Wondering how the Northwest Preservation Ordinance is shaking up Chicago?

[Brie Schmidt]

Every landlord in Chicago needs to watch this! Wondering how the Northwest Preservation Ordinance is shaking up Chicago's real estate scene? Join attorney Bob Floss and I as we dive into its impact on landlords, buyers, and sellers. This is a Chicago landlord problem, regardless of if the ordinance affects your specific area. We have concerns about the ordinance's potential to drive investors away, cause unnecessary evictions, and the complexities of compliance. The conversation covers issues like the impact on property values, tenant rights, and the broader effects on the real estate market. 

[Brie Schmidt]

@Jonathan Klemm - That is one of my rants in the video. I get what they are trying to do here, preserve 2-4 unit properties and discourage deconverting to SFH. Chicago is losing housing stock at an alarming rate. But it is their fault. They changed the zoning map to make every side street RS-3 so these developers are just taking 2-4 units in non-conforming status and by right making it a SFH. If the zoning map was altered where all 2-4 units were now RT-4 then developers couldn't just tear them down to make SFH and building owners wouldn't need to fight the city to increase density. It is really a simple answer but you know Chicago, why would they do anything that makes logical sense?! Instead they go about it a** backwards and add more red tape and more complications costing the city and it's residents more money