannot have been previously convicted of felonious embezzlement, conspiracy to default, or forgery charges, and must possess a good working knowledge of residential property management.

Enjoy your New Year's Celebrations, Safely, Tonight!

DEAN & DEAN'S TEAM CHICAGO

 

 

Comment balloon 0 commentsDean Moss • December 31 2007 11:52AM
Chicago and Illinois Condo Owners Face New Rules in New Year!
share
Happy Monday, everyone. Enjoy the last day of 2007! Here in Chicago, and in Illinois, condo owners will face several new rules in 2008. One, in particular, will save condo owners and associations in the City of Chicago, considerable money. Here… more
THE CAR YOU DRIVE, PART II. Thanks for all your comments and thoughts!
share
Hey, everyone - Our Team in Chicago is just BLOWN AWAY by the volume of comments on this very hot topic of how the car you drive affects the perceptions of your clients, and those on your staff. (See our original Blog article here ) Our earlier… more
PMI Deduction Extended - Silver Lining for Many Highly-Leveraged…
share
Hey, gang - we're stockpiling Champagne for the big celebration Monday night! The news isn't all bad for highly-leveraged borrowers in today's housing market - in Chicago and elsewhere. Congress this week extended, through 2010, the Income Tax… more
The CAR YOU DRIVE! Realtors, Honestly, What Statement Does it Need to…
share
Hope you're enjoying your last weekend of 2007, everyone! Got a crazy question for you, and need your most honest opinion here. How important is it to impress your clients, your staff, and other Realtors you work with, with the car you drive? Now,… more
ONE YEAR ANNIVERSARY AT KELLER WILLIAMS - A Smart Move for Our Team!
share
Just checking our records, folks - December 29th is our One Year Anniversary at KW. It's been a full year since Dean's Team Chicago joined Keller Williams Fox Realty, in the Lincoln Square Neighborhood on the North Side of Chicago, and the KW… more
Lil' Buddy's Blog - Illinois Goes Smoke Free January 1, 2008
share
NO SMOKING IN VIRTUALLY EVERY PUBLIC LOCATION EFFECTIVE TUESDAY, JANUARY 1 Being a confirmed non-smoker himself, Buddy Holly Moss applauds the coming smoking ban throughout Illinois and all across Chicago. He told us, in an exclusive interview, he… more
Chicago Better Off Than Many Metros in Home Price Decline
share
Spotted in article this morning in the Chicago Tribune, written by Susan Diesenhouse - while the U. S., as a whole, has suffered a 6. 7% average decline in resale prices between October, 2006 and October, 2007 resale prices here in the Chicago Area.. more
WANTED: Accountability Partner!
share
Geez - what day is it today? Wednesday? Thursday/ Man, these holidays really screw up us old-timers orientation! Well, today is our Annual Goals Declaration Meeting for Dean's Team here on the North Side of Chicago! Afterward, we all go out for… more
Chicago to Bring "Eco-Friendly" to it's Alleys!
share
To those of you just waking up after a long Christmas celebration yesterday - GOOD MORNING! Green Alleys! No, this is not another Chicago publicity thing to draw attention - we DO dye the Chicago River BRIGHT GREEN for St. Patrick's Day every year… more
Here Comes 2008! Do You Know Where Your GOALS Are?
share
What an incredible Christmas, although I ate way too much Prime Rib yesterday! As a fish-and-fowl guy most of the time, yesterday's meal is still digesting! Hopefully, by the New Year! When I was a little kid, growing up in the West Rogers Park… more