cash for keys: Mayor of Chicago is trying to implement his own “Cash for Keys Program” - 05/02/13 02:02 AM
There’s lots buzz running around our fair city; City of Chicago’s Mayor, Rahm Emanuel, has proposed a bill that would require real estate investors that purchase multi-unit buildings from a foreclosure auction to pay renters to move.
According to the Chicago Tribune, He is proposing that in order for the new owner to be fair to the current tenant, that the tenant receive $12,000 to move.  The other option is to provide the tenant with a long term rent-controlled lease.
Benjamin De Los Monteros, of Cherry Picker Investments said, “It was quite the stir yesterday sitting in the auctions yesterday.  Many … (2 comments)

 
Michael Hobbs, SRA, LEED GA, RAA (PahRoo Appraisal & Consultancy)

Michael Hobbs

SRA, LEED GA, RAA

Chicago, IL

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PahRoo Appraisal & Consultancy

Address: 1707 W. Roscoe Street, Suite 1, Chicago, IL, 60657

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