Good afternoon, Chicago. ✶
Chicago real estate agents say that a just-approved, $418 million National Association of Realtors settlement over broker commissions might not have an immediate impact — but it will bring change.
In today’s newsletter, we’ll look into how the settlement will affect home buying and selling.
Plus, we’ve got reporting on how Rahm Emanuel came up in President Donald Trump’s New York trial Thursday, a rally for Foxtrot workers and more community news you need to know below. 👇
⏱️: A 7-minute read
— Matt Moore, newsletter reporter (@MattKenMoore)
TODAY’S TOP STORY
How National Association of Realtors settlement will affect homebuying in Chicago
Reporting by Abby Miller
Housing industry shakeup: A $418 million antitrust settlement by the Chicago-based National Association of Realtors has local Realtors unsure about what they should be bracing themselves for — same goes for their clients. Yet the changes spurred by the settlement are expected to have a lasting impact on the real estate market.
The settlement: In a series of class-action lawsuits, homeowners accused the NAR of fixing broker commissions at high rates and discouraging sellers from seeking better terms. In March, the trade group agreed to settle the lawsuit. And last week, a federal judge in a Missouri court granted preliminary approval of the settlement. A final approval hearing is scheduled Nov. 26.
What will change?Starting in July, homebuyers will need to sign an agreement that discloses their broker’s commission. The contract — which must be signed before a Realtor can represent a client and show them properties — provides clarity on the services the client can expect from their Realtor. It also discloses how much the agent will be compensated and by whom, according to the Chicago Association of Realtors. Before the NAR’s settlement, Illinois didn’t require buyer-agency agreements, said Erika Villegas, president-elect of the Chicago Association of Realtors.
Realty check: Even if the settlement means more consumers are proactive about negotiating broker commissions, Norman Miller, a real estate professor at the University of San Diego, doesn’t think the impact will be enough to drastically change home prices. What could be more powerful is if firms try to become competitive on broker commission rates, Miller said, like advertising 1% rates to edge out other real estate firms.
WHAT ELSE IS GOING ON?
- Former Foxtrot workers rally: About 20 former Foxtrot and Dom’s Kitchen & Market employees, along with supporters, held a rally Friday morning to demand 60 days of back pay after the Chicago-based companies abruptly closed all their stores this week.
- Emanuel’s ‘catch and kill’ story? While testifying in former President Donald Trump’s New York hush money trial Thursday, David Pecker, the former publisher of the National Enquirer, reportedly said he buried a story about an alleged affair by Rahm Emanuel before the former two-term Chicago mayor’s first City Hall campaign.
- R. Kelly’s conviction upheld: The federal appeals court in Chicago on Frday affirmed the 2022 conviction of onetime R&B star R. Kelly. Kelly, 57, is being held in a medium-security prison in North Carolina, records show. He is not due to be released until December 2045.
- The Bears make moves: The Bears selected USC quarterback Caleb Williams with the first overall pick in the NFL Draft Thursday night. They also landed Washington standout Rome Odunze with the No. 9 pick. The draft continues tonight in Detroit with Rounds 2 and 3.
- Remembering Scott Craig: As a producer, writer and director of documentaries for more than 40 years, Scott Craig told a broad range of stories that hit local and national airwaves. Mr. Craig died April 18 at age 89.
- Miche Festival drops: The sixth annual Michelada Festival, set for July 13 and 14, will see Kali Uchis, Los Ángeles Azules, Santa Fe Klan, Ryan Castro and more big-name artists perform at Oakwood Beach.
- Summer Smash lineup announced: Headliners include Playboi Carti, Lil Yachty, Ski Mask the Slump God, Travis Scott — and Chief Keef, making his return to a Chicago-area stage. The Lyrical Lemonade Summer Smash Music Festival will take over Bridgeview’s SeatGeek Stadium June 14-16.
- Migrant couples to exchange wedding vows: A big ceremony will be held Friday evening for 15 migrant couples. The couples pooled together money to help pay for the celebration, which will be witnessed by about 200 family and friends.
- 3½ stars for ‘Joe Turner’s Come and Gone’: This big, richly acted Goodman Theatre revival of August Wilson’s timeless play sees an all-Chicago cast deliver a collection of performances both convincing and evocative, writes Steven Oxman in a review for the Sun-Times.
WEEKEND PLANS 🎉
🎶 Arts & Music LP Sale
Friday-Sunday
📍Harold Washington Library Center, 8th Floor, Room 8S-10, 400 S. State St.
The library’s music department will offer more than 9,000 “unneeded or discarded” vinyl records.
Admission: Free; records are $1 each; cash only
🛍️ One of a Kind Spring Show and Sale
Friday-Sunday
📍The Mart, 222 W. Merchandise Mart Plaza
This spring sale features a wide range of unique, handmade goods from more than 350 artists and makers. Plus, cafe and bars, live music and immersive activities will be on site.
Admission: $15
🎉 C2E2
Friday-Sunday
📍 McCormick Place, South Building, 2301 S. DuSable Lake Shore Drive
This pop culture extravaganza features guest of honor Josh Brolin and dozens of performers from favorite movies, anime, television shows and video games. Plus exhibitors, comic creators and literary authors
Admission: $55+
📖 Chicagoland Bookstore Crawl
Saturday
📍Fifteen participating stores
Celebrate Independent Bookstore Day and find your next read. You can stop by any bookstore to receive your passport for the day, then hop to the stores for a stamp as you complete the crawl.
Admission: Free
🎤 Frankie Beverly and Maze
Saturday, 8 p.m.
📍United Center, 1901 W. Madison St.
After nearly 55 years and a string of hits, frontman Frankie Beverly is retiring, saying goodbye to fans via a farewell tour — with support from fellow legends Chaka Khan and El DeBarge.
Admission: $79+
🤠 Cowboy Carter Skate
Sunday, 7 p.m.
📍MLK Skating and Bowling Center, 1219 W. 76th St.
Glide to the songs of Beyoncé's latest album, “Cowboy Carter,” pose for photo backdrops and enjoy cafe specials.
Admission: $13; $4 skate rental
BRIGHT ONE ✨
Butterfly sculptures unveiled outside Peggy Notebaert Museum before spreading wings to other parts of city
Reporting by Mitch Dudek
About 20 butterfly sculptures — each six feet high — were unveiled Thursday outside the Peggy Notebaert Nature Museum as part of the museum’s “Flight of the Butterflies” public art project.
The sculptures will be on display at the museum until July, when all of them — 29 in all — will flutter to new homes on the Magnificent Mile, in Lincoln Park and in city parks on the South and West sides. Most of the butterflies are outside the museum, so visitors don’t need to pay admission to see them.
The program is reminiscent of the Cows on Parade public art installation that hit the streets in 1999, and the horse sculptures that were placed around the city in 2014 to benefit the Chicago Police Memorial Foundation.
“Flight of Butterflies embodies the nature museum’s mission to connect people to nature,” Erin Amico, the nature museum’s president and CEO, said Thursday. “With the many rising threats to our environment, creating connection to nature has never been more relevant, nor more important.”
The sculptures were created by a diverse group of both experienced and emerging artists, as well as community groups, some of which work with unhoused artists, people with developmental disabilities and youth. The designs showcase a wide variety of media, including acrylic paint, fabric, mosaic tiles, beads, and even blankets.
YOUR DAILY QUESTION ☕️
Now that the “rat hole” has been removed and preserved, what should the city do with it?
Email us (please include your first and last name). To see the answers to this question, check our Morning Edition newsletter. Not subscribed to Morning Edition? Sign up here so you won’t miss a thing!
ONE MORE THING 🤔
If you’re heartbroken over the rat hole removal, you can find some comfort over in Beverly — where some squirrel imprints were recently discovered.
That’s right, the rodent-meets-pavement plot thickens.
According to the Beverly Review, a neighbor was recently cleaning up an alley when she found old squirrel imprints from when the area was paved more than 15 years ago. 🐿️
Thanks for reading the Sun-Times Afternoon Edition.
Got a story you think we missed? Email us here.
Editor: Satchel Price
Newsletter reporter: Matt Moore
Copy editor: Angie Myers
