Keep Chicago Renting Ordinance Text

We have obtained the text of the recently introduced “Keep Chicago Renting” Ordinance that would protect a tenant’s right to remain in a rental unit after a foreclosure.  A number of aldermen and the Cook County Sheriff are in support of the proposed ordinance.  The law would effectively turn foreclosing banks into landlords.  The problems of tenants in a post-bubble world are real and need to be addressed, but this law may not be the answer.  The law has not yet passed.