The Chicago Association of REALTORS®, the “Voice for Real Estate” in Chicago since 1883, represents 17,000 members from all real estate specialties including commercial sales, development, property management, appraisal, auctions and residential sales.
Learn how we help our 17,000 members. Membership options are available for licensed real estate professionals and those affiliated with the real estate industry!
REALTORS® Real Estate School offers all kinds of real estate licensing and training. Browse self-paced, online training or live classes in our modern, downtown classrooms!
How can we help your business succeed? Your membership includes multiple resource guides on industry topics, tools to increase your knowledge and market statistics to help your serve your communities.
Commercial real estate professionals learned about EB-5 financing, a free data resource for REALTORS®, securing credit and more at the CommercialForum/CCIM Roundtables Networking event on Thursday, Feb. 12.
Each table featured a topic providing helpful information for commercial real estate professionals.
Below are some key takeaways:
Securing Credit after the Crisis
• 54 percent of business loan applications received approval for some type of financing. (Joint Small Business Credit Survey Report)
• Loans were typically for working capital/line of credit (46 percent), SBA (23 percent) and commercial mortgage (18 percent).
EB-5 (U.S. Immigrant Investor Program) Financing
• EB-5 is a way for developers to get financing for projects.
• All EB-5 investors must invest in a new commercial enterprise – New is defined as established after Nov. 29, 1990.
• Investors are required to create at least 10 full-time jobs for U.S. workers within two years.
• In general, the minimum qualifying investment in the United States is $1 million.
REALTORS® Property Resource
• Commercial brokers can benefit from this free resource by accessing demographic and spending habit information.
• RPR licenses public records property data from the Applied Analytics division of Black Knight Financial Services (BKFS), a provider of mortgage processing services, settlement services and mortgage performance analytics. This includes public records sources across the country to aggregate one of the industry’s most robust, accurate and current data resources.
• This data can help validate site selection.
Land Use & Zoning
• The Chicago City Council makes final decisions on zoning map amendments, reviewing whether the proposal is consistent with plans for the area and compatible with the neighborhood’s character.
• Special uses require case-by-case review, going before the city’s zoning administrator to review each proposed special use application and forwarded a recommendation to the city’s zoning board of appeals.
See more about CommercialForum and upcoming networking events.
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Precautionary Measures and Information Regarding COVID-19
Your health and safety is of the utmost importance to us. As COVID-19 is predominantly spread through close contact, out of an abundance of caution, all events through April 30 will be either canceled or postponed, except for Coffee with Your GADs, which will take place virtually. This includes our annual Sales Awards, which we are working to reschedule.
If you have registered for one of our upcoming events, look for an email with further details. All tickets for paid events will be automatically refunded. Please allow 3-5 business days to see the refund on your bank statement. Questions? Please reach out to our events team.
Precautionary Measures and Information Regarding COVID-19
As COVID-19 is predominantly spread through close contact, out of an abundance of caution, all in-person classes scheduled through April 30 will take place virtually.
RRES staff has reached out to those of you who have registered for an affected class with an option to transfer into an online option or reschedule for a later classroom date. CAR to You is available in the meantime to assist you with your education needs and we have a variety of classes being offered online and via webinar for your continued development.