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Blockbusting was a business practice in the United States in which real estate agents and building developers convinced residents in a particular area to sell their property at below-market prices. This was achieved by fearmongering the homeowners, telling them that racial minorities would soon be moving into their neighborhoods.
The Chicago metropolitan area – also known as "Chicagoland" – is the metropolitan area associated with the city of Chicago, Illinois, and its suburbs. [2] With an estimated population of 9.4 million people, [3] it is the third largest metropolitan area in the United States [4] and the region most connected to the city through geographic ...
A leasing commission, or LC for short, is a fee paid by a commercial real estate landlord to a real estate broker in exchange for introducing a tenant that successfully completes a lease with the landlord. It is normally paid in the form of a percentage of the tenant's yearly rent.
Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example, [11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the ...
Chicago and its suburbs is home to 35 Fortune 500 companies and is a transportation and distribution center. Manufacturing, printing, publishing, insurance, transportation, financial trading and services, and food processing also play major roles in the city's economy.
The Chicago metropolitan area represents about 3 percent of the entire US population. Chicagoland has one of the world's largest and most diversified economies. With more than six million full and part-time employees, the Chicago metropolitan area is a key factor of the Illinois economy, as the state has an annual GDP of over $1 trillion. [7]
Discover the latest breaking news in the U.S. and around the world — politics, weather, entertainment, lifestyle, finance, sports and much more.
The National Association of Realtors (NAR) is an American trade association [5] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [6] making it the largest trade association in the United States [7] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
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