Connected Management Blog

It's 108 years in the making.  Last night, the Chicago Cubs won the 2016 World Series in cinematic fashion, defeating the Cleveland Indians in extra innings amidst a deluge of rain. City Hall announced today that the Cubs' victory parade would be held this Friday, 11/4, at 10 a.m. The parade is expected to start at Wrigley Field, ending with a rally in Grant Park. Millions of people are expected to descend on the city tomorrow, eager to participate in the festivities. But as the city has learned in the past, massive crowds tend to attract trouble. Here are some...

It's almost as if a new housing development is being built in Chicago every day.  Demand for rental housing in Chicago is the highest it has been in years, with DePaul's Institute of Housing Studies (IHS) reporting that rentals make up nearly 44 percent of all Cook County households, up from 38 percent in 2005.  Although renters of all ages and income levels have increased, the youth represent the largest renting demographic, as thousands of young professionals flock to the city's hippest areas. Many of these young people are exceptionally affluent. DePaul's IHS reports that the these professionals have incomes...

  For some, the winter season means holidays, cozy nights by a warm fire and peaceful walks through gently falling snow. But it can also mean blizzards, bone-chilling temperatures and ice build-up that can wreak havoc on a building’s integrity. It’s an inevitable fact of living in the Upper Midwest: winter is coming. The maintenance duties of condo owners often vary across associations, but depending on your agreement, you may be responsible for many of these tasks.  Here are some tips to ensure your home survives the season: Before the worst of the cold weather comes through the area, make sure...

Starting in 2017 all condo associations in Chicago must have recycling services at their building. Failing to have recycling services active by 1/1/17 will expose the association to potential fines from the City. This new requirement is part of the Chicago Recycling Ordinance that was recently passed by the Chicago City Council. The ordinance goes into effect on January 1, 2017, and requires all commercial and multi-unit residential buildings to provide "source-separated, single stream recycling for residents." This simply means that all associations must purchase standard recycling services from a waste management provider. Obviously this is great news for the waste...

When a condo association needs a large amount of cash in a short period of time, a loan may be the only option. This is especially true if the owners cannot afford a large special assessment. Association loans often become necessary as an emergency measure due to deferred maintenance and a lack of proper budgeting. These types of loans use the association's existing and future assessment income as collateral to secure the debt. This means that if the association fails to repay the loan, the bank will go after the association's assessments. Prior to this change to the Illinois Condominium Property...