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CHICAGOCOOPERATOR.COM  THE CHICAGOLAND COOPERATOR —  FALL 2019    5  Tuesday, October 22, 2019  The Cooperator Expo Chicagoland  McCormick Place West-Skyline Ballroom,   Chicago, IL  10:00 a.m. - 4:30 p.m.  A must attend for all board members, prop-  erty managers, condo, HOA, & co-op decision   makers and apartment building owners. Learn   about the latest services from more than 300   exhibitors. Attend educational seminars, net-  work with your peers, and get free advice from   industry experts. For information, visit    www.fall.ilexpo.com.  Thursday and Friday,   October 17 and 18, 2019  CAI: M-206 Financial Management  CAI Illinois Chapter Office,    1821 Walden Office Square, Suite 100,   Schaumburg, IL  9:00 a.m. - 5:00 p.m.  Learn how to best manage your association’s   money. This course gives you the tools to   understand and apply the principles of finan-  cial management to your community associa-  tion. You’ll learn the entire budget process,   from identifying line items to reconciling   accounts to gaining board approval. You’ll also   learn how to analyze and report on association   finances. For information, visit www.caionline.  org.  Friday, October 25, 2019  IREM Chicago: CPM Certification Exam  IREM Chicago Chapter Office,   2901 Butterfield Rd., Oak Brook, IL  8:30 a.m. - 12:30 p.m.  The CPM Certification Exam tests all that   you have learned through your education and   experience in real estate management and   ensures the integrity of the CPM designation.   If you have completed the CPM education   requirement, you are ready to take the CPM   Certification Exam. Register online at    www.irem.org.  CAL EN D AR  Industry Pulse  October  Transactions  More Details Emerge About New Tribune   Tower Residences  The developers behind the new Tribune   Tower Residences finally released new ren-  derings and specs of the project, the   Chicago   Tribune   reported. According to the infor-  mation, there will be 162 condo units at the   436,000-square-foot tower, with some having   private terraces and others having staggered   balconies. Prices for the units range from   $700,000 to more than $7 million and move-  ins will begin in the fourth quarter of 2020.   Building amenities include a fitness center, a   communal lounge area on the 25th floor, an   indoor swimming pool on the seventh floor,   and a private dog walk near the parking area.   The famous building was the former home of   the   Chicago Tribune   until the newspaper an-  nounced its move to its current home at One   Prudential Plaza in 2017, according to   Chi-  cago Magazine  .  Report:  Plan  to  Convert Landmarked   Streeterville Condo Into a Hotel  A landmarked condominium building   at 227 E. Walton Place in Streeterville could   be turned into a hotel,   Curbed   reported.   The13-story building designed by renowned   architect Harry Weese from the late 1950s   would be converted into 24 extended-stay   corporate suites and developed by BRAD   Management’s Jerry Wise. A zoning change   is required by the city for the building to go   from residential to extended-stay units.A   public discussion about the zoning request   was scheduled to take place on August 21.  Property Management  Associa Chicagoland Celebrates Clients at   Casino Night  Associa Chicagoland hosted a client ap-  preciation casino night to celebrate clients,   network, and help raise money for Associa’s   national non-profit, Associa Cares, the prop-  erty management company announced in a   news release.  The event highlighted the tremendous   teamwork between Associa Chicagoland em-  ployees and board members, residents, and   vendors. Their collaborative effort extended   beyond excellent service and management   to poker tables, hors d’oeuvres, door prizes,   and a silent auction—all located in the beau-  tiful Meridian Banquet and Conference Cen-  ter. The event was a hit with more than 350   people—including valued business partners,   board member clients, and Associa man-  agement and leadership attending. Associa   Chicagoland raised more than $5,300 to help   residents that have been affected by natural   and man-made disasters.  “Casino night is a great example of how   the community and industry can come to-  gether to extol excellent management and al-  truistically raise charitable support for those   in  need,”  stated  Stephanie Skelley, Associa   Chicagoland president. “I am proud that we   raised over $5,300 for Associa Cares while   also celebrating our wonderful clients.”  Associa Cares funds are distributed to   families of Associa-managed and non-As-  socia managed communities. To donate to   Associa Cares or apply for assistance, please   visit our website at www.associacares.com.      Buildings  Aldemen’s Proposal Would Raise Percent-  age of Owner Votes Needed for Bulk Condo   Sale  Amid the popular trend of deconver-  sions taking place in Chicago, two aldermen   are proposing an ordinance that would set a   higher threshold for the percentage of votes   required to approve a bulk condo sale.   Crain’s   Chicago Business   reported that Aldermen   Brendan Reilly and Harry Osterman have   called for a requirement of 85 percent ap-  proval from the ownership of a condo asso-  ciation for a sale to go through; under current   Illinois law, the percentage of owner support   required for a bulk sale approval is 75 per-  cent. The proposal appears to be a response   to some condo owners who don’t want to sell   their units, even if others in their building   want to do so. A City Council meeting to dis-  cuss the ordinance was slated for September   18. Attorney Kelly Ellmore of the firm Kovitz   Shifrin Nesbit spoke to   Crain’s   about the idea   of increasing the percentage of owner voting   approval: “The reality is that whether the vot-  ing percentage is raised to 85%, 90% or even   100%, no threshold will ever appease those   owners who simply do not want to sell their   units at any price.”  Law & Legislation  Court: Insurance Company on the Hook   for Full Repairs at Naperville Condo  In a victory for a Naperville condomini-  um association, a federal appeals court ruled   that an insurance firm is responsible for pay-  ment for the repair of all four walls of the   association’s buildings damaged in a 2014   storm,   Cook County Record   reported. The   U.S. Seventh Circuit Court of Appeals decid-  ed that the Philadelphia Indemnity Insurance   Co. has to pay to replace the siding of all four   walls of the buildings owned by the Win-  dridge of Naperville Condominium Associa-  tion. The case goes back to a 2014 hail and   wind storm that hit parts of the buildings;   Philadelphia Indemnity argued under its re-  placement-cost policy that it is only obligated   to pay the damaged sides, but Windridge   claimed that the unaffected sides would also   need replacement in order to make the siding   of the buildings whole once more. According   to   Cook County Record,   a U.S. District Court   judge ruled that Philadelphia Indemnity’s   policy included “make whole,” after which   the firm appealed.  Trends  Illinois Condos Had a Mixed July, Accord-  ing to Realtors  The median sales price and the number of   sales of Illinois condos experienced a decline,   according to the Illinois Realtors’ monthly lo-  cal market update for that month. The medi-  an sales price for condos throughout the state   during July 2019 was $201,000, a 0.5 percent   2019  PULSE/CALENDAR  continued on page 39   YOU’LL LEARN SO MUCH  YOUR HEAD COULD EXPLODE.   (Our lawyers said we had to warn you.)  MCCORMICK PLACE WEST SKYLINE BALLROOM  —  TUESDAY, OCTOBER 22, 10AM-4:30PM  FREE REGISTRATION: FALL.ILEXPO.COM  THE COOPERATOR  EXPO  2019  WHERE BUILDINGS MEET SERVICES


































































































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