Viewing entries in
Real Estate

2024 Chicago Winterization Guide: Fall Checklist for Homeowners & Renters

Comment

2024 Chicago Winterization Guide: Fall Checklist for Homeowners & Renters

2024 Chicago Winterization Guide: Preparing Your Home for Cold Weather

Winter in Chicago is both beautiful and brutal, bringing freezing temperatures, heavy snowfall, and ice that left unattended, can lead to some major problems when managing or owning property. First-time homeowners may be asking "How to winterize properties in Chicago?" Or "How do I winterize my Chicago home?" Whether you're a homeowner, a renter, or someone looking to sell your property, we have put together some expert recommendations from Fannie Mae and Pearson Realty Group to help you take the proper steps to winterize your home is essential for your comfort, safety, and even saving money. In this comprehensive 2024 update for our Chicago Winterization Guide, we'll cover the key areas you should address before the snow starts to fall.

Why Winterization Matters in Chicago

The Midwest, especially Chicago, is known for its extreme winter conditions—blizzards, ice storms, sub-zero temperatures, and wind chills that can make your home feel like an icebox if it's not properly prepared. Just a few years ago during the 2019 Polar Vortex homeowners and renters alike experienced what happens when you don't prepare for the worst. Taking proactive steps now ensures your home is ready for whatever Mother Nature throws your way, and it could save you thousands in potential repairs. Winterizing your home can help you:

  • Improve energy efficiency and lower heating costs.

  • Prevent costly repairs from frozen pipes or roof damage.

  • Protect your home’s value, especially if it’s on the market.

  • Enhance safety and comfort for your family.

Winterizing Your Home: A Checklist for Homeowners

1. Inspect & Seal Windows and Doors

Drafty windows and doors can cause heat loss, making your home less energy-efficient and increasing your heating bill. Properly sealed windows and doors can massively cut down on heat loss. Use caulking or weatherstripping products to seal any gaps that air can escape - you can always check for drafts by holding a candle or lighter near windows and door frames—if the flame flickers, there is an air leak. Homeowners should also consider upgrading to storm windows that offer an extra layer of winter protection with added insulation. When our partners at Pearson Realty Group work with Chicago REO properties during the winter months, this is often one of the first and easiest steps taken in winterizing a home.

2. Service Your Furnace and HVAC System

Your heating system is your first defense against the cold, so ensuring it’s in good working order is necessary. Many experts recommend keeping your thermostat set at a consistent temperature (around 68°F) to save on heating costs. It's also recommended you schedule a professional furnace tune-up to check for any issues and change the filters. Be sure to check your thermostat settings, and consider upgrading to a programmable or smart thermostat to optimize energy efficiency. We recommend checking your HVAC systems and major appliances to ensure any pumps, hoses, cords, or any other connections are clear of obstructions and no water damage is present. This is also a good time to check to see if your smoke and carbon monoxide detectors are in working order.

3. Clean Your Gutters and Downspouts

Clogged gutters can lead to ice dams, which cause water to back up under your roof and potentially lead to leaks and structural damage. Remove leaves, sticks, and debris from your gutters and ensure your downspouts direct water away from the foundation to avoid water buildup and ice hazards that can lead to possible roof looks. This is also a great time to inspect the exterior of your home for pests, rodents, and any potential entryways they could use. When the winter finally kicks in, it's important to monitor for any icicles forming, as this can be a sign of heat escaping.

4. Insulate Pipes to Prevent Freezing

Frozen pipes can burst, leading to costly water damage. One way to protect your pipes is to insulate exposed pipes, especially those in unheated areas like the garage, basement, or attic. You might want to consider installing heat tape for pipes in particularly cold areas of the home. For other areas of the house, you can ensure your pipes' integrity by keeping the temperature at a consistent rate, even if you're not home, to prevent freezing. We recommend a constant temp of 68°F to prevent potential issues, but every home and owner's comfort needs will be different.  This can be especially important when Pearson Realty Group’s Chicago REO team is prepping unoccupied inventory for the winter season.

5. Prepare Your Roof and Attic

Heavy snow and ice buildup can cause roof damage or even collapse in extreme cases. Attic insulation can also help prevent heat from escaping, further lowering your energy bills. Ensure your roof is ready to bear the weight of a snowy winter by inspecting your roof for missing/damaged shingles and making repairs as needed. It's also a good idea to clear out your attic and make sure it's properly insulated to prevent ice dams from forming on your roof. If you see any evidence of water damage, you should address this immediately. Preparing a roof and attic for the tough winter season is a significant portion of the preventative maintenance responsibilities PRG Management takes on for both residential and commercial spaces to ensure the building and its tenants are safe and sound.

Winterization for Renters: Essential Tips

If you’re a renter, there are still proactive steps you can take to ensure your home is warm and energy-efficient during the winter months. It’s also a good idea to check with your landlord about any shared responsibilities, like shoveling snow, salting walkways, or replacing filters to ensure you are doing everything you can to keep your home warm and comfortable. Here are a few renter-friendly winterization steps that we recommend:

  • Ask your landlord to service the heating system and replace the filters.

  • Use draft stoppers (or rolled-up towels) at the bottom of doors to prevent cold air from seeping in.

  • Add thermal curtains to windows for extra insulation. Insulation Shrink Kits are another suitable budget-friendly solution.

  • Reverse your ceiling fans to cycle warm air downward and circulate it more effectively.

  • Keep your thermostat at a consistent temperature, even when you're not home, to prevent pipes from freezing.

READ MORE: Apartment Renter Tips for Chicago Winters

Expert Tips from Fannie Mae

According to Fannie Mae, proper home maintenance during winter can reduce energy costs and help avoid damage that could affect the home’s value. Remember that you may need a professional to handle more advanced maintenance and repairs. Here are a few steps that not only save money but can also increase the overall comfort and safety of your home during the winter months:

  • Review insurance coverage: Know what your policies cover—policy changes can’t be made during a disaster.

  • Prepare an emergency kit: Include chargers, flashlights, batteries, blankets, first aid, water, and nonperishable foods.

  • Use resilient materials: Opt for windproof windows, fireproof siding, and durable roofing when making improvements.

  • Store valuables securely: Use weatherproof containers or safes for heirlooms and important documents.

Our partners at Pearson Realty Group's Chicago REO & Short Sale department utilize in-depth guides from Fannie Mae that provide efficient processes that allow them to winterize REO properties and REO winterization services in a timely, budget-friendly fashion.

Winterizing your Chicago home is not just an annoying task to cross off your to-do list—it’s a crucial step to protect your home and improve energy efficiency while keeping your family safe and comfortable throughout the winter season. Whether you're a homeowner or renter, taking proactive measures now will save you time, money, and stress once the snow starts to fall.

As you prepare for the upcoming winter, refer back to PRG Management's 2024 Chicago Winterization Guide to ensure you haven’t missed any crucial steps. With proper planning, your home will be ready to withstand even the harshest Chicago winter. If you plan on selling this winter, contact our partners at Pearson Realty Group today to get in touch with an experienced Chicagoland real estate agent who can guide you through the best practices for listing your home during the winter. Owners and investors looking for assistance in managing your building's winterization efforts, and beyond contact our Chicago property management team or fill out the form below for a free proposal.

Comment

Upcoming 2024 Chicago Real Estate Developments

Comment

Upcoming 2024 Chicago Real Estate Developments

2024 Chicago Development Projects

Chicago’s real estate developments are rapidly expanding with some thrilling advancements. From combined commercial and residential property developments to new environmentally friendly apartment features, we have collected a few of the most exciting development projects to look for within the year. The following properties are revamping neighborhoods and adding to the architectural layout of the city, while also offering new opportunities to buyers/sellers.

CABRINI-GREEN DEVELOPMENT – CLYBOURN AND LARRABEE

2024 Chicago Real Estate Development - Cabrini Green Property

The new chicago development of the Cabrini-Green apartment complex is projected to include 248 units available for rent. The development aims to provide affordable market rate apartments that serve as multifamily homes, and is currently in the planning stage of development. As of 12/27/23, initial details have been revealed, and the zoning application was filed by Chicago Housing Authority. This 2024 development is set to put an emphasis on accessibility by creating enjoyable housing for people with disabilities and will include many accessibility features.

Lincoln Square Apartments

2024 Chicago Development - 5035 N Lincoln Ave

The apartment plans for the 5035 N Lincoln Ave development are putting an emphasis on clean living, and will include bicycle spaces, electric vehicle chargers and a partial green roof. signaling a switch to green energy in the chicago-land area. The 2024 Chicago development will also feature five stories with 47 apartments. The current plans call for mixed commercial/live-in spaces, and will put a focus on having 15 affordable units . The NorthShore Development Group along with partner THNS LLC have recently requested a zoning change as of 12/8/23 signaling some potential changes to the property.

Clybourn Corridor

2024 Chicago Development Mockup - Clybourn Place design

The new Chicago development of Clybourn Place shopping center includes a major redevelopment that includes a 520 feet apartment building. The apartment building is in the works of getting approved by the city, but would include 50-stories of residential housing. The plan would have 70,875 square feet of retail space and an enclosed and surface parking spaces. Additionally, the surrounding area of Lincoln park has been approved for towers as tall as 595 feet which shows promise for the Cybourn Place apartment development.

Thompson Center Google Renovations

2024 Chicago Real Estate Development - Google renovations at Thompson Center

The renovations of the famous Thompson Center in Chicago are in full swing before over 1,000 Google employees will join the building. Google previously announced in July 2022 that it would be taking over the Thompson Center, and now almost 2 years later renovations are in the works. On May 3rd, demolition of the exterior of the building started. The permits issued for the property allowed for metal and glass siding to be removed and will be replaced with a opaque glass exterior. Google has stated that the atrium will be left open to the public and the major company hopes to make it a midwest hub for Google once the construction is done.

400 Lake Shore Drive

2024 Chicago Real Estate Development - 400 Lake Shore Drive Construction Mockup

Construction has began at 400 Lake Shore where a 2-tower residential development will be constructed. The first part of renovations will be a 72-story residential tower. The tower’s foundation of a concrete base was just poured earlier this month, and the tower is the tallest current tower under construction in all of chicago. The residential towers are set to house over 635 new apartments, and about 127 of those apartments are set to be affordable. Overall, the properties will provide hundreds will housing and are projected to be major real estate to look out for in 2024.

3951 North Wayne Avenue

2024 Chicago Real Estate Development - 3951 North Wayne Avenue building plans

Permits have officially been issued as of March 2024 for the new residential property in Lake View, Chicago. The new chicago real estate development has an official budget of over $9 million dollars, and will be four-stories high. Overall, there will be 31 units in the building and the apartment will offer a few different amenities including a deck and rooftop access. The general contractor for the project, Vivify Construction LLC, hopes to have a timely process, and the complex will hopefully be done in the next year.

Woodlawn Central Distict Renovations

2024 Chicago Real Estate Development - Woodlawn Central District Renovations Plans

The district of Woodlawn central is a 8 acre, 1 million square foot district that is being renovated to include a variety of housing, retail, commercial and corporate real estate developments. The large scale real estate development plans to prioritize development while trying to avoid displacement in the Woodlawn area. The property development also aims to be an equitable transit-oriented development, which would enhance the areas urban layout. The first phase of development and the development overall aims to be a new model for urban regeneration and is designed for and made by the Black community.

116 S.Paulina Mixed-Use Development

2024 Chicago Real Estate Development - 116 S. Paulina Mixed use development rendering

The Chicago Plan Commission approved the mixed-use development planned by the City Church Chicago. The sit is currently vacant, but the City Church has big plans for the space. The project is expected to be built in multiple phases. The first phase will build a 2 story building, which will include the Church’ s main worship space, retail spaces and a cafe. The second phase will expand the property to the north and will add young programming areas, business office spaces and conference rooms. Finally, the third phase will see the major real estate development of a 12-story residential tower, which would include 76 residential units.

If you are interested in any of these new investment opportunities or management opportunities within chicago real estate, our team at PRG management are here for you! Contact us today with the form below to talk to a management expert at Pearson Realty Group!

Comment

The True Price of Chicago Real Estate Licenses

Comment

The True Price of Chicago Real Estate Licenses

The estimated cost to get your real estate license in Chicago, depending on your school, test prep, & actual testing will run you anywhere from ~$2,000-2,300.

Real Estate School ($350-600)
+ Illinois State Exam ($55)
+ License Application ($125)
+ Association Membership ($1500)
= Cost To Be An Illinois Realtor ($2030-2280)

Now that you have your license and found your brokerage it’s time to get to the nitty-gritty. You need the tools and resources to list & search for properties, send & sign documents, and more depending on your needs. These come in many varied forms, some reoccurring monthly/annually and some one-time fees, again depending on your needs. Many memberships and fees may be written off at the end of the year, talk to your managing broker for more details.

Examples of additional fees & costs to think about:

  • MLS Membership – $1,138/year

    • Realtor Association Membership – $1500/year (MLS fees included)

  • Office Transfer Fee – $50 OTF (for switching brokerages)

  • State Transfer Fee – $25 OTF (for switching brokerages)

  • E-Signature Platform Fee – $20/month

Comment