Property Owners’ Rights Taken By The New NW Preservation Ordinance with Luke Blahnik

Episode 327: Property Owners’ Rights Taken By The New NW Preservation Ordinance with Luke Blahnik
Luke Blahnik returns to educate us on the new Northwest Side Preservation Ordinance.
Luke jumps right in by explaining the ins and outs of the expansion of the Predominance of the Block (606) District under this new ordinance. He breaks down the increased fees to demolish a multi-unit building, limitations on building single family homes, and requirements for selling a tenant-occupied building in the area. Luke, Mark, and Tom discuss how the Ordinance will not be able to accomplish the goal of preserving affordable housing and instead could have negative impacts to landlords and tenants. A main takeaway from today’s show is to stay involved in housing provider communities and make your voice heard to stop policies that do not help landlords, tenants, and/or the City of Chicago as whole.
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03:13 Housing Provider Tip - Stay involved in your community so your voice is heard.
04:53 Intro to our guest, Luke Blahnik!
05:27 The “Northwest Preservation Ordinance” Explained.
19:32 Exemptions for the Ordinance.
19:10 Benefits of raising capital and passive investments!
22:40 Groups most impacted by the Ordinance.
36:28 What’s next following the implementation of the Ordinance?
39:49 What is your competitive advantage?
40:24 One piece of advice for new investors.
40:42 What do you do for fun?
41:18 Good book, podcast, or self development activity that you would recommend?
41:46 Local Network Recommendation?
42:31 How can the listeners learn more about you and provide value to you?
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28:08 what move in fee legislation?