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Letter from Outreach Director
Teresa Lambarry
Good Morning:
We have at least two successful CCLT homeowners who have not only started up a business but also have made it a success. Because of their busy schedules we were unable to reach them for their commentaries and bits of advice that they might have been able to give some of you who are thinking of starting your own business.
With that said, our professional feature writer, Ed Finkel, did his own research and has put together a very good article on how to go about starting a business
May I also, at this time, wish all of you a Happy Thanksgiving whether alone, with family and or friends. We all have something to be thankful for!
Enjoy the newsletter.
Teresa Lambarry
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Bruce Gottschall
President
Patricia Abrams
Vice-President
Ofelia Navarro
Secretary
Lawrence Grisham
Ex-officio Director
Calvin Holmes
Treasurer
Joy Aruguete
Joel Bookman
Eva Brown
Pamela Gecan
Timothy Hughes
Edward H. Jacob
Rosanna Marquez
Robert McGhee
Michelle Morales
Guacolda Reyes
William W. Towns
Marva Williams
Jeffrey Wright
Staff
Irma Morales
Interim Executive Director
Teresa Lambarry,
Outreach Director
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CCLT'S Homeowner Tip of the Month
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CCLT Homeowner's Know Your Responsibilities.
As a CCLT homeowner it is very important that you adhere to the responsibilities that you agreed to on the day of your closing by signing the Restrictive Covenant.
Please click here to remind yourself of those responsibilities. | |
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FIND OUT WHAT IS HAPPENING IN YOUR WARD:
Below are links to all the wards where CCLT homeowners are living.
If you don't see your ward, or if your ward has changed, please bring it to my attention. Use the link to access your ward newsletter and find out how to engage in your own community.
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I again found a new way for you to be a volunteer Captain Hope's Kids might be what you are looking for.some way to volunteer.
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Featured Article:
Starting a Small Business Takes Focus, Patience, Hard Work | |
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What does it take to start a small business? It's a combination of intangible personal qualities, very tangible granular steps, and a whole lot of hard work.
You need to ask yourself whether you're willing to work nights and weekends, how much money you need to make you happy, how big you want your business to grow and how you want to achieve work-life balance, according to Emerson. Finding your niche means specializing within your field and making sure your idea fits your skill set.
Next, as NerdWallet chronicles, partly from advice on Emerson's Twitter talk show #SmallBizChat, you need a business plan that details your target market, operational scheme and financial playbook, to which you should refer frequently in the early going.
Emerson suggests building up a year's worth of emergency savings and business operating costs as well as two years' worth of money to support your family. And then figure out how much your product or service will cost and how you will then earn a profit.
Lastly, be patient. Most small businesses take 12 to 18 months to break even, and three to four years before founders can afford to pay themselves--so Emerson suggests starting up on nights and weekends while still working your full-time job, given that timeline.
Local Resources
The City of Chicago Small Business Center offers resources for educating yourself about small businesses, writing business plans, hiring and training, finding a location and seeking out neighborhood resources such as a local chamber of commerce or Special Service Area provider. It's all at this online, city-provided one-stop shop for those looking to take the entrepreneurial path.
The city's guide lays out the county, state and federal steps one needs to take to register a business, as well as loans, grants and tax credits that an aspiring business owner can explore. The online resource also alerts budding entrepreneurs to common mistakes in starting up a business, such as not properly checking the zoning, checking for past building code violations at a location, applying for a business license, or getting up to speed on the basics of employment law.
The guide drills down into the specific licensing requirements for 18 different types of businesses, such as children's services, entertainment, home repair and construction, liquor, manufacturing and outdoor vending. There is also information on the city's special Restaurant Start-Up Program, which provides a streamlined process for those looking to open restaurants.
The Small Business Center resource also includes information on building permits for construction, renovations and repairs, as well as public way use permits, commercial driveway permits, loading zones, bike parking, and water, recycling and sanitation.
So if you're aiming to become an entrepreneur, head to that drawing board and start putting your dreams into reality. "Ideas can come from anywhere," Emerson told NerdWallet. "I think the world is still waiting on a better mousetrap."
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I am very bad about taking pictures at the closings of the CCLT units.
On October 26, 2017 though, I took advantage of the fact that I had my phone, and both the CCLT sellers and buyer at the table.
This is what the CCLT is all about. Tara Scott bought the studio unit in 2009, married had two beautiful children and was comfortable living there, but the children have grown and need more space. So she and her husband decided it was now time to move on and give someone else the opportunity of becoming a homeowner of an affordable unit.
The happy new homeowner is Amanda Callahan who will now make it her home in anticipation of her fiancé, who will be relocating to Chicago eventually from London. |
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Current CCLT Property Listings
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Loop Area
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Andersonville
Resale Unit
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Loop Area
Resale Unit
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1345 South Wabash, 60605
Condos - 1 bedroom 1 bath
ONLY 1 UNIT LEFT! HURRY!
Special Home Sales Program
- One-bedroom condominiums for $133,000
- Beautifully finished with elegant cabinetry and stainless steel appliances
- Affordable property taxes
- Premier downtown location close to lakefront, parks restaurants and public transportation
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4814 North Clark Street,
Unit 307, 60640
Price: $154,000
Please contact: Johnathan Hagen
Phone: 347.470.9189
Gorgeous views - quiet neighbors! Concrete floors and ceilings with floor to ceiling windows. Huge master bedroom with large closet and large second bedroom with closet. 2 full bathrooms - Master bathroom has 2 sinks. In-unit laundry (washer and dryer) with dishwasher and microwave. Large balcony w/included grill and patio furniture. Heat is included in assessments, and unit has central air conditioning. Near Ravenswood Metra, Lawrence Red line and Damen Brown line stops with two 24 hour bus lines (Clark #22 & Lawrence #81).
Income and other restrictions apply:
* Mortgage pre-approval by one of CCLT participating lenders
* CCLT, Homebuyer and Condo training required
Buyer must be income qualified at or below 100% AMI:
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Household Size
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Maximum
Income
100%
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1 person
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$53,200
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2 persons
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$60,800
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3 persons
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$68,400
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4 persons
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$76,000
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5 persons
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$82,100
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For more information email Teresa Lambarry @ teresa.lambarry@cityofchicago.org or call her at 312.744.5086.
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235 West Van Buren, Unit 1820
Condo 1 bedroom/1 bath
Price: $152,804
To view please contact:
Nu Van - Phone: 617.595.0478
Beautiful condo with great view!
Located in the Loop close to shopping, theaters. Unit includes stainless steel appliances, granite counter tops and hardwood flooring. New 3-acre park under construction adjacent to property. There is an I-Go car sharing location or walk to work.
Income and other restrictions apply:
- Mortgage pre-approval by one of CCLT's participating lenders
- Homebuyer, Condo & CCLT training required
Buyer must be income qualified at or below 100% AMI:
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Household Size
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Max income
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1 person
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$53,200
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2 persons
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$60,800
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For more information please email Teresa Lambarry at: teresa.lambarry@cityofchicago.org or call her at 312.744.5086.
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