Video: Liddiard warns tax reforms could negatively affect property owners

Potential changes to tax reforms could weaken the opportunity for home owners to use the mortgage interest deduction and eliminate 1031 like-kind exchanges for commercial property owners, says NAR Senior Policy Representative Evan Liddiard in an Illinois REALTORS® video.

“When you raise that standard deduction, you get rid of all the other itemized deductions, particularly state and local tax deduction, it pretty much takes the bottom out of the MID (mortgage interest deduction) for 95 percent of the people,” Liddiard says.

Illinois REALTORS® Treasurer Dan Wagner and Liddiard emphasize the importance of like-kind exchanges. Wagner says Illinois REALTORS® and the National Association of REALTORS® are keeping a close eye on developments. See the video.

Morning Minute: Ruggieri named to real estate journal editorial board

Illinois REALTOR® Alex Ruggieri, a partner with SVN-Ramshaw Real Estate of Champaign, has been named a member of the 2017 editorial board for Real Estate Issues, a journal produced by The Counselors of Real Estate.

Members of the editorial board contribute to the content of peer-reviewed journal by recommending topics, working with authors and writing and reviewing articles.

Ruggieri is a frequent contributor to Illinois REALTOR® magazine, writing about commercial real estate issues.

In other headlines:

Homeownership Offers Stability & Wealth Creation – KCM Blog

Distressed, Investment, and All-cash Sales Continued to Decline in 2016 – NAR Economists’ Outlook

Do a Foundation Check: 5 Things to Watch For – NAR’s Staged, Styled & Sold

Illinois REALTORS® recording Springfield building demolition

Workers watched from the intersection of Jackson St. and Fifth St. as razing of the former YWCA began Wednesday in Springfield. Note the Illinois State Capitol in the background.

Wednesday morning demolition crews began tearing down the former Springfield YWCA building, just west of the Illinois REALTORS® building and north of the Illinois Executive Mansion.

Workers used a water cannon to control dust and debris as the building was broken down.

The demolition will clear the way for the entire block to be developed into residential, commercial or a park, or a combination of the three options, according to an article today in the Springfield State Journal-Register. Jackson St. separates the structure from the executive mansion on the south side of the block. To the west is Fourth St., to the north is Capitol Ave., and to the east is Fifth St.

Watch for more photos here, including a time-lapse video of the entire project.


Try ‘cross-industry networking’ for business builder tip #4

The personal connections of REALTORS® can have a great impact on their success, and so Deena Zimmerman of SVN/Chicago Commercial suggests “cross-industry” networking in the Illinois REALTOR® magazine story “Work Smart! Business hacks to help you kick-start 2017.”

Deana Zimmerman

“I focus on commercial real estate, so I attend as many residential events as I can for two reasons,” she says. “One, it’s a huge referral opportunity for me, but I also learn so much about the residential side of the industry, which is very valuable when working with businesses who want to know where their customers live and how much they spend on their homes. Two, I also meet so many great resources for my clients when they are ready to buy a home.”

Zimmerman is one of nine REALTORS® and industry experts who offer their ideas for starting their businesses on the right foot in 2017. Get all three of her ideas plus tips from eight other contributors.

Dolan and friends keep feeding Aurora food pantry


Brian Dolan

One of the most inspiring people Aurora-area REALTOR® Brian Dolan has ever met was the late Marie Wilkinson of Aurora. Described as a social activist and credited with helping Illinois pass the state’s first Fair Housing Ordinance in 1968, Wilkinson also dedicated her life to helping the less fortunate and her accomplishments on their behalf were numerous.

As fate would have it, Dolan held a property listing for the building that would house the Marie Wilkinson Food Pantry. That eventually led Wilkinson to invite Dolan to help the pantry, and 15 years later, he’s still serving on its board of directors.

“Over the years, we have been involved with numerous charitable organizations in town,” says Dolan, a principal at Dolan and Murphy, Inc. “We’ve sponsored Aurora Boys Baseball and Fast-Pitch Softball and we’ve sponsored the traveling fast-pitch softball team named the Dolan & Murphy Shamrocks (formerly known as the Sealmasters of Aurora). My brother Danny (REALTOR® Daniel T. Dolan) has been very involved with the Annual Holiday Food Drive that benefits the Aurora Interfaith Food Pantry. But the charity I’ve been most involved with is the Marie Wilkinson Food Pantry.” Read more about Wilkinson.

Although the organization has much activity this time of year, Dolan says his involvement is year-round, as is the need to help the hungry in Aurora. He says it is rewarding to help the pantry and he is energized by many of the volunteers. But the most satisfying aspect of his involvement is when people who once sought help at the pantry return to tell stories of their own successes and to help others.

Dolan began his real estate career in 1977, earned his CCIM designation is 1988 and has specialized in industrial, commercial and investment real estate.

He was initially a member of the Aurora Board of REALTORS® and the Northern Illinois Commercial Association of REALTORS® (NICAR).  He served eight years on the NICAR Board of Directors and four years as chair of the Sponsorship Committee. With Illinois REALTORS®, he served on the Commercial Industrial Investment Committee in 2013 and 2015. Served on Public Policy and Governmental Affairs Major Investment Group in 2013.

He’s also a principal in Dolan and Murphy Management, LLC, which manages nearly 1 million square feet of retail, office and industrial properties for more than 15 years. He’s been involved in more than $30 million in real estate transactions over the course of his career.

Read the Illinois REALTORS® blog for weekly stories about the community involvement of Illinois REALTORS® during the association’s 100th anniversary year. If you have an idea for a REALTOR® to highlight with an article, please send it to: bkozar@illinoisrealtors.orgTo read more stories like this one, go to: #MemberMonday #IAR100yearsstrong