Chicago & Midwest + Finance | January 5, 2021

Chicago City Hall Mayor Lori Lightfoot 2022 budget

2021 Brings New Laws for Chicago Businesses, Real Estate

New laws that range from an increase in the motor fuels tax to an establishment of Accessory Dwelling Unit zones will take effect in Chicago this year, the Lightfoot administration said Monday. The new laws also include an increase in the minimum wage to $15 an hour, stricter regulation of the shared housing industry and extension of business relief efforts into the new year.

“These laws affect everyone from workers and small businesses to travelers and home-owners, and we want to make sure that everyone is aware of the regulations and deadlines that affect their lives,” said Mayor Lori Lightfoot.

Effective May 1, the new ADU law will legalize the conversion of basements, attics and carriage houses into affordable housing in five zones on the city’s North, West and South Sides. The Department of Housing will launch a three-year evaluation period to make recommendations for a permanent citywide policy.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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