Page 3 - CooperatorNews Chicagoland Fall 2021

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COOPERATORNEWS CHICAGOLAND —
FALL 2021
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TABLE OF CONTENTS
Yale Robbins
Publisher
Henry Robbins
Executive Vice President
Joanna DiPaola
Associate Publisher
Hannah Fons
Senior Editor
Darcey Gerstein
Associate Editor
Pat Gale
Associate Editor
Shirly Korchak
Art Director
Anne Anastasi
Production Manager
Alan J. Sidransky
Staff Writer
Peter Chase
Director of Sales
CooperatorNews Chicagoland is published quarterly by Yale Robbins Infomedia, 205 Lexington Ave., New York, NY 10016, (212) 683-5700. President: Yale Robbins, Executive Vice President: Henry Robbins. Subscriptions are available free by request to co-op and condo board
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How Has COVID Affected the Multifamily Housing
Market?..... 1
One year-plus into the largest public health crisis in a century, CooperatorNews spoke to end of June, boards and residents in multifamily buildings across the country are taking
real estate professionals across the geographic regions we cover to learn the effects that
the COVID-19 pandemic has had on their specific areas. What we found out is that the
co-op, condo, and HOA market has taken several twists and turns over the past year—
and a lot of that movement depends on where you live. In fact, even within the same
region, the pandemic has had varying impacts in luxury sectors versus middle-market, as nents over their useful lives. CooperatorNews spoke with attorneys in several markets
well as in urban centers versus more outlying areas. A number of tangential factors are
playing into trends and forecasts as well, making for a patchwork of experience across
the country.
Loss, Insurance, and Claims ...... . 1
For many, the topic of insurance can be a bit overwhelming. Even the terms we use as
insurance purchasers differ substantially from the terms industry professionals use when
discussing and settling claims—which can leave laypeople feeling like we need a trans-
lator to make sense of what exactly we’re paying for, what’s covered, and (even more
importantly) what’s not.
Structural Inspections.... 1
In light of the catastrophic, deadly condo building collapse in Surfside, Florida, at the
a hard look at how their own properties measure up to the structural maintenance and
safety requirements imposed by states and municipalities. From conducting regular,
competent physical plant inspections to making needed repairs in a timely fashion, these
ordinances are in place to ensure the safety and integrity of buildings and their compo-
to get a better sense of how requirements vary across the country, how different regions
compare with each other, and how residents and administrators can do their part to
keep their own buildings safe.
Pulse..................... 4
Q&A..................... 5