News
The New Keep Chicago Renting Ordinance
On July 21, 2021, the Chicago City Counsel repealed the Protecting Tenants in Foreclosed Rental Properties Ordinance, commonly known as the Keep Chicago Renting Ordinance ("Old KCRO"), and replaced it with a new ordinance that officially adopted its predecessor's more-recognized nickname ("New KCRO"). This was done after the Illinois appellate court recently held that Old KCRO's requirement that renewal leases be capped at at 102% of the tenants' current rent violates the Illinois Rent Control Preemption Act. A copy of New KCRO is included below since Chicago has not yet updated the online version of its Municipal Code to reflect the change.
READ MOREUpdate on the Illinois Senate Bill 255
On July 9, 2021, the Illinois Governor signed IL SB 255 into law. The bill amends Section 1508 of the Illinois Mortgage Foreclosure Law (IMFL), which deals with the procedures for conducting judicial sales of foreclosed properties in Illinois.
READ MOREUpdate on the Illinois COVID-19 Federal Emergency Rental Assistance Program Act (Public Act 102-0005)
On May 17, 2021, the COVID-19 Federal Emergency Rental Assistance Program Act (the "Act"), previously HB 2877, was signed into law by Illinois Governor Pritzker as Public Act 102-00005 and became effective. The relevant provisions of the Act amend the Illinois Code of Civil Procedure by adding two new sections concerning residential foreclosures (735 ILCS 5/15-1513 and 735 ILCS 5/15-1514), amending 735 ILCS 5/9-121 concerning residential evictions, and adding two new sections on residential evictions (735 ILCS 5/9-121.5 and 735 ILCS 5/9-122).
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