The Wasserblawg
Information for Chicago-area residential real estate buyers, sellers, and brokers.
Cook County Property Tax Bills Update
June 18, 2026
After a months-long delay, the tax bills are now available online with payment due by October 1, 2026. Cook County homeowners can find their bills on...
Do Buyers Have to Use Earnnest?
June 12, 2026
Buyers ask our firm about Earnnest at least once a week.
8 tips for buying your rental property from the landlord
June 4, 2026
It can be tempting to buy your rental from your landlord. However, you may need to be more diligent than if you were buying the traditional way. Here's what I'd do.
Why tenants buy their rental from landlords
May 28, 2026
Of course, not having to move is a top motivator. But if you're concerned that you're choosing convenience over a poor financial decision. Here are some reasons you might consider buying your rental.
Should I sell my rental property to my tenant?
May 20, 2026
If you're a landlord thinking about selling, your best buyer may be your tenant. For many landlords, this type of transaction can make good sense. Here's why so many do it.
2025 Cook County Property Tax Exemption applications available March 9, 2026
March 5, 2026
Cook County homeowners, tax exemptions can help lower your property tax bill significantly. And now is the time to apply for your 2025 exemptions. There's a lot to know. So, let's jump in with an overview and useful links.
"What if I don't shovel?" Chicago snow shoveling law and etiquette
December 8, 2025
Tired of shoveling already? Few Chicago homeowners WANT to head out and shovel everytime it snows. So, do you HAVE to?
Brokers, strengthen and speed your transactions with these contract fixes
December 3, 2025
You move fast. Clients calling, showings stacking up, offers flying. We get it. But when contracts come in with missing details, the entire deal slows down—sometimes by days.
Cook County Assessor's website address update
September 2, 2025
As of Monday, August 18, 2025, the Cook County Assessor's website domain changed to cookcountyassessoril.gov (from cookcountyasserror.com).
When do buyers need to confirm they can get homeowners insurance?
June 2, 2025
Once a seller accepts your offer to buy their home, you'll want to secure homeowners insurance right away. But why so early? Can't it wait?
Do you NEED a real estate broker to buy a place in the Chicago area?
April 2, 2025
As the real estate industry evolves, buyers have been asking if they should hire a real estate agent to help them buy real estate. Our answer is an emphatic...
The condo has a no-pets policy. What about your ESA?
March 25, 2025
So, you found a condo you want to buy. But your ESA (Emotional Support Animal) does not meet the pet restrictions of the Homeowners Association (HOA). Or maybe you already live in a no-pets HOA and now need a furry friend for support. How do you get an Illinoi…
2024 Cook County Property Tax Exemptions are now available
March 10, 2025
Homeowners, in Cook County tax exemptions can lower your property tax bill significantly. And now (March 2025) is the time to apply for your 2024 exemptions. There's a lot to know, so here's a good overview.
Brokers, what if you're not ready for the 2025 real estate contract updates?
February 10, 2025
The new CAR contract updates and the 8.0 are here! But, from what I hear, training has been uneven for real estate brokers.
5 Hot Topics for 2025 in Chicagoland Real Estate
January 10, 2025
Brokers, welcome to 2025! As we start the New Year, here are five things our legal team is paying close attention to. You should be too. Here they are...
Yes, John and I still attend buyers' closings
December 18, 2024
Brokers, I thought I'd share a story that explains why John and go to buyers' closings in person, when so many other attorneys don't. A young woman sits in a bland, minimally furnished room inside the nondescript title company office. I walk down the hallway a…
Online privacy: How to blur your home on Google Maps
September 9, 2024
For many of our real estate buyers and sellers, maintaining privacy online is important. Which is why last year Mike posted these tips to...
Can I buy real estate without a broker?
May 16, 2024
The real estate industry is always shifting and evolving. Recently, lawsuits against the National Association of Realtors and national brokerages have resulted in new commission structures for many real estate brokers....and many questions from clients.
Mike and John, now rolling as partners of the firm
March 29, 2024
Please join me in congratulating my new (and first) partner in the firm, John Aylesworth. John's contributions to our team's growth and evolution have been...
Timing your last mortgage payment before closing
February 12, 2024
When should you make your last mortgage payment? When you're selling your home, it's a detail you might overlook or even overthink. So read on for helpful information about the payoff process and the timing of your last payment before you close your sale.TL/DR…
Do I NEED an attorney for my Illinois real estate closing?
January 22, 2024
When it comes to buying and selling property, Illinois is considered an "attorney state." Lawyers participate in the real estate sale process as a matter of custom and practice. But there are no laws or ordinances that require a buyer or seller to use one. Tha…
The easy way to transfer property upon death
January 4, 2024
Sure, this may not be the most pleasant subject. But it's important...and we can help.If your home—a house, condo, or townhouse—is in Illinois, you might consider using our new TODI Inheritance Service to leave it to a beneficiary. A TODI is a Transfer on Deat…
Buyers and sellers: new lending guidelines (and what to do about them)
November 7, 2023
Fannie Mae and Freddie Mac have both made significant changes to their guidelines for approving loans in condominiums and co-ops. This is a real game changer for buyers and sellers alike. Lenders must follow these guidelines in order for loans to be guaranteed…
What's Wrong with Free Little Libraries?
October 10, 2023
Chicago alderpersons will soon vote on a proposed ordinance restricting property owners from installing free little libraries in front of their homes.How can anyone object to free libraries in Chicago? Seems silly at first blush. We should always support neigh…
What are the seller’s typical closing costs?
September 26, 2023
Selling a home in the Chicago area (or really anywhere), should be easy enough: buyer gives seller money, seller gives buyer keys and a deed. Oh, if only it were that simple.
NEW ADDRESS: 1 N. State Street
July 28, 2023
We're on the move! On August 28, 2023, our law firm moves to the corner of State and Madison, the center of all Chicago addresses.
Do you need a lawyer to transfer a title?
July 18, 2023
A quitclaim deed is a quick way to transfer the property title. And in Illinois, a lawyer is not required to complete one, you can do it yourself. That said, hiring an experienced lawyer to execute a quitclaim can prevent expensive mistakes, like this.
Selling as-is? The buyers may still ask for concessions
July 10, 2023
Selling a home as-is should be fairly straightforward. The seller doesn't want to make any repairs or changes and the buyer understands this when they make their offer. However, the reality can be very different.
New Illinois county recording fees starts 07-01-23
June 7, 2023
Buying or selling real estate in Illinois? If you close after July 1, 2023, your county's recording fees will include a new $9 increase. But there's a bright side to it.
Why won't a buyer's lender approve this loan?
June 1, 2023
Buyers who use lenders are often surprised when the lender stops the sale from moving forward. Thankfully, our real estate law firm excels at deciphering and working through lender issues. Here's a story about a buyer, an insistent lender, and how we can help …
Buying real estate with co-ownership?
May 23, 2023
So you're buying a house with someone who is not your spouse. From co-housing, communes, and intergenerational housing to friends just buying a place to share, we are seeing more and more deals involving co-ownership: multiple buyers that are not married or in…
Pros and cons of post-closing possession
April 12, 2023
Thanks to a continued low inventory of homes for sale in the Chicago area, our firm expects that 2023 and 2024 will bring multiple offers, when sellers gets competing offers from multiple buyers. This can inspire buyers to get creative with their offers—includ…
Post-closing privacy for Chicago-area home buyers: Limiting access to your private data
January 4, 2023
We all expect a measure of privacy in our homes. But, in the information age, privacy is no longer a given. In fact, there is a lot of easily acquired information online, particularly after a real estate purchase.
Mike Likes: 2023 Chicago International Puppet Theater Festival
December 30, 2022
One of the things my team and I love about Chicago is Puppet Bike, which I hear no longer exists (sigh). As a kid in the 'burbs, I couldn't get enough of Garfield Goose, Dirty Dragon, Romberg Rabbit, and Mr. Moose.
2022 in Review - Trends We Will Watch in 2023
December 27, 2022
We'll leave it to the economists and other pundits to report and contextualize this year's numbers and next year's forecasts. Here are nine local real estate trends we are watching as we look back on 2022 and ahead to 2023.
New for 2023! Illinois smoke detector law
December 5, 2022
As of New Year's Day, all smoke detectors in residential dwelling units must be...
Attracting buyers when interest rates are high
November 21, 2022
What could be more attractive to buyers right now than buying with a (well) below-market interest rate on their mortgage?Interest rates may be rising, but there are still ways to win in this market. Sellers holding assumable mortgages may have a leg up on the …
Cook County announces state equalization factor for 2022 tax bills
November 2, 2022
Cook County homeowners, our property tax bills are one step closer to hitting our mailboxes. Why? Because the final Cook County 2021* State Equalization factor was announced on October 18, 2022. So, what the heck is equalization?
“They charged what?!” Buyers, here’s how to avoid surprises when hiring a real estate lawyer
October 13, 2022
One of the easiest ways to protect your interests as you buy a home is to hire an experienced, well-qualified lawyer. Your first instinct may be to search for the lowest price. But before you do that...
Get to know CookCountyAssessor.com
October 12, 2022
Whenever a client hires our firm in connection with a Cook County real estate purchase or sale, one of the first things we do is check out the Assessor's web site. The property search function provides homebuyers, owners, and the professionals that represent t…
Tax hike?! 3 ways to fight Cook County property assessments
October 9, 2022
A property’s assessed valuation has a direct relationship to the amount of upcoming property tax bills. Savvy property owners (including readers of this blog) know that they can—and should—fight back by appealing those assessment notices. Here's how.
Where are the Cook County property tax bills?
October 4, 2022
It's October! Where are the Cook County property tax bills? If you pay the bill directly, you may have been wondering if they forgot you. They didn't.It's not just you. The bills for the second installment of Cook County property taxes (generally due August 1)…
A bathroom mirror is a fixture in a home—or is it?
August 4, 2022
My phone rings. It’s Amanda, a client in the last steps of buying a house with her husband James. She’s calling as they take the final walk-through before the closing the next day. I hear the upset in her voice as she tells me,
Complicated? It’s all right.
June 1, 2022
Defaulted mortgages, liens, judgements and more did not deter us from helping this seller close, although they certainly made it challenging. From the first call, the pain in the seller’s voice was apparent. The caller sounded tired, worried and a little scare…
New! 2022 updates to the Illinois Residential Real Property Act
May 18, 2022
Brokers, On May 13, 2022, Governor Pritzker signed the Illinois House Bill 4322. This bill updates the Ilinois Residential Real Property Disclosure Act by: adding a 24th disclosure, changing the timing of disclosures, allowing email or e-delivery, and changing…
Do I HAVE to pay income taxes?
April 12, 2022
It’s our most annoying obligation as Americans. How many of us have thought about not paying taxes? As a real estate attorney, the heart of my
The awful truth about my first real estate closing
March 22, 2022
It was summer of 1991. The sun beat down on my un-airconditioned car as I composed myself. After four years as a trial lawyer, I was walking blindly into my first real estate closing. My boss gave me no notice. No briefing. No training. The ‘file’ was a crumpl…
Brokers, when clients ask about the new title company disclosures...
February 7, 2022
Here’s an important update for real estate brokers. As of March 1, 2022, there will be a change in the Disclosure of Financial Interest form that Illinois title insurance producers (sellers’ lawyers, some brokerages, etc.) must provide to consumers as they con…
Naming Names (should brokers list an attorney on the client's contract?)
January 27, 2022
Brokers, I'm talking about naming names on purchase and sale contracts. The standard forms give you room to identify the deal participants – buyer and seller, natch. Yourselves. The lender. The homeowners' association. And yes, us lawyers too.Adding the lawyer…
The who, what and how of Chicago blue cart recycling
January 16, 2022
As many of my clients are new to the Chicago area, I’m often asked about recycling, typically as we sit around the closing table. And, since there are updated rules and schedules, I thought I’d jot down a quick overview and links for Chicago’s nifty recycling …
The New FNMA Guideline Everyone Should be Aware of Before Buying a Condo
December 6, 2021
by Michael H Wasserman Tragedy in Sunrise, Florida and now Waukesha, Wisconsin. Authorities ordered the emergency evacuation of another condominium building late last week. Deemed to be at risk of imminent collapse. Structural and life safety problems noted af…
Six Ways That Unsolicited Purchase Offer Might Not Be As Great A Deal As You Hoped For
November 21, 2021
by Michael H. Wasserman Flippers. Wholesalers. I-buying fin-tech disrupters. Publicly traded REITS. Private equity firms. Boot-strap investors. All out on the prowl for opportunities. It's never been easier for Chicago area owners to sell homes directly. But s…
They Asked for What?
August 24, 2021
A pervasive problem for some in contemporary society splits us into two camps. They read the same things you do. They take wildly different views of what those writings mean. They are not easily persuaded by reason or the advice of experts. They acknowledge le…
Who's in Charge of Fixing Miami's Aging Condos? (and what about here in Chicago?)
July 21, 2021
The disasterous 2021 building collapse in Miami calls to light a critical challenge for all condo owners, including owners here in Chicago. Who decides if repairs and who pays? Hint: the owners.
Ink Color Matters
July 20, 2021
by Michael H. Wasserman It turns out that ink color really does matter. At least it does for Kane County recordings. This alert from one of our favorite title companies today: **It has just come to our attention that Kane County will charge an additional $22 …
Do I HAVE to shovel? Chicago snow shoveling law and etiquette
January 26, 2021
Set aside any discussion of climate change or COVID for a moment. It’s winter. It’s Chicago. It snows. As a homeowner, you owe it to your friends, family, neighbors and delivery people to keep the sidewalks free of snow and ice.In truth, it’s not just neighbor…
In the news: Relief for the mortgage biz during shutdown
January 16, 2019
By Michael Wasserman Whew. Real estate buyers, sellers and professionals all exhaled with relief last Friday. After lobbying from the mortgage industry, the Treasury Department has deemed Internal Revenue Service clerks (who process lending forms) as "essentia…
In the news: Investing in Chicago's gentrifying neighborhoods
January 16, 2019
Chicago is an ever-changing demographic kaleidoscope. Ethnic migrations, land-use transformations, and varying degrees of economic prosperity all stir the real estate pot and eventually touch every corner of the city. So, how does a home buyer or real estate i…
Avoiding drama at the final walk through
January 16, 2019
In real estate, one would think a final pre-closing walk through is pretty straightforward: Is the house still standing? Are the sellers belongings removed? Are the shower heads and appliances still in place? Are there new holes in the walls or broken windows?…
Smart tips for choosing a real estate agent
January 16, 2019
Selling or buying a home in Chicago? Hiring the right real estate agent can make a huge difference. So, how do you find a good fit? Most folks ask friends for their recommendations for agents—and you can ask us too. Yet once you land on a name (or more), it co…
Let’s kick discrimination out of real estate
January 16, 2019
Discrimination is an ugly, pervasive problem. Even in real estate. Americans have come a long way over the course of history, but we still have work to do, especially in Chicago. I can think of at least three areas that need work: the undervaluing of many mino…
Good for Chicago: Gilda’s Club Chicago
January 16, 2019
Nothing is more personal than cancer. It affects the person diagnosed as well as everyone around them. Gilda’s Club Chicago provides support and resources to those living with cancer,
The buyer’s guide to homeowners insurance
January 16, 2019
It’s exciting to find a home to buy and have a signed contract in hand. This is when most home buyers start thinking about the fun stuff, like remodeling and decorating. Yet many forget one important step: securing homeowners insurance—a misstep that could der…
Good for Chicago: Free music school for kids
January 16, 2019
At our firm, music is a big part of our team's lives. We enjoy concerts and festivals, and always play tunes in the office. Further, we believe there's a strong connection between school achievement and musical aptitude. Our team is quite pleased to support a …
Good for Chicago: Illinois Legal Aid Online
January 16, 2019
Working thru divorce, foreclosure, domestic violence, discrimination claims (and really, most legal matters) often involves complex procedures, strict timelines, and—of course—tons of paperwork. Jumping thru all the right hoops can be exasperating...more-so fo…
Good for Chicago: Reading in Motion
January 16, 2019
One thing we don’t love about Chicago is its literacy problem. Our city has one of the lowest adult literacy rates in the country. Thankfully, Reading in Motion works hard to reverse this trend by helping our youngest students learn to read in some
Should lawyers protect clients from wire transfer fraud? I say YES!
January 16, 2019
By Michael Wasserman In 2017, the FBI reported that wire transfer fraud was up 480% in real estate transactions. It’s a frightening number. Yet more and more, I’ve heard that real estate lawyers won’t discuss transfer instructions with clients—that they leave …
HRRA: Illinois' remedy against reckless contractors
January 16, 2019
Before you decide to remodel (or sign on the dotted line), know your rights—and the limitations—provided under the Illinois Home Repair and Remodeling Act (HRRA). The HRRA gives homeowners civil remedies against reckless contractors. It’s extra protection
The who, what and how of Chicago blue cart recycling in 2018
March 18, 2018
Remember to empty and rinse every item. Image from Recycle By City. By Michael Wasserman As many of my clients are new to Chicago, I’m often asked about recycling, typically as we sit around the closing table finalizing purchases. And, since there are updated …
With federal tax reform looming, should I prepay 2017 Cook County property taxes?
February 12, 2018
Paying property tax bills before the end of the 2017 may help some owners save on their federal income tax liabilities.
We hit 100 Yelp reviews! Read the good, the bad and the indifferent
February 12, 2018
One hundred reviews ago, our firm didn’t take Yelp seriously. We knew word of mouth was important, and that Yelp was an easy way for people to leave reviews about pizza joints, taverns and such. But then Yelp grew. As did our reviews. And they were mostly good…
Celebrating Thanksgiving with a Side of Gratitude
February 12, 2018
Our real estate law firm loves Chicagoland. We live here; we work, cycle and play here. Most of us grew up here. We give back to our community here too through “Thanks to You,” our charitable program. With great pride and gratitude, we have delivered more than…
Help! My Neighbor’s Old Tree is Growing Over my Roof
February 12, 2018
Let’s say about 100 years ago, a family planted an oak tree on the edge of their property. Over generations it’s grown into a magnificent tree that provides summer shade, autumn color and a swing for the neighborhood kids. You probably even liked the tree when…
Protect your property from mortgage fraud (FREE!)
February 12, 2018
When it comes to identity theft, credit card spending is only the tip of the iceberg. Not only are thieves using stolen information togo shopping on your Visa card, they are scamming medical insurance, falsifying citizenship / immigration status and travelling…
The Equifax data breach and you — 6 steps to take now
February 12, 2018
Identity thieves hit a major credit reporting agency—hard. Millions of consumers’ confidential identity information has been compromised. Equifax, one of the big three credit reporting agencies announced that a massive security breach took place earlier this y…
Heroes Home Advantage - happy Veterans' Day
February 12, 2018
I am happy to announce my affiliation with Heroes Home Advantage, a real estate program designed to reward military veterans and those serving our country on active duty, with fire or police departments, teachers
Home owners: Stay safe by knowing these 7 features of your home
February 12, 2018
There are a couple of things ALL home owners should know about their abodes. The wonderful Art of Manliness blog hits this point very well in a recent post identifying spots in the home that every owner should be familiar with for safety and maintenance
What to do when drones fly near your home
February 12, 2018
Imagine a quiet evening on the deck of your new home when—out of nowhere—a noisy drone begins hovering around your property, almost certainly snapping photos or video. It’s like Space Invaders meets Gladys Kravitz. So what do you do?
Zoiks! Real estate scams up 480%
February 12, 2018
You read that right, A 480 percent increase according to a May 2017 PSA from the FBI. Its Internet Crime Complaint Center (IC3). Scammers are targeting wire transfers with alarming frequency. As state law mandates the use of wire transfers for most real estate…
Cleaner. Leaner. Still generally civil. Check out our new website!
February 12, 2018
We’ve updated mhwasserman.com to be user- and mobile-friendlier. From streamlining the look and including reviews to adding photos of our team, we’ve made it easier to help sellers, buyers and brokers understand how we get them to the closing table on time, as…
Meet John Aylesworth
February 12, 2018
I’m so very happy to welcome attorney John Aylesworth to the practice. He joined us in February 2017 and our clients and colleagues have been reaping the benefits of his good counsel all springand summer.