Category: Finance

Finance Greektown
2011 July Greektown

 Step through a unique six-pillared Greek pavilion at the intersection of  Halstead and Monroe and you're in Greektown, located in Chicago's near-west  community, one of Chicago's most popular neighborhoods for natives and tourists  alike.…

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Finance Worst. Board. Ever!
2011 July Worst. Board. Ever!

 It was time for the the Chicago-based senior association's annual meeting. The  board and residents, men and women, some in their 70s, were emotionally charged  and concerned about various issues that the board would discuss. The issues d…

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Finance Park it Here
2011 July Park it Here

 Anyone who has ever circled the corners looking for a parking spot in Chicago,  especially in the brutal winters, understands the importance of having a  regular parking spot. In a city as crowded and fast-paced as Chicago, parking  is a …

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Finance Budget Basics
2011 July Budget Basics

 Not everybody on a co-op or condo's board is an accountant (or can even balance  their own checkbook, for that matter.) Handling the money for an entire  association is a big responsibility however, and residents rely upon their  board to…

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Finance Preparing for the Worst
2011 July Preparing for the Worst

Chicagoans pride themselves on the ability to withstand bitter winters but sometimes Mother Nature just does get the better of us. For proof, just look at the pictures from this past January of abandoned cars along Lake Shore Drive and…

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Finance All is Not Lost
2011 July All is Not Lost

 In the language of retail, it’s called shrinkage—the percentage of loss experienced by a business due to theft. Co-ops and condos  may not use the same term for it, and they don't have displays of handbags or  jewelry to safeguard, but th…

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Finance Maintenance Increase Strategies
2011 July Maintenance Increase Strategies

 The dreaded phrase “maintenance increase” are two words that most condo and co-op owners don't want to hear, but sometimes it is necessary for a building’s board to make the unpopular decision of raising fees. With rising operating  costs…

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Finance Money in the Bank
2011 July Money in the Bank

Perhaps one of the most difficult aspects of the recent recession was the sudden evaporation of credit from major banks and lending institutions. The logic behind it was understandable: too much easy credit had led, in part, to the col…

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Finance The Role of Reserve Studies
2011 April The Role of Reserve Studies

One of the trickiest things in planning a budget for your building or HOA is the surprise maintenance problem or structural crisis that comes out of nowhere and depletes your community’s bank account. While you might be prepared for sno…

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Finance Out of Sight, Out of Mind...Out of Money?
Out of Sight, Out of Mind...Out of Money?

Beautiful new residential buildings are erected every year. As developers make the finishing touches, the walls are closed to conceal elements like piping, wiring, fire suppression systems, and insulation. Unfortunately, awareness of these …

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