August 2015, Vol 5, No 8
Visit our archives to see other articles that were published in 2015.
- 8.30.15 Loop leads downtown condo comeback In the rebounding downtown condo market, units in the Loop are selling for more than they did before crash. [Crain's Chicago Business]
- 8.24.15 Association practices and policies that hamper condo sales The summer has been running hot for Chicago's condominium market. In June, the average time from listing to contract was 61 days, according to Lisle-based Midwest Real Estate Data. [Chicago Tribune]
- 8.14.15 Condo are selling super fast this summer In June, condos in the city sold in an average of 61 days, the fastest since at least January 2007, the earliest date available from Midwest Real Estate Data. [Crain's Chicago Business]
- 8.7.15 Condo associations grappling with short-term rentals After Kevin Marvinac enrolled in graduate school and his girlfriend joined a nonprofit organization, money was tight. So they listed the second bedroom in their North Side condominium as a short-term rental on the home-sharing website Airbnb.com. [Chicago Tribune]
- More News...
From equipment failure and personal injuries to tornadoes and tropical storms, disasters happen, and any condominium association worth its salt knows that it needs to be prepared for a rainy day. And a great chunk of said preparation consists of insurance.Read More
In a city like Chicago, where even the most profligate among us may shed a tear or two at hotel room prices, the homesharing trend has grown by leaps and bounds, with more co-op and condo owners than ever renting out their units to short-stay vacationers—and pocketing more than a few extra bucks in the process.Read More
Sometimes insurance and the terms that accompany it can feel like a completely foreign language. It can be mystifying and overwhelming, whether for individual condo residents or the board members who oversee the community as a whole.Read More
Boards and associations, just like individuals, carry insurance coverage to protect them from liability, loss and other financial and legal problems, although the issues may be a little different than the typical auto or single-family homeowners’ insurance. However, when, and if, to file a claim versus paying out of pocket is always not easy to determine.Read More