Chicago Mortgage Group INSIDE THIS ISSUE

Chicago Mortgage Group INSIDE THIS ISSUE

Volume 1 Issue 2
Fall-Winter 2008
[email protected]
MEMBER SPOTLIGHT:
Chicago Mortgage Group
by Kelsey Gonzalez
INSIDE THIS ISSUE
From the President ................2
From the Executive Director..........2
At a time when mortgage brokers are dropping
like flies, whacked down in mid-flight and
devoured by tightened underwriting standards
and the virtual demise of wholesale lending,
Chicago Mortgage Group is going strong.
Business Reviews ..................3
During the past five years, the residential and
commercial brokerage firm, incorporated in
2003 by Chris Martorano, has consistently realized an average of $100 million per year in
loan originations. Although third quarter profits
are down, they are on track to hit the same
mark for end of 2008.
Alderman’s Update ................7
No small feat considering that from September
2005 to September 2008, the Illinois
Department of Financial and Professional
Regulation reported a 31 percent drop in mortgage broker licensees. And, according to a
recent report from the U.S. Bureau of Labor
Statistics, mortgage-related employment across
the nation dropped nearly 15 percent from
September 2007 to September 2008 alone.
Winterfest Schedule............4-5
Lane Tech Admissions............6
19th District Report ...............6
Managing Cash Flow..............7
New Chamber Members . . . . . 8
Canine Rescue ......................8
Winterfest Weekend
Saturday, Dec. 6th 5-9pm
Sunday, Dec. 7th 1-5pm
Kick off the holiday season by
gathering with friends at our
Honesty, guts and good old-fashioned hard work spell
success for Chris and Kim Martorano
So, you may wonder, exactly who is the boss?
“Many of these brokers were out to do as many
deals as they could for the biggest paycheck.
Quantity over quality is not our philosophy,”
Chris snorts disdainfully after a discourse on
Wall Street greed, less-than-ethical brokers and
the nation’s current economic crisis. “Our clients
mean the world to us and they know it.”
Though larger banks have tightened the belt,
especially on new construction and condominium financing, the brokerage has realized continued success by shifting somewhat toward
niche products available primarily through
smaller banks and other boutique lenders.
Brian Mehta, who has worked with Chicago
Mortgage Group on four residential mortgages
during the past decade, can vouch for this.
“Many of us homeowners don’t know the
nuances of the mortgage world, but Chris does.
He will go through the contract, the legal-ease,
what’s going on in the community….all of
it…and fight for everything you deserve.“
Annual Tree Lighting
at John’s Place
2132 W. Roscoe
at 5pm
“These guys are a one-two punch,” says managing
director John Lindstrom. “I know I’m going to get
the same response from either of them, no matter
who I ask.” He pauses and chuckles, adding, “Who
I ask is just a matter of the mood either one of them
is in that day.”
with Alderman Waguespack
“Chris is definitely the head-honcho,” says Kim
(although she is known to most of the mortgage
consultants in the company as “The Guts”). Chris
insists that, without her, nothing runs right.
On Sunday afternoon, bring
and then enjoy late night
holiday shopping and
libations at all your favorite
boutiques and restaurants.
the family for children’s activities, horse-drawn sleigh and
“Kim runs a tight ship,” agrees Mehta. “She makes
sure the works gets done.”
trolley rides and, of course,
Their joint venture in business and marriage means
the couple spends roughly 22 hours a day together.
They also share the responsibility of raising their
two children, Jessica (12) and Jeremy (9). Both are
quick to point out that chemistry alone, doesn’t
account for their nearly decade-long relationship.
Essentially, their marriage works in the same way
Roscoe Village is the
continued on back page
Santa!
perfect neighborhood
for the holidays.
Entry is FREE
and open to the public.
2008 CHAMBER OFFICERS
MESSAGE FROM THE PRESIDENT
A
s I write this message we are in the midst of dramatic times, just days
from a historic election. The nation and world are gripped by a financial
crisis. It’s times like this when it’s a good idea to pause, take stock of all
our blessings and remember the many things we have to be thankful for.
In this light, I would like to wish all of you a happy, joyous and prosperous Thanksgiving and holiday season.
President
Mike Green
Village Tap
Vice President
Guy Grundhoefer
Dun-wel Lithograph
Treasurer
Ron Kinn
Skyline Insurance
Secretary
Kim Martorano
Chicago Mortgage Group
Directors
Frankie Andrae
Original Expressions on Roscoe
Lindsay Dressman
Fifth Third Bank
Colleen Flood
Four Treys Tavern
Carol Ingmanson
DeVry University
Jenna Wilayto
Helios Center for Movement
Staff
Executive Director
Mary Markarian
2
Mike Green
I hope you will come out to enjoy the wonderful Winterfest celebration
we have planned in partnership with Roscoe Village Neighbors.
The festivities will be held Saturday, December 6th from 5 to 9pm
and again on Sunday, December 7th from 1 to 5 pm.
In this newsletter, you’ll find details of all the activities, from our holiday tree lighting with Alderman
Waguespack to a trolley that will transport you from one festivity to another. I hope you will consider celebrating locally the wonderful shops and restaurants right here in Roscoe Village.
If you own a business and have not done so already, I strongly encourage you to join and become
involved with the Roscoe Village Chamber of Commerce. More then ever, the businesses in our
community need to come together to support one another. For more information, check out our
website at www.rvcc.biz.
Once again, have a happy, healthy and prosperous holiday season. I hope to see you soon in
Roscoe Village.
Cheers, Mike Green
LETTER FROM THE EXECUTIVE DIRECTOR
Welcome to our second issue of INSIGHT!
We’re gearing up for the holidays here at the Chamber and are busy putting the final touches on Winterfest 2008. One huge addition this year is that the light poles along
Belmont, Damen and Roscoe will be adorned this season with six-foot candy canes. Together
with our partner RVN, we continue to offer this delightful version of a small-town seasonal
celebration right here in Roscoe Village.
Bookkeeper
Chandra Barzvi
Our locally owned independent businesses in Roscoe Village need your support this holiday
season more than ever. Please consider shopping a portion of your holiday list right here in
your community. Let’s continue to contribute to our churches, schools and non-profits. By
working together, we can shelter each other during these uncertain times.
The Roscoe Village Chamber of Commerce
is a not-for profit organization committed to
representing Roscoe Village Businesses and
to advancing the growth and prosperity of the
Roscoe Village neighborhood.
Thanks to Anna Nalls for her insight on cash flow management and to Lane Tech College
Prep Principal, Antoinette LoBosco for providing parents with information on admission to
selective enrollment high schools. Thanks also to Commander Kenny of the 19th district and
Alderman Waguespack for their updates.
RVCC is located at:
3201 North Wolcott Ave.
Chicago, IL 60657
773.327.5123
We hope you enjoy reading INSIGHT and encourage you to send comments and suggestions
for our next issue in June 2009. Please drop us a line at [email protected].
Cherish the Season, Mary Markarian
Business Reviews
Glam To Go
2002 West Roscoe
773-525-7004
GlamToGo.com
T
his hip little boutique, founded in August 2000 by Roscoe Village
resident Jenny Flynn, has become a favorite destination for women
looking for unique clothing, jewelry, handbags, accessories and baby
items. The boutique has drawn raves for both its trendy offerings and
easy customer rapport.
It’s easy to see why Flynn has established such a loyal customer base.
Walking into Glam to Go is like finding yourself in a chapter from
“Secrets of the Ya Ya Sisterhood”. Even if you walk in alone, you’ll
find yourself browsing and chatting with Flynn as if you’ve known her
for years.
Be sure to spend time going through the jewelry. It all looks handmade
and is just funky enough to be cool and yet classic enough to wear
with just about anything. Come to think of it, everything in this shop fits
that general description.
As for the men out there wondering where to find the perfect gift for
that special woman—this shop is ideal. You can even get your selection gift-wrapped free of charge. She will think you spent hours on it
and be none the wiser that your new “girlfriends” helped you pick it
out.
Turquoise Café
2147 W. Roscoe Street
773-549-3523
www.turquoisedining.com
wishcraft
Make a wish. Make something.
2312 W. Roscoe Street
773.348.WISH
www.wishcraftworkshop.com
Craft classes and parties for children, teens and adults.
In Roscoe Village. Registering now.
Stop by and discover something new!
New Discoveries sells one-of-a-kind
home accessories, gifts, and jewelry,
including pottery, glass works, photography,
metal works, paper goods, wood works,
and paintings.
new discoveries
art-artisans-you.com
New Discoveries 2236 W Roscoe St. Chicago, IL 60618
H ome-baked flatbread and mouthwatering cuisine based on
old-world Turkish recipes has made Turquoise Café an exotic
destination in Chicago. The décor is minimalist, but cozy, in order to
spotlight the beautiful presentation of dishes.
Food critics rave across the board about the sogurme (smoked eggplant, yogurt and walnut dip), lamb kebobs, seafood salad and
se boregi (homemade dough with feta cheese and fresh dill). The food
is so good it led food critic Sherman Kaplan of WBBM to comment:
“A couple of bites and it is clear that someone in the kitchen understands flavor and seasoning balances.”
Ready to cut costs?
Emma Martin (who recently pegged Turquoise as the go-to restaurant
of choice for her 8th birthday dinner with her parents), puts it more
succinctly. As her eyes go dreamy with visions of se boregi, she utters
just one word, “Yum.”
Call Jean for a 20 minute analysis to see
how you can save time and money while
improving your current process–Don’t
sacrifice functionality and service with
the other guys–THE GRASS IS GREENER!
Payroll should be easy and inexpensive.
When weather permits, an outside patio provides additional seating.
Pricing is moderate. Expect to pay $50-$60 per couple. Private dining
is available.
Boarding > Daycare > Training > Boutique > Grooming > Self wash
Doesn’t your dog deserve a vacation too?
Chicago Academy of Dog Training
Roscoe village
Licensed daycare
and boarding
Pick up and
drop off available
Drop in for a tour
anytime!
Trainers are certified
canine training and
behavior specialists
2338 w. Nelson Chicago Il 60618 773-325-0400 www.caodt.com
3
Winterfest Weekend
in Roscoe Village!
Saturday, December 6th 5pm-9pm
Sunday, December 7th 1pm-5pm
Winterfest
Sunday, December 7, 2008, 1-5pm
Winterfest Stops and Activities
R o s c o e V i l l a g e B i k e s 2016 W Roscoe 1-5pm R e c y c l e d B i k e - P a r t O r n a m e n t s
S t a r b u c k s 2023 W Roscoe 2-4pm G i n g e r b r e a d & O r n a m e n t P a i n t i n g
L i t t l e T h r e a d s 2033 W Roscoe 2-4pm B a l l o o n T w i s t e r s
A u g u s t H o u s e S t u d i o a n d G a l l e r y 2113 W Roscoe 1-5pm H o l i d a y S h o w
J o h n ’ s P l a c e 2132 W Roscoe 1-3pm C a n d y C a n e s a n d C o c o a
O r i g i n a l E x p r e s s i o n s 2152 W Roscoe 1-5pm R u d o l p h a n d B i g B e a r
P e a r l s a n d C a k e 2212 W Roscoe 1-5pm G i f t W r a p p i n g S t a t i o n
C o n e x i o n S a l o n & S p a 2213 W Roscoe 1-5pm S a n t a ’ s C o t t a g e
L U S H 2232 W Roscoe 2-5pm S e a s o n a l W i n e T a s t i n g s
M u s i c a l M a g i c 2255 W Roscoe 2-5pm H o l i d a y M a r a c a s
W i s h c r a f t 2312 W Roscoe 1-5pm H o l i d a y P a p e r C r a f t
Y o r u k R u g G a l l e r y 2041 W Belmont 3pm L e a r n A b o u t T r i b a l R u g s
V i n t n e r ’ s C e l l a r W i n e r y 2048 W Belmont 1-5pm W i n t e r W i n e S a m p l i n g s
U n i c o i 2059 W Belmont 3-5pm W i n t e r S c e n e D i o r a m a s & J e w e l r y M a k i n g
D r e a m D i n n e r s 2124 W Belmont 1:30-5pm M a r y M a c a r o n i
S u c k e r s C a n d y 3256 N Damen 2-4pm P h o t o s w i t h P e n g u i n
R i de i n a Ho r s e- Dr awn S lei gh o n R os co e an d Hami l ton , 1 - 5pm
C at ch t he Tr o l ley an d vi s it al l t he W i n t er fes t S t ops , 1 - 5pm
Ra n s o m N ot e s fr o m U n iv e r si t y o f C h i ca g o w il l be ca ro l i ng
thr o ug hou t R o sc oe V i ll age fr o m 2 -5 pm
Annual Helping Hands Campaign
Please bring donations of new hats, scarves, gloves and clothing as well as toiletries and household items
to those who need it most. There will be a collection box located at Santa’s Cottage, 2213 W Roscoe!
Thank you to our sponsors, merchants and volunteers
who make Winterfest possible:
Fifth Third Bank: Horse Drawn Sleigh
Alderman Waguespack: Trolley
The Nanny Tax Company: Mary Macaroni
Lincoln Park Savings Bank: Our Holiday Tree
Conexion: Santa’s Cottage
Four Treys
John’s Place
Dun-Wel Printing
Roscoe Village Chamber of Commerce
Roscoe Village Neighbors
Winterfest Committee
19th District Community Policing
DISTRICT
COMMANDER
With the end of
summer, life moves
indoors. We see
the influx of college
students moving
into apartments,
and homeowners
taking out air conditioners and putting up storm windows. The after- John Kenny
noon gets shorter
and the kids are in earlier to beat the dark.
Fall is in the air and now we get a feel for
why this community is called a village. As a
part of that village, I ask that you enjoy this
season, but also look out for others in our
community.
Roscoe Village has less violent crime than
elsewhere in Chicago, but we still have problems. People have nice things and there are
those who try to take it. A review of police
reports found that many criminals enter open
garage doors, unlocked houses or remove
valuables from plain sight in cars.
Recently, our officers arrested several burglars
who led us to a location where stolen goods
were bought and sold. We found items that
we knew didn’t belong, but had no idea who
the owners were. We need a way of connecting to a victim.
As we move indoors, add a few minutes to
your chores. Look at your locks and think
about upgrading. When you recycle or throw
out packaging from electronics, write down or
tear off labels with serial numbers. Bring those
small items in from the car each night. Watch
out for each other and for each other’s homes
by reporting suspicious activity and talking
about what you notice with neighbors.
Spend less then $100 on your peace of mind.
There are a variety of window locks at local
hardware stores. They cost around $5 per
window and work just as well to childproof a
home as to create extra security. Upgrade
deadbolts to a double cylinder deadbolt for
$20 to $50. This type of deadbolt needs a
key to lock it from either side. A simple idea,
but when a thief wants to take a 48-inch flat
screen, you can’t take it out a window.
You can always call us at 312-744-5574 with
questions about crimes, seat belt installation,
safety surveys and speakers. Community
crime information is available on line at our
ClearMap system, gis.chicagopolice.org.
Lane Tech Admissions
by Antoinette LoBosco
Lane Tech Celebrates 100 Years
Founded in 1908, Lane Technical College Prep has held a
longstanding record of achievement. The latest state rankings
put Lane at #10 by percentage of tests taken that meet or
exceed expected state benchmarks, including special education and bilingual programs. With more than 90 percent of
its students moving on to earn college degrees, enrollment is
competitive.
Principal Antoinette LoBosco gave us a few pointers recently on what is takes to
get admitted to Lane Tech (or other Selective Enrollment High Schools):
• Students must first qualify to take the Selective Enrollment Admissions Exam.
They have to have a stanine score of at least 5 in both Reading and Math (any
combination of 10 for special needs students) based on their 7th grade
standardized test scores. Exam eligibility is controlled by the Office of Academic
Enhancement and there are no exceptions!
• Students who qualify must complete the Selective Enrollment Application.
Applications are available at all CPS elementary schools, or at any of the
Selective Enrollment High Schools. NOTE: The assistance of your elementary
school counselor or other administrator is needed to complete and submit the
application so don’t wait too long to turn it in to them.
• Choose your top 4 selective enrollment schools on the application. We often
get asked if the rank order is important in determining selection. While Lane
does select students from all 4 ranks, the point total needed for a student who
selects Lane 3rd and 4th may be higher than for 1st and 2nd choice students.
Consult other Selective Enrollment High Schools if you want to know their
specific policies.
• At Lane, merit only determines selection. This means total points earned.
There is no special consideration given for proximity to the school, siblings
already in the school, family tradition, etc. All of the Selective Enrollment
Schools follow the same, monitored guidelines, although a few schools not in
racial/ethnic compliance may set different point totals for subgroups.
Still lending money after all these years.
773.248.4300
2058 West Belmont
www.chicagomtg.com
An Illinois residential mortgage licensee .
6
ALDERMAN’S UPDATE
Greetings Businesses and Friends of the RVCC!
As 2008 comes to a close, I
wanted to give you a quick
update on a few things happening in City Council, where we
have just wrapped up another
two-week budget session.
As you have seen in the media,
the city was not spared in the
mortgage meltdown and could
not escape the affect it has had
on government budgets across the globe. The budget
proposed by Mayor Daley is also $469 million short of
where we need to be, although with layoffs and cuts in
non-personnel spending, the budget gap may close
significantly. However, much more should be done.
Increases in permit fees and other taxes are not on the
table this year, and that is especially good for a city that
has already reached the max on taxes.
I will continue to work with city officials and departments to implement efficiencies and improve operations
throughout the ward and city. And as always, my office
will look for ways to improve our efforts when working
with the various small businesses and chambers that
represent you.
One task my staff and I are working on that will affect
businesses and residents alike is the new version of the
city sign code that I have introduced into City Council.
My version of the LED ordinance will update the code
for the unregulated LED signs that are popping up
throughout the city. I would like to see the new technology implemented, but in a way that is not detrimental to
residents and commuters.
We are also working closely with all of our local elementary schools and encourage local businesses to build
stronger relationships with school administrators and
parents. I believe that with your leadership and support,
the children in our schools become more productive citizens.
Don't forget that you can sign up for my bi-monthly
e-mail newsletters by emailing to [email protected].
And, as always, feel free to contact me or any member
of my staff with questions at 773-248-1330. I look forward to working with each of you!
Yours very truly,
Scott Waguespack
Alderman, 32nd Ward
Managing Cash Flow
by Anna Nalls-CPA
B
y now everyone would agree that times are tough. Bankruptcies,
falling property values, rising cost of living, growing unemployment the list goes on. Recession has been all over the media and
is a frequent subject of our conversations. In simple terms, a recession means that our economy is shrinking instead of growing.
Even though experts continue to argue whether we actually hit
such an economic downturn, most of us are experiencing the
strain.
While no one is certain if things will get worse before they can
get better or how long this will last, our heads turn to Washington
with hope that the new President will lead us in the right direction.
This might be true, but one should be realistic that it will not happen overnight. It may take years before we see economic growth
that will put us at ease. In the meantime, we have to pursue
proactive strategies to keep our heads above water. Even though I
do not believe one can recession-proof his or her life, there are
many things that can be done to lessen its effects and simply be
prepared.
• Take care of your credit rating. This is not the time to have bad
credit. Lenders have much more strict lending policies than just a
few years ago and credit rating is extremely important.
• Start saving and set up an emergency fund – from three to six
months living expenses if possible. Do not count on unemployment, since these amounts are minimal. The general rule of thumb
is that the higher one’s earnings, the longer it will take to find a
replacement job.
• Think of starting a budget (this is probably the least popular
one) to help you eliminate unnecessary spending and allow you
find the money for an emergency fund.
• Apply for a line of credit or a home equity loan while things
are still good. It will be more difficult once your income is gone.
• Get additional training and diversify your skills. If you have
been thinking of taking a course or doing a certification, this is
the time to do it.
• Build a solid network of contacts and keep in touch. That may
become helpful once looking for a new job.
• When things are tough, remember, you can get a hardship distribution or even a loan from your 401(k) plan. Treat this as a last
resort but know it is there.
• And finally, talk to your financial and/or tax advisor before
making any major financial decision.
How about struggling business owners? Small business owners are
the ones that have been affected by the recession the most. Tight
budgets do not leave much room for error (or recession for that
matter). The first advice they get is to cut their costs. The problem
is, however, that many of these costs have been already cut to the
bare minimum. Besides, cutting costs sometimes means cutting
service; hence, this may not be the best solution. The alternative
would be to renegotiate contracts and costs with vendors, suppliers and even customers. Furthermore, many experts believe that
“recessions are times when you can differentiate yourself from the
competition.”
continued on back page
7
Chicago Mortgage Group
continued from page 1
they run the business.
“Everyone at the company has their own market focus and own
area,” Chris explains. “Marriage is no different, especially a marriage when you spend most every hour together. Independence has
to come from somewhere.”
“You will see that our desks sit in polar opposite corners of our 2400
foot office space,” laughs Kim.
“No doubt about it, it’s a very stressful business,” Lindstrom says. “I
find it amazing that these two are together 24/7 and raising kids
and still finding time to have fun.”
Despite these uncertain times, the pair seem relatively undaunted.
“Not all fear is bad, says Chris. Most of the time it’s a great motivator to do better, work harder and smarter. If we didn’t fear things,
complacency would sink in and that’s a sure fire death wish. Kim
and I are both survivors. The right attitude will sustain you through
anything.”
Managing Cash Flow
continued from page 7
You have to do something a bit different, better than your competition. It could be, for example, a value-added service or an ecofriendly product. Get closer to your customers and find out how you
can improve your product or service. And finally, globalization has
been a key factor in protecting the interest of many businesses.
On the other hand, if you do have the resources, this would be the
time to buy. We are all familiar with the old saying – “buy low and
sell high”. Have we hit the bottom yet? I am not sure, but overall,
property and stock market prices are in their record lows. And
please remember, even though we may be in recession for now, all
things (especially the economy) are cyclical. As they say: “Where
there is a bust, there will always be a boom.” We just have to keep
our heads above the water long enough to see it.
Roscoe Village Animal Hospital
Raises Money for the Chicago
Canine Rescue Foundation
Halloween Bash 2008, Roscoe Village Animal Hospitalʼs
third annual fundraiser to benefit the Chicago Canine
Rescue Foundation (CCRF), was celebrated on October
26th with a pet costume contest, silent auction, childrenʼs
games, face painting, pet photography, microchipping and
the hilariously-named “Whoʼs Your Daddy?” (DNA breed
testing).
CCRFʼs primary mission is to help find loving homes for
those “unadoptable” shelter dogs and cats across Chicago.
Often, dogs and cats in shelters are slated for euthanasia
because they are too old, too young, too injured, have disabilities or have been overlooked for too long by potential
adopters.
CCRF, founded in 2001, has saved the lives of more than
1,600 dogs, cat, kittens and puppies by providing medical
attention, foster care and adoption services. Without donations and generous help from volunteers, their important
work would not be possible.
To learn more about opportunities for you or your business
to help, or to view pets available for adoption, go to
www.chicagocaninerescue.com
Or contact them directly at:
Chicago Canine Rescue Foundation:
2227 W. Belmont Ave.
Adoption Hours:
Weekdays from 5-7 pm
Weekends from 1-5 pm
(or by appointment)
NEW CHAMBER MEMBERS
Build Community-Buy Local
Century 21 Sussex & Reilly
Inclusion Solutions
Glen Tomlinson
2044 W Roscoe
Chicago, IL 60618
773 524 4402
www.sussexandreilly.com
Patrick Hughes
6909 N Western
Chicago, IL
773 528 5646
www.inclusionsolutions.com
Custom Eyes
New Discoveries
Dr. Casey Crumbliss
2110 W Roscoe
Chicago, IL 60618
www.customeyes2020.com
GreenLight Fee Only Advisors
Kevin Paulsen
2521 Gross Point Rd
Evanston, IL 60201
847 556 9299
www.glfoa.com
8
Laura Davis
2236 W Roscoe
Chicago, IL 60618
773 360 8564
www.art-artisans-you.com
Pearls and Cake
Alexis Boilini
2212 W Roscoe
Chicago, IL 60618
www.pearlsandcake.com
Piazza Bella Osteria
Curtis Giszczynski
2114 W Roscoe
Chicago, IL 60618
773 477 7330
Sugar Cube
2256 W Roscoe
Chicago, IL 60618
Opening February 2009
Wing Stop
Paul Proano
3326 N Western
Chicago, IL 60618
773 697 0009
www.wingstop.com
Wishcraft
Candice Blansett-Cummins
2312 W Roscoe
Chicago, IL 60618
773 697 9932
www.wishcraftworkshop.com