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All in Commercial Real Estate
Remote online notarization is the process of having a licensed notary notarize a document with electronic signature technology. Systems implement verification techniques to complete the process securely.
The 2023 real estate market is one Americans are curious and anxious to see return to normalcy. But will that be the case in 2023?
After lengthy delays, homeowners are set to see Cook County property taxes potentially rise by year’s end. Typically, the bill would’ve been mailed in August 2022.
In the real estate world, few stories have been quite as big as the SECURE Notarization Act with the U.S. Senate’s approval pending shortly.
On Wednesday, July 27th, the House of Representatives passed the SECURE Notarization Act. With its passage, this latest bill expands the availability of remote online notarization nationwide.
Illinois lawmakers launched their latest initiative towards combatting racial bias with the brand-new Real Estate Valuation Task Force. Lawmakers designed this task force to battle discriminate practices in property appraisals.
As of late, investors began numerous real estate initiatives throughout the Chicago South Side, including an influx of investments and developments.
With the start of the new year, Illinois legislators passed numerous 2022 real estate laws. Some of the major new additions to the state, include the Notary Public Act, Real Property Transfer on Death Instrument Act, and the Illinois Human Rights Act.
Along with a string of other new laws and amendments, the Illinois Human Rights Act experienced an update of its own.
On July 9th, 2021, Illinois Governor JB Pritzker signed the Real Property Transfer on Death Instrument Act. In a slew of major, new real estate laws coming into fruition the latest Act took effect on January 1st, 2022.
Throughout the past couple of years, many in the real estate industry clamored for remote notarization in Illinois. Since the onset of the coronavirus pandemic in 2020, more than 4.7 million Americans worked remotely at least half the time, reaching a peak of 164.6 million people in February 2020.
One of the world’s biggest economies is facing a potential crisis in the real estate market. What exactly is happening and how do China’s famous ‘Ghost Cities’ factor in?
On Thursday, August 12th, it was announced that the JDS Construction lawsuit will carry onward after an Illinois court refused to dismiss the case.
Force majeure is a clause included in most contracts that relieves a party of its obligation under extreme circumstances - usually unforeseen and unpredictable events that make performing those obligations nearly impossible. Examples would be war, strike, riots, crime, epidemic (pandemic) or other “ Acts of God” that prevent one or both of the parties to the contract from performing under the contract.
With business around the world disrupted due to the ongoing COVID-19 pandemic, the spotlight is on force majeure. In particular, the real estate industry has taken notice.
Relief for mortgage payments is here. Congress recently passed the CARES Act which provides relief for individuals with federally backed mortgages.
The primary difference between a commercial real estate transaction and a residential one concerns the entities involved. A residential transaction typically involves a transaction between two individuals, but because commercial properties are typically larger and used by business entities, they tend to be seen more as an investment rather than a purchase.
2019 was a year to remember for Chicago real estate development, including a revival of the Old Post Office, megadevelopment projects on the riverfront, and perhaps, most notably, the opening of the world’s largest Starbucks, a five-story coffee heaven located on Michigan Avenue!
In 2020, several projects are set to break ground, continue production, or open for business!
