What is Syndication?

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Simply put, a syndicated real estate deal pairs a sponsor – the ‘syndicator’ – with a group of investors who have pooled their money for the sole purpose of buying real estate. The investors come to the table with money, while the sponsor comes to the table with the project (proposed land, building, concept etc.),… Read more »

Should Your Association Update Its Declarations?

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If your Condominium Association is considering whether or not it’s time to update its Declarations and Bylaws, you should be aware of some recent updates in Illinois law. Associations interested in preventing the rental of units on short-term platforms such as Airbnb and VRBO should review the Declaration language regarding short-term rentals. Most will refer… Read more »

Important New Restrictions for Suburban Landlords

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Suburban Landlor restrictions

The new “Cook County Residential Tenant and Landlord Ordinance” creates hidden pitfalls that all existing landlords, as well as purchasers of multi-units in Cook County (except for Chicago, Evanston and other municipalities with home-rule landlord tenant ordinances), would do well to learn and avoid.

What Should I Know About Earnest Money?

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What do I need to know about Earnest money?

  If it looks like your client is headed toward litigation over earnest money from a failed deal, understanding the principles of earnest money litigation is key to obtaining the best outcome. When it comes to earnest money, there are two major common misconceptions. Some people think that, if one party defaults, the other party… Read more »

How will the New Eviction Ordinances Affect You?

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While at a standstill, evictions in Chicago have become overwhelmingly complicated. And with these new ordinances and, presumably, more changes ahead, it is essential to stay focused and informed. For more than 25 years, Erwin Law has been helping landlords stay up to date, avoid costly mistakes, delays and penalties, and protect their investments. For thoughtful guidance and counsel during these tumultuous times, call us at 773-525-0153.

Is Mortgage Forbearance A Good Option For Me?

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  Post-Shelter-In-Place: A Primer For Landlords – Part 4 in a Four-Part Series The ill-effects of the Coronavirus pandemic and subsequent Shelter-in-Place orders are becoming more and more apparent as they continue to trickle further down through our economy. Tenants unable to pay their rent are creating financial hardships for landlords working to pay their… Read more »

What is the best way to work through tenant defaults?

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Working Through Tenant Defaults

 After Shelter-In-Place: A Primer For Landlords – Part Three in a Four-Part Series Shelter-in-Place orders, while certainly prudent, have created financial difficulties for many. And while recent data has shown that tenants have continued to pay their rent at a higher-than-expected rate, forecasts tell us that the worst has yet to come, and that requests… Read more »