February 2012
Volume 100 No. 101 

Cagan Hosts Seminar  

Home Owner Association Leaders


Date: March 8th Time: 6:30 PM

Place: 3856 Oakton Street, Skokie, IL 60076 


Light Supper, Speakers at 7 PM, Topics: Real Estate Taxes | HUD/FHA Certification | Energy Efficiency & Subsidies


Cagan recognizes that on-going education and current information is critical to enhancing the ability of Homeowner's Associations to govern effectively. We invite and encourage you and your fellow board members to join us for our up-coming Seminar, March 8th at 6:30 PM. The following Speakers will provide you with state-of-the-art direction and an opportunity to network and ask questions. A light supper will be provided. Please respond via email to jnelson@cagan.com with the name of your building and board members attending. We look forward to seeing you and enhancing your efforts in caring for your communities. 



Seminar Presentations    



Real Estate Tax Assessment - Valuation Appeals


David R. Bass
Thompson Coburn LLP d/b/a Thompson Coburn Fagel Haber

dbass@thompsoncoburn.com | 312-580-2325   


Frederick F. Richards III
Thompson Coburn LLP d/b/a Thompson Coburn Fagel Haber

frichards@thompsoncoburn.com | 312-580-233  


David and Frederick represent property clients in their valuation appeals, challenging their property's market value and assessments before the Cook County Assessor, the Cook County Board of Review, the Illinois Property Tax Appeal Board (PTAB), and other Assessors and Boards of Review throughout Illinois, and the Circuit Court of Cook County. Such appeals may be based on valuation issues-recent sales: appraisals; vacancy issues; partial assessment concerns due to property conversion; income generated by a property; and legal matters. In addition, they have experience in procuring real estate tax incentives.


Thompson Coburn LLP d/b/a Thompson Coburn Fagel Haber

55 E. Monroe, 37th Floor
Chicago, IL 60603


HUD/FHA Certification and the Condominium Lending Climate


Steve Higgins
Direct Mortgage Lender
People's Home Equity, Inc.


Steve Higgins is a mortgage lender for Peoples Home Equity, Inc. He is a veteran in the mortgage banking industry with over 13 years experience. He will enlighten us regarding the current climate in lending for condo buyers. This will include credit criteria, down payment, and mortgage products available in today's market. Steve will also talk about the advantages of getting your property/project approved for HUD/FHA financing. Steve is a Mortgage Banker with Peoples Home Equity, Inc.


Steve Higgins | Direct Mortgage Lender  

People's Home Equity, Inc. | 900 Jorie Boulevard
Oak Brook, IL 60523 | Work: 630-368-9177 | Mobile: 630-624-8038 Fax: 630-368-0836


Incentives for Energy-Saving Upgrades for Peoples Gas & North Shore Gas Customers


Glenn Maxam | Trade Ally Liaison
Peoples Gas & North Shore Gas Natural Gas Savings Program   


Glenn is the leading HVAC expert for Franklin Energy spearheading outreach for the Peoples Gas and North Shore Gas Natural Efficiency Programs. Prior to joining Franklin Energy, Glenn served as HVAC Director responsible for providing technical and managerial direction for the HVAC industry for fifteen years in five different states. As an owner-operator of multiple businesses he has taken the hands-on approach within his career and been very successful in saving energy costs.


Glenn Maxam | Trade Ally Liaison
Peoples Gas & North Shore Gas Natural Gas Savings Program
5450 N Cumberland Ave, Suite 125 | Chicago, IL 60656
312.878.0038 ext. 2606 Office | 630.742.4669 Cell gmaxam@franklinenergy.com
www.peoplesgasdelivery.com | www.northshoregasdelivery.com


2011 Natural Gas Markets: Year in Review


Information provided courtesy of CenterPoint Energy

Downers Grove, IL  


The unprecedented growth in production was the most important feature of the natural gas industry in 2011. Dry production increased by 5 billion cubic feet per day (Bcf/d) last year - the biggest annual increase on record that spans back to the 1930s. Shale production has increased twelvefold in the last decade and proved reserves have nearly tripled in the last three years.

Growth in production also brought growth in infrastructure investments. The EIA estimates there were more than $12 billion worth of natural gas infrastructure investments made in 2011, adding 3,800 miles of pipeline assets. Demand growth counterbalanced the increase in supply as colder-than-normal temperatures at the start of the year pushed storage inventories below the five-year average. As 2011 progressed, however, weather continued to play a key role for natural gas demand. Extreme heat spread over the country to produce the second hottest summer on record, with the average temperature only one-tenth of a degree away from the all-time high set in 1936.

Currently, it is difficult to ignore the storage glut. Thus far, mild winter temperatures have created a scenario where the end of the withdrawal season will likely transpire with storage levels above 2,000 Bcf. That, in turn, could lead gas in storage to reach maximum operable limits before the end of the summer and force some producers to shut-in their wells. Under this scenario, marketers would be left scrambling to find a home for supply and prices could tank.

On the supply side, increasing controversy about hydraulic fracturing ("fracking"), a process instrumental in extracting natural gas from shale rock, may lead to disruptions in recent supply growth. An outright ban on fracking could send prices skyrocketing.

Looking ahead, it is easy to imagine how fracking may represent a major crossroad in the natural gas market this year. Regardless of how things play out, we don't expect 2012 to be a dull year in the energy markets. It is also difficult to predict how consumers will be affected.



Are you or your homeowner's association trying to build a nest egg? Here is an option to consider from North Shore Community Bank.


The Benefits of a MaxSafe Money Market   

With fifteen separate community banks in Illinois and Wisconsin involved, a MaxSafe Money Market can combine FDIC insurance protection to offer fifteen times the usual amount of coverage. A custody account through their affiliate, Wayne Hummer Trust Company, N. A., is opened via a MaxSafe professional, and funds are deposited on your behalf across those fifteen banks. You will receive a single consolidated statement and one document at the end of the year for tax reporting purposes, but have the FDIC insurance coverage equal to having your money on deposit at 15 individually chartered banks. Each insured bank in the MaxSafe program has full FDIC insurance coverage and each is a member of the FDIC.

Current CD Options

MaxSafe is running  a "Step Up" CD  program with a rate of 0.50% for the first 6 months increasing to 0.75% for the next six months and 1.0% for the last six months. You can break the CD every six months without penalty. You need a checking account to open it and a $5,000 minimum in the CD.  This is subject to the regular FDIC single bank insurance level. [The aggregate APY is 0.75% for 18 months.].


Max Safe: $3.75MM in FDIC insurance. One statement. 

MaxSafe Certificates of Deposit
Interest Rate APY


3 months 0.15% 0.15%
6 Months 0.20% 0.20%
9 Months 0.25% 0.25%
12 Months 0.35% 0.35%
18 Months 0.45% 0.45%
24 Months 0.75% 0.75%
36 Months 0.95% 0.95%
48 Months 1.14% 1.15%

Information provided courtesy of North Shore Community Bank. For more information, contact North Shore Community Bank & Trust Company, www.nscbank.com

Ezra Jaffe
Senior Vice President - Senior Lender

Wintrust Commercial Banking at
North Shore Community Bank & Trust Co.
7800 Lincoln Avenue, Skokie, IL 60077
P: 847.853.3574|M: 312.502.6014|F: 877.472.9055|E: EJaffe@NSCBank.com


New Employee: Janet Nelson


Janet Nelson is the new Operations Manager. She will advance our proactive communication with our homeowner association boards and leaders. She is committed to fulfilling the Cagan mission of responsive, proactive experienced service. She will also be introducing prospective clients to Cagan's superior service. Janet has served as an executive board officer of a north side Chicago condominium association. She has also served as the Marketing Director for Gary R. St. Pierre, CPAs in Mt. Prospect, Illinois. As a Customer Operations Representative for Newark Electronics, she coordinated operations and service issues for supply chain fulfillment. She also served as a production and operations engineer for WGN Television and Radio. Janet has an undergraduate degree from North Central College in Naperville and a graduate degree in business from Keller Graduate School of Management. Janet is also a docent for the Chicago Architecture Foundation.


New Employee: Angela Sorrisso

Angela began her career with Cagan in December of 2011. She brings 10 years of assistant managerial experience to Cagan. She now works with Cagan Property Manager Bruce Karbal in providing excellent service to a group of our client buildings. She felt really welcome and continues to enjoy the fast paced environment. She is also the proud mother of two sons, Anthony and Brandon.

New Employee: Ben Erenberg

Before Joining Cagan last month, Ben worked for Zweig Inc, a property management company based out of Skokie, Illinois. As a Property Manager, Ben has managed over 50 commercial and residential properties on the south and west sides of Chicago, IL. Ben has also been responsible for Marketing and leasing. Ben has prior management experience working as a logistics coordinator/warehouse manager for a wholesale distribution company. Ben studied at Rutgers University in New Jersey and graduated in May 2009, with a Bachelors degree in Economics. Our clients have much to look forward to given Ben's expertise.

New Employee: Ioan Gurau (Big John)


John is our new courier. He goes by the name "Big John".  His first priority is filing bonds and documents in Court.  He will also make bank deliveries and a variety of building deliveries. John is a delightful personality and may even help pass out welcome packages to our new building clients.


Chicagoland Condo, HOA & Co-op Expo 11/2011  


A big Thanks to all that were able to make it to Navy Pier at the Chicagoland Condo, HOA & Co-op Expo! We were glad to see you at our booth for Cagan's first trade show. As for the rest that were unable to make it, we'll see you next year!


In This Issue
Cagan Hosts Seminar for Home Owner Association Leaders
2011 Natural Gas Markets: Year in Review
Are you or your homeowner's association trying to build a nest egg?
New Employee: Janet Nelson
New Employee: Angela Sorrisso
New Employee: Ben Erenberg
New Employee: Ioan Gurau
Chicagoland Condo, HOA & Co-op Expo 11/2011
How Can we help you?

-Contact us at our Offices-


3856 Oakton Street

Skokie, IL 60076

(847) 679-5512



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