Brie Schmidt

4 days ago | biggerpockets.com | Brie Schmidt |Mark Ainley

Hi everyone,Hope you are all doing well and enjoying the holidays! I was wondering if any of you had thoughts on the high tax reassessments in Cook County and tax increases in Chicago?  It seems as if some people can face a tax bill increase of 50%, maybe even more. With the low interest rates and overall low taxes has made Chicago attractive to investors and homebuyers, in many cases creating bidding wars.

1 week ago | biggerpockets.com | Brie Schmidt |Tom Mole |Nick Patterson

I have an offer pending on a retail condo in chicago with about a 10-12 cap rate. Its in a good area of the city (lincoln park/lakeview) with decent traffic. I'm not understanding pricing here. I know people are concerned that property taxes will rise slightly, population growth etc.. but is that the sole reason for the high cap rate? There are very few, if any, other big cities with such cap rates.

1 week ago | biggerpockets.com | Paul Smith |Arpan Patel |Brie Schmidt

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3 weeks ago | biggerpockets.com | Jonathan Klemm |Brie Schmidt |Grayson Schiller |Mark Reitman

Who here is working the short-term rental market in Chicago? I am a Chicago native, working in development for the last six years. I'd like to expand my investment portfolio into STRS, but it's been challenging to get consistent information. For example, some brokers I've talked to have been insistent that if I don't live on the property my permits will be denied to legally run a STR. Other brokers have told me basically the opposite answer.

3 weeks ago | biggerpockets.com | Bob Condon |Frank Chin |Brie Schmidt |Yoseph Kalman

Originally posted by @Bob Condon:I've inherited a house and there are a few things that weren't permitted.   There is an attic turned into a bedroom, and two half baths that had showers added.   I read about retroactive permits, and I can't find anything about this on the City of Chicago building permits site or by searching.  Does anyone have experience with this?   I am looking to sell, and I don't want to run into problems or have the house appraised less than it should be.