Episode 125: How Aldermen Effect Zoning and Development in Chicago with Nicholas Katsafados

Mar 3, 2022

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Thought about taking down a mixed-use building to improve your neighborhood's streetscape? Not sure where to start? Our guest Nicholas Katsafados explains how he found a niche in mixed-use buildings and what other things he is doing to contribute to redevelopment in his neighborhood!

Nicholas provides insight on how investing in mixed-use buildings differs from other types of buildings. He talks about neighborhoods and Wards along with the political implications. Nicholas elaborates on the importance of understanding Zoning and how this could be your competitive advantage. He closes out the episode with a fact-driven explanation for why higher-density Zoning helps neighborhoods emerge and the argument of this causing displacement of residents is not as drastic as portrayed in the media!

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Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Nicholas Katsafados from Cobblestone Realty Group

Link: Chicago Fair Housing

Link: Cook County Just Housing Amendment

Link: Avondale Bowl

Sponsors: ClickInvest and Kiser Group

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Guest Questions

03:22 House Provider Tip: Screen tenants consistently - abide by Fair Housing Laws!

05:05 Intro to our guest, Nicholas Katsafados!

06:15 How did Nicholas get started in investing here in Chicago?

07:43 How did Nicholas transition from his starting point of buying a condo to larger redevelopment projects?

10:55 Where is Nicholas focusing his investing today?

11:45 How do the financing requirements on mixed-use buildings differ from requirements on other types of buildings?

13:25 Any tips or advice for finding contractors to do facade work on mixed-use buildings?

15:25 What is the difference between a neighborhood and a Ward?

18:17 Are there any positives to how the Wards are delineated?

21:37 What role do Aldermen play in Zoning within their Wards?

23:32 What are some examples of how Zoning rulings impact development?

29:46 How can we as investors take action to address some of these political headwinds?

31:03 What are other ways investors can make their case when seeking support on their project's Zoning?

34:42 How can there be a balance between neighborhood development and retaining existing residents?

41:26 What is Nicholas' outlook on Chicago?

Wrap Up Questions

44:30 What is Nicholas' competitive advantage?

46:25 What is the one piece of advice for new investors looking to buy their first property in Chicago?

47:40 What do you do for fun?

48:01 Good book, podcast, or self development activity that you would recommend?

49:04 Local Network Recommendation?

49:55 How can the listeners learn more about you and provide value to you?

That's our show. Thanks for listening to another great episode!

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Production House: Flint Stone Media