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ARTICLE · 23 AUGUST 2004

Time is Running Out for Developers Working in Chicago to Comply

DLA Piper Rudnick Gray Cary
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The City of Chicago has mandated that residential real estate developers obtain a City of Chicago Residential Real Estate Developer license by September 30, 2004 and time is running out for developers to comply. Even a real estate developer whose business is based outside the City will be required to secure a Chicago real estate developer’s license if it operates within the City. Please note that single-family home owners making improvements to their own homes are exempted.

United StatesReal Estate and Construction

Article by Sandra Y. Kellman and Karen S. Way

The City of Chicago has mandated that residential real estate developers obtain a City of Chicago Residential Real Estate Developer license by September 30, 2004 and time is running out for developers to comply. Even a real estate developer whose business is based outside the City will be required to secure a Chicago real estate developer’s license if it operates within the City. Please note that single-family home owners making improvements to their own homes are exempted.

What If I Don’t Comply?

For those who have not yet started the process, it is critical that all real estate developers that are covered by the ordinance initiate this licensing process immediately. The ramifications if one fails to secure a license are serious. Specifically, if a real estate developer fails to obtain the license, the City’s Department of Planning and Development and the Department of Construction and Permits will hold approvals or building permits

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