Committee News

NICAR’s goals are to keep members informed of legislative issues and resources affecting commercial real estate and to work with State Legislators and the Illinois Association of Realtors to closely monitor legislation, which affects commercial real estate.

 

Call to Action

Market Update March 1, 2021

The downtown Chicago market “has been significantly impacted by demand shifts resulting from the coronavirus pandemic,” . “The combination of falling demand and rising supply has pushed vacancy to a record-high 17.7%. That’s led to a near 11% plunge in effective rents...

Market Update February 8, 2021

Multifamily - eviction moratorium extended till March 31st, rental relief for tenants expected. Over the past 2 weeks, I've had the opportunity to listen to 3 different economists, including KC Conway, CCIM's chief economist. The overarching element of his...

Market Update January 18, 2021

Illinois Eviction Moratorium Extended to February 2021 for Renters. Landlords must provide a Declaration form to the resident or tenant at least five days prior to the notice of termination of tenancy. If the tenant can establish that he/she/they meet all four...

Market Update December 21, 2020

I am seeing tenants who are not suffering at all during the pandemic submit LOIs at a discounted rate - and my client (the landlord) is letting them walk. Also, learning how to use MySocial on CRECO.ai to auto-post properties on a rotation on social media pages -...

Market Update December 7, 2020

Problematic CRE returning - CMBS cumulative loan default rate for fixed-rate CMBS recently increased to 16.5% nearing the prior peak of 16.8% recorded in 2013. Hotels and retail are almost 30% by themselves. Is this a case of one person's troubles are another person's...