Category Archives: foreclosure

Keep Chicago Renting Ordinance passing muster

Posted on May 3, 2017 by Richard Magnone

Post-Foreclosure Landlords Beware The relatively new Keep Chicago Renting Ordinance (KCRO) was the subject of an appellate case, Wells Fargo Bank v. Volneat Vanette McCondichie, released on March 31, 2017.  Readers will recall that the ordinance requires the first party … Continue reading →

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Pentalties for Noncompliance with Keep Chicago Renting

Posted on October 11, 2013 by Richard Magnone

So, we’ve discussed notices, relocation assistance/rent control, and registration as we broke down the Keep Chicago Renting Ordinance.  Today, we will wrap things up by addressing the various ways the law allows for compliance and, more directly, non-compliance.

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Registration Requirements Under Keep Chicago Renting

Posted on October 10, 2013 by Richard Magnone

owners & landlords buying foreclosed residential rental property in Chicago have to comply with registration requirements of 5-14-060

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Relocation Assistance under Keep Chicago Renting

Posted on October 9, 2013 by Richard Magnone

Chicago landlords & investors need to know relocation assistance lease renewal & extension & rent control under 5-12-050 of Keep Chicago Renting

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Notice Requirements for “Keep Chicago Renting”

Posted on October 8, 2013 by Richard Magnone

Protecting Tenants in Foreclosed Rental Property Ordinance notice requirements 5-14-040 21 days 7 days posting for foreclosed landlord

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Keep Chicago Renting Week

Posted on October 7, 2013 by Richard Magnone

Per the City of Chicago Department of Buildings, the “Keep Chicago Renting” Ordinance has gone into effect as of September 24, 2013.  As such, the law deserves to be reviewed.  While it is pretty rare that the “everyday” landlord is … Continue reading →

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Illinois enacts new tenant protections related to forclosure

Posted on August 22, 2013 by Richard Magnone

Illinois law protects tenants with bona fide leases from eviction until receipt of a 90 day notice to evict post-foreclosure

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Appellate court recognizes tenant protections of Federal Protecting Tenants at Foreclosure Act

Posted on July 1, 2013 by Richard Magnone

Chicago, Illinois Tenant with bona fide lease is protected from eviction until expiration of lease under protecting tenants at foreclosure act

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Rent control comes to Chicago. Council passes Keep Chicago Renting

Posted on June 6, 2013 by Richard Magnone

New Chicago law adds additional complexity to post-REO and REO transactions for foreclosures involving tenants

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City moves forward on “Keep Chicago Renting” Ordinance

Posted on May 31, 2013 by Richard Magnone

Many Chicago post foreclosure REO sales and purchases will be subject to new rules related to existing renters

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