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Chicago & Midwest  + North Side  + Apartments  | 

North Side Alderman Introduces Rent-Relief Legislation

Ald. Matt Martin, who represents the 47th Ward on the North Side, has introduced an ordinance to the City Council that would provide renters who are struggling financially due to the COVID-19 shutdown with up to 12 months to pay that rent.

Martin also wants to pass a non-binding resolution calling on Gov. J.B. Pritzker to help secure a commitment from mortgage lenders to offer at least 90 days of mortgage forbearance to borrowers who have lost income due to COVID-19.

The resolution further calls upon these lenders to waive or refund mortgage-related late fees, as well as to forgo reporting the occurrence of late payments to credit reporting agencies, Martin said.

It’s not clear whether the council could enact Martin’s ordinance. The Chicago Tribune reported that it might run afoul of the statewide ban on municipalities imposing rent control.

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Inside The Story

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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 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).