Two holidays come within three days of each other this year, Cinco De Mayo (Thursday, May 5) and Mother’s Day (Sunday, May 8). And Chicago’s restaurants are going all out to honor both… with pasión! 

After two years of Covid-19 to-go, and socially distanced celebrations, this is the perfect year to celebrate both with your nearest and dearest! 

Cinco De Mayo

River North’s upscale Mercadito, 108 W. Kinzie, serves authentic Mexican cuisine, specialty tequilas and 75 different mezcal libations. It’s a perfect spot to enjoy tacos made with fresh shrimp or brisket, guacamole and chips, or specialties like ceviche michelada, habanero, flautas, street quesadillas and more! Open Thursday from 12pm-11:30pm. For information and reservations, click here.

Artango Bar and Steakhouse,4767 N. Lincoln Ave, in Lincoln Square, will be serving such mouth-watering Argentinian steakhouse specialties as Asado de Tira, (slow-grilled short ribs) and Bife de Chorizo in itsrichly decorated Art Nouveau and Neo-classical dining room. On Cinco de Mayo, rock out to Latin Rhythms with DJ Noiz starting at 7pm. Drink specials, including $5 Margarita Shots and $10 Flavored Margaritas. For reservations, click here. 

Right off of I-90/94, Carnivale, 702 W. Fulton Market, in River West, celebrates Cinco de Mayo, as the website indicates, with Latin fusion cuisine, exotic cocktails, and one-of-a-kind desserts inspired by the cuisine & culture of Mexico, South America, and Central America, including King Crab enchiladas and Chocolate tamales for dessert.   Mariachi performances from 6pm to 9pm. For reservations and information, click here.

It’s worth noting that all three restaurants also plan celebrations for Mother’s Day. Feliz día la Madre! 

Mother’s Day

Room with a view Streeterville’s Signature Room at the 95^th, 875 N. Michigan Avenue, promises spectacular views along with a three-course brunch menu and welcome toast of Signature Room Sparkling Brut from 11am-5pm. Feast on such specialties as Lobster Bisque, Smoked Salmon Benedict, and Cinnamon French Toast. Dessert options include their Signature White & Dark Chocolate Mousse Cake, Brownie Sundae, or Strawberry Rhubarb Crisp. $65 per adult, $35 per child (ages 4-12) tax & gratuity not included. For information and reservations, click here.

Breakfast is served! Craving enormous cinnamon rolls, pancakes with lingonberries, and Norwegian lox omelettes? Ann Sather in Lakeview, 909 W. Beaumont, Broadway Restaurant, 3415 N. Broadway, and 1147 W. Granville (at Broadway) is serving breakfast only on Mother’s Day. All Egg Entrées Served with Your Choice of Two Sides: Two Homemade Cinnamon Rolls, Two Hot Biscuits & Honey, One Sweet Muffin, Toast, Hash Browns (Add Cheese $.50), Fresh Fruit, Sliced Tomatoes (in Season), Apple Sauce, or Low Fat Cottage Cheese. Who could ask for anything more? For more information, click here.

Alison Moran-Powers and Dean’s Team Chicago

Leveraging is one of the biggest advantages that real estate investors have at their disposal.

In fact, real estate investing is designed with leveraging in mind. It helps first-time investors get started in real estate investing when there’s little money from the get-go, and is a keen way to multiply initial investment capital to help build long-term wealth.

When leverage works the way it should, it can significantly boost returns, and help you gain equity a lot faster so that you can turn around and continue investing in other properties. It can afford you with appreciation on 100% of the property’s value while others pay it off so you can accumulate wealth much faster.

But over-leveraging is dangerous, and can put your entire financial profile at risk.

While debt can significantly multiply your reward, it can also just as easily multiply your risk.

Owing too much in a specific property compared to what it’s actually worth and the income it’s generating can put you in a negative leverage and equity position.

Negative leverage occurs when the return portion of the investment property is less than the interest rate on the loan.

Of course, it’s expected that real estate values will fluctuate over time. But if you’re teetering on the edge of profit versus loss based on the amount of leverage you’re holding, it could spell disaster. Any significant change in the value of your property at any given time can have a major impact on your investment.

When values drop or when interest rates increase on your debt, your equity will inevitably decline. Depending on how much you owe versus what you own, you could wind up with no equity – or negative equity.

If you invest in commercial real estate, your loan will generally last between 3 to 5 years. That means you haven’t got much time to play with when it comes to paying down the principal portion unless any returns are put back into the loan. With limited equity on the property, lenders will likely refinance the loan at a higher interest rate, making it even more expensive to hold the investment property.

And let’s not forget about all the other expenses that could pop up unexpectedly, including vacancies, repairs, and other factors that could affect your profits.

Over-leveraging to invest in a property that has no immediate returns or exit is quite frankly a bad idea. If the property is not yet rented, or there’s no immediate buyer lined up, over-leveraging is simply like walking the plank, especially if you’ve got no reserves to cover you.

Let’s say you’ve purchased a property for $500,000 with a $25,000 downpayment. If the value of the property declines by 30%, it’s now worth just $350,000, but you’re still stuck paying interest and principal on the full $475,000 loan. And if the amount that you collect in rent drops too, you could be at great risk of defaulting on the property.

If you were using the cash flow from that investment property to pay off your loan on other investment properties, you could wind up with a whole investment portfolio in foreclosure just because of one bad, over-leveraged loan and a lack of reserve capital to back you up.

How Much Leverage Should You Use?

Before you agree to a loan to make a purchase on an investment property, you’ll need to decide what would be a safe area to stay in when it comes to using leverage to boost returns and avoid being upside down on your loan. Here are a few considerations to keep in mind.

Don’t bet on steep rises in appreciation. Lots of real estate investors have lost a ton of capital because they assumed that recent history would repeat itself. Even if property values in the area have been appreciating at a 15% rate over the past few years, for example, it doesn’t mean this trend will continue into the near future. Betting on this is risky business, and can lead you to buy at higher prices and borrow more than what the property may realistically bring in for you.

Put in a hefty downpayment. The higher the down payment you put forth, the less your outstanding principal will be. Sure, you can put as little as 3% down on a real estate loan, but this leveraging will likely run you into trouble if the income that your investment property generates is close to the interest rate you’re paying on your loan. If the market happens to soften at some point, or you experience a higher vacancy rate than you anticipated, you could find it impossible to carry the loan for the property.

Meticulously – and realistically – calculate your cash flow. One of the biggest mistakes you can make when it comes to real estate investing is overestimating your cash flow and being naive about the financial fallbacks that could realistically creep up and affect your returns. Make sure you’ve accounted for every dollar and every possibility when calculating your cash flow. If the margin between rental income and mortgage costs and expenses is slim, you’re putting yourself at risk.

Keep your long-term investment goals clear. Understanding where you’d like to be in 5, 10 or even 20 years will help you decide how much you should leverage to buy a property. Not only should you be looking at the real returns of a property, you should also think about whether you’ll be using those returns to put back in the property to pay down the principal, or turn around and purchase another property.

The Bottom Line

Levering is obviously a necessity when it comes to investing in real estate and reaping the most rewards for the initial dollars invested. In fact, it’s leveraging that allows massive profits from real estate investments to be made.

But using it prudently and avoiding huge loan ratios that your current financial situation cannot support is critical. While leverage is a tool that can help you realize significant returns, it’s got to be used with a good dose of skill and expertise in order for you to avoid losing your shirt.

La Dolce Vita…finito! Eataly’s SpringFest, 43 E. Ohio Street, is taking over the Streeterville marketplace on Friday, April 28, from 6pm-11pm as their finale to Vino Month. Unlimited food, unlimited drink, and unlimited entertainment. They’re even inviting guests to dress up in their best retro-Italian attire, so the organizers put on your red lipstick, sunglasses, and ascot – best dressed has the chance to win a special prize! Ready for an Italian experience you won’t forget? Tickets are $99 per person. Who could ask for anything more? For tickets, click here.

Frustrated in Lakeview… RASHEEDA SPEAKING, aproduction of the Shattered Globe Theatre Company at Theater Wit, 1229 W. Belmont, tells the story of Jaclyn, the only Black woman in her workplace, and her experiences a series of frustrations in this comedy-turned-social thriller about workplace racism. Directed by Associate Artistic Director AmBer D. Montgomery, the play runs throughJune 4. For tickets, click here.

When in Ravenswood…With Mother’s Day approaching (Sunday, May 8), now is the best time to find an amazing, handcrafted gift made by a Chicago artisan! The Ravenswood Mother’s Day Gift Market returns on Saturday, April 30, at the Ainslie Arts Plaza, 4836 N. Lincoln Avenue, from 11am-4pm. Shop gifts from local retailers and artisans. Kid-friendly, the market features sweets and baked goods, beauty products, handmade jewelry, original artwork and more. For more information, click here. 

Through the Lookingglass Alice…From Saturday, April 30 to July 31, join Alice on her fantastical trip down the rabbit hole along with the renowned Lookingglass Theatre Company. Come to the Magnificent Mile’s Water Tower Water Works,  821 N. Michigan Avenue, for a theatrical Wonderland! Directed by ensemble member David Catlin, from the books of Lewis Carroll, the circus-themed show runs 90 minutes with no intermission. Fun for the whole family! For tickets, click here.

Albany Park Brewskis…Northwest Brewfest at Sway Dance Chicago, 3317 W. Irving Park Road, offers samples of fourteen brewers during two-hour sessions on Saturday, April 30. Capacity is limited. Session 1 starts at 1pm- 3pm, check-in starts at 12:40pm. Session 2: 3:20pm – 5:20pm, check-in starts at 3pm. Goes without saying: You must be 21 or older to participate. Tickets for one session will be $35, and attendees receive an official Northwest Brewfest sample glass upon entry.  Click here to purchase tickets.

Alison Moran-Powers and Dean’s Team Chicago

If you are not familiar with the vast variety of peppers in your market here is a quick guide:

• Banana peppers are generally quite mild but may have a gentle kick. They are usually yellowish green and are good for quick pickling, salads and stuffing.
• Anaheim peppers are light to medium green and are similar to banana peppers, although a bit hotter. They are good to put in salsa and chili verde. 
• Piquillo peppers are also quite mild although their red color would indicate differently. They are a Spanish pepper often stuffed and served as Tapas.
• Padron peppers are light green, another Spanish type, also mild but may have a bit of spice. Blister them over a fire, douse with oil and salt and eat whole.
• Poblano peppers look a bit like green peppers but flatter and elongated. They are a very dark green. They are the main component in chili rellenos and are good for all sorts of stuffing. Generally they are mild, but may be a little hot at times. 
• Red Thai peppers look more lethal than they are. They are spicy but not killer. They are small, thin and red, and especially good in curries and other Indian food.
• Jalapenos are one of the green hot peppers you will see the most in supermarkets. They range from medium spice to very hot. A must for salsas and great on the grill stuffed with cheese. 
• Fresno peppers are similar to jalapenos but tend to be a tad milder. Great for all southwest or Mexican cooking. 
• Shishito peppers are green and medium sized. They tend to be more hot than mild. Prepare them as you do Padron.
• Serrano peppers are slender, small and light to medium green. They pack a hot punch. The smaller they are the hotter. Good anywhere you need heat, salsas, curries and Mexican food. 
• Cayenne peppers are South American and spicy hot. Mostly used as a dried spice but fresh in many Asian dishes. 
• Habanero peppers are usually the hottest peppers found in supermarkets just about everywhere. They are small, rather round and usually orange to reddish in color. Very popular in Caribbean and Latin American cooking.

Try a new pepper or two in your cooking! Try a small piece first to gauge the hotness and use accordingly. You might be surprised at how much your cooking is better with a little shot of heat. 

Kathleen Weaver-Zech and Dean’s Team Chicago

Springtime in Chicago brought snowflakes and chilly temps this past week, but this weekend we’re in for a warm treat!  Shed those winter coats, it’s time to get out and enjoy the warm, balmy weather heading our way before the next chill returns.

Let Inside Chicago Walking Tours show you the fascinating second side of an architectural boat tour with Beyond the Boat: Explore the Stunning Interiors on Saturdays and Sundays (1 p.m.-3 p.m.).  This 2-hour walking tour shows you the interiors of some of the best buildings along the Chicago River.  From Art Deco interiors to vaulted lobbies to thoughtful extras like reflecting pools, digital art walls and more, these interior spaces will absolutely delight you whether you’re an architecture buff or not!  And, if you haven’t taken the architectural boat tour yet, here’s the Link.

Taste some of the most delicious donuts in Chicago at this Saturday’s Chicago Donut Fest from 12 p.m. to 4 p.m. at Moe’s Cantina (155 W. Kinzie St.) in the River North neighborhood.  Come join us as we celebrate our love for these delicious, sugary treats!  A ticket gets you donut tastings and 3 drink tickets for beer or mimosas along with giveaways and more!!  It’s been said that happiness is having a donut in one hand and an alcoholic beverage in the other.  I guess I’ll have to find out if that’s true!

Bring your family and fur babies to the Spring Scavenger Hunt – Dog Friendly taking place at McKinley Dog Park (corner of Pershing Rd. and Western Ave.) in the McKinley Park neighborhood this Sunday (11 a.m.-2 p.m.).  This scavenger hunt takes place throughout the beautiful 70 acres of McKinley Park and begins promptly at 11:15 a.m.  Teams will be selected and sent off with a list of things to search for and take a photo of.  Plus, if you bring your dog along, extra points will be awarded per photo that includes your pooch!  Then make your way back to the Dog Friendly Area at 12:45 p.m. where points will be tallied, and winners announced.  May the best team win — Woof!!

Calling all sports fans!  Here’s who’s in town for this warm, balmy weekend:

The Chicago Cubs are hosting the Pittsburgh Pirates this Saturday and Sunday (1:20 p.m.) at Wrigley Field (1060 W. Addison St.) in the Wrigleyville neighborhood.  Time to work on those tans!!

The Chicago Bulls are hosting the Milwaukee Bucks in the NBA Eastern Conference First Round/Game 4 this Sunday (12 p.m.) at the United Center (1901 W. Madison St.) on the Near West Side.  Cheer them on to another victory!!

Finally, the Lake County Home Show takes place this Saturday and Sunday (10 a.m.-5 p.m.) at the Lake County Fairgrounds (1060 E. Peterson Rd.) in Grayslake.  This free event, with free parking, provides a massive selection of exhibitors highlighting thousands of the latest home improvement products and services presented by local and national experts!  It’s the largest home & garden show in the entire Chicago area and is the best and easiest way to save time and money with great, exclusive show specials for your remodeling, repairing, and/or beautifying your home projects both inside and out!!

Sue Moss and Dean’s Team Chicago