Local and national Headlines on the Real Estate Market in Chicago and related topics.
For a more in depth review of current news headlines, see the following sources:
- Chicago Business Magazine: Market News
- Metro Chicago Information Center: Hot Topics, Publications, and Reports
- CityFeet.com: Commercial Real Estate News in Chicago
- Midwest, US Real Estate News by GlobeSt.com
- Chicago Foreclosure News by ILFLS.com
Barack Obama's former career sponsor Allison Davis is back in the news. Crain's Chicago Business reports: Politically connected Chicago real estate investor Allison Davis has sued five Chicago-area public employee retirement funds that are trying to dump his firm as the manager of $67 million of their money.
Tonight - Cloudy. Chance of light rain possibly mixed with snow and sleet after midnight. Temperatures nearly steady in the mid 30s to upper 30s. Northeast winds 8 to 14 mph. Chance of precipitation 30 percent.
Chris Eigel and Michael Pierson, principals of the prestigious Chicago real estate firm Prudential Rubloff Properties , are pleased to announce the formation of Rubloff Insurance, a full-service insurance arm to be lead by industry veteran George H. Moloney III.
Industry veteran George H. Moloney III tapped to lead new divisionChicago, IL (PRWEB) February 03, 2012 Chris Eigel and Michael Pierson, principals of the prestigious Chicago real estate firm Prudential Rubloff Properties, are pleased to announce the formation of Rubloff Insurance, a full-service insurance arm to be lead by industry veteran George H. Moloney III. Rubloff Insurance will be ...
WASHINGTON - Hundreds of very low-income senior citizens will have access to affordable supportive housing thanks to $31.5 million in housing assistance announced today by the U.S. Department of Housing and Urban Development (HUD). The funding announced today (see attached list) will help non-profit organizations in five states produce additional accessible housing, offer rental assistance, and facilitate supportive services for the elderly.
CHICAGO-The REIT won't incur much extra costs if it bids another $1.3 billion for the remaining minority Archstone interest, which would create a bidding war with Lehman Bros.
Lean times call for budgetary triage. But while you should clearly opt for orthodontics before Disneyland, the choice is tougher when it comes to home maintenance.
States have until late Monday to agree to the latest draft deal aimed at relieving homeowners struggling with mortgages bigger than their home's value.
Brent Stevens appreciates history. That's one reason he and his wife, Vicki, purchased an 1840s-era home in Constantine, Mich., in 1999.
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Those needing help with home-improvement projects can find solutions at the Old House New House Home Show from Feb. 10-12 at Pheasant Run Resort, 4051 E. Main St., in St. Charles.
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CHICAGO-The local developer had to pull two other, newer towers of the market, but says there will still be froth in the market this year.
Special Statement for Cook County in effect until 10:30 PM CST on February 02, 2012
CHICAGO-Mayor Emanuel's office this morning said the company is looking to open downtown this summer. The size isn't clear, but local brokers say there's enough mid-range space.
Just one day after President Obama detailed a proposal to enable millions of homeowners to refinance to record-low mortgage rates, those rates notched another record.
President Obama's latest probe into the mortgage meltdown will have more power than past efforts, and federal officials say it won't derail a possible $20 billion settlement for underwater and foreclosed homeowners.
The freebie lumberyard nail pouch isn't a standard giveaway anymore. Not that it worked very well. Two pockets for different kinds of nails became one, slipping a hammer into the waist string was a wrestling match, and then the string came loose until you knotted it and couldn't get it off. No wonder it was free.
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WASHINGTON-U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of Utah and provide support to homeowners and low-income renters forced from their homes following severe storms in November and December.
WASHINGTON-U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of Alabama and provide support to homeowners and low-income renters forced from their homes following severe storms, straight-line winds and flooding last month.
NAPERVILLE, IL-The firm, buoyed by the multifamily sector success, says it wants to expand to own or manage 20,000 units by 2017.
Before you begin a remodeling project, you need estimates. Getting them requires research into materials, appliances, colors, finishes and, of course, prices. Sort out the pieces, and then comes the really hard part: finding someone to put all the pieces together.
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ELGIN, IL-Pancor Construction & Development LLC has started construction on a speculative industrial building in Elgin.
CHICAGO-The partnership owes about $400 million to a number of CMBS and junior debt lenders by next week, according to a Wall Street Journal story today.
The Obama administration on Wednesday detailed its latest plan to help millions of homeowners refinance their mortgages to today's historically-low rates.
President Barack Obama on Wednesday called on Congress to approve a $5 billion to $10 billion effort to help U.S. homeowners refinance as part of a wider package of proposals to shore up the depressed housing market.
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Investors are racing into REITs that promise higher yields than equity REITs. But be forewarned, the higher yields of these other types of real estate vehicles come with very real risks.
You'd think that investors would be leery of companies that own and manage commercial real estate. Vacancy rates remain elevated in office buildings and shopping centers. Except for apartment buildings, rents really haven't grown at all in four years. And given the possibility that the global economy may retrench yet again, things could still get worse before they get better.
Total construction activity for December 2011 ($816.4 billion) was 1.5 percent above the revised November 2011 ($804.0 billion). Please see our web site for further details: http://www.census.gov/constructionspending
December 2011: 1.5 % changeNovember 2011: 0.4 % change
Between slumping prices and low mortgage rates, it's a good time to look for real estate bargains. But thanks to tightened lending standards, legions of young would-be homebuyers aren't exactly in a position to take advantage of the opportunity. That's where their parents come in: One in three first-time buyers received either a gift or a loan from their families to help buy a home in 2011, according to the National Association of Realtors.
Attorney Ranj Mohip was named a 2012 Rising Star by SuperLawyers.com, an honor given to just 2.5% of Illinois attorneys.
CHICAGO-The John Buck Co. has dropped tenant brokerage, and broker Greg Gerber brought his team to Studley, where he says office users will still drive the bus in 2012.
Serene and stationary in a centerpiece or outdoor container, Oriental bittersweet (Celastrus orbiculatus) appears innocent. But when set loose in a natural area, this aggressive vine quickly forms a patch of tangled stems where nothing else can live.
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The winter of 2011-2012 has been pretty mild in many parts of the country, but there's still plenty of frigid weather to come. When it does, dogs and cats can get frostbite. Most susceptible are the tips of their tails and ears. Dogs with long ears, like Basset Hounds and Weimaraners, are especially at risk.
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CHICAGO-A real estate company based in Canada has agreed to purchase a Loop office building for more than $95 million.
LINCOLNSHIRE, IL-A joint venture headed by Chicago-based Bridge Development Partners LLC has agreed to sell a four-story, 163,000-square-foot office building at 555 Aptakisic Road in Lincolnshire.
Florida's cities were some of the hardest hit by the housing bust, but now they are leading the charge back. Of Realtor.com's top 10 turnaround towns, eight are in the Sunshine State.
American Crossroads, the Republican "super" political committee that plans to play a major role in this year's presidential campaign, raised more than $51 million along with its nonprofit arm last year, The Associated Press has learned.
Home prices posted a steep, month-over-month drop in November, falling 1.3%, according to the latest S&P/Case-Shiller 20-city report. Prices fell in 19 of the 20 cities the index covers.
Home prices in the Chicago area fell in November for the third consecutive month, putting them back at May 2001 levels, according to a widely watched index released Tuesday.
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The Tribune Company, publisher of The Chicago Tribune, The Los Angeles Times and others, is in the fourth year of its bankruptcy. While the papers have cut back on reporting, the legal fees have kept rising.
Homeownership Rate (HR)
The homeownership rate in the fourth quarter 2011 (66.0 percent) was lower than the fourth quarter 2010 rate (66.5 percent). The homeownership rates in the Northeast, Midwest, South, and West were not statistically different from their corresponding fourth quarter 2010 rates.
Rental Vacancy Rate (RVR)
The rental vacancy rate in the fourth quarter 2011 (9.4 percent) was approximately the same as the fourth quarter 2010 rate (9.4 percent).
Homeowner Vacancy Rate (HVR)
The homeowner vacancy rate of 2.3 percent in fourth quarter 2011 was lower than the fourth quarter 2010 rate (2.7 percent).
4th Qtr 2011
(HR): 66.0 percent
3rd Qtr 2011
(HR): 66.3 percent
WASHINGTON - A rental assistance program that temporarily housed nearly 20,000 families who were displaced by Hurricanes Ike and Gustav in 2008 officially ends today with only 3,500 households still enrolled in the program. To help these families find permanent housing solutions, the U.S. Department of Housing and Urban Development (HUD) will provide $28 million to convert eligible families to its Housing Choice Voucher (HCV) program.
WASHINGTON - The U.S. Department of Housing and Urban Development today awarded $20 million in technical assistance funding to 12 organizations that will, in turn, help local communities across this country stabilize neighborhoods hard-hit by foreclosure through HUD's Neighborhood Stabilization Program (NSP).
The Tricia Fox Group, one of Chicago’s leading luxury real estate teams, brings $68 million in annual production to the No. 1 Chicago real estate brokerage firm. (PRWeb January 31, 2012) Read the full story at http://www.prweb.com/releases/2012/1/prweb9149769.htm
The Tricia Fox Group, one of Chicago’s leading luxury real estate teams, brings $68 million in annual production to the No. 1 Chicago real estate brokerage firm.Chicago, Illinois (PRWEB) January 31, 2012 @properties announced that Tricia Fox and her team of agents, who are among the city’s leading sellers of luxury condominiums, have joined the Chicago real estate brokerage firm. Ms. Fox ...
... one of Chicago's leading luxury real estate teams, brings $68 million in annual production to the No. 1 Chicago real estate brokerage firm. This is an exciting opportunity...Everyone will benefit from the branding, marketing and market share ...
CHICAGO-One plan to return buildings to their original state tops the list, but energy management, equipment solutions and other options abound for the cost-conscious manager.
No matter whether it's the year of the dragon, the horse, or the sheep, the philosophical principles of feng shui can add harmony to your interior design -- and even inject a new spirit of romance.
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Had enough of President Barack Obama , his jet-setting wife and his multi-millionaire Chicago real-estate mogul Valerie Jarrett attacking the rich? Well, brace yourselves.
HIGHLAND PARK, IL-CBRE Inc. will auction off the former headquarters of Solo Cup Co. in Highland Park.
CHICAGO-The tax increment financing process will be tracked by an online database, will be subject to an assessment report and will be monitored by the city's Department of Revenue.
New plants can bring some spark to gardens (and help us dream of spring)
Every winter, as icy winds whip sleet around the yard, gardeners long for spring and the chance to try new things. But "new" — the most powerful word in the plant business — can be tricky.
Every winter, as icy winds whip sleet around the yard, gardeners long for spring and the chance to try new things. But "new" — the most powerful word in the plant business — can be tricky.
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Separate the good-as-gold advice from the misguided tips that won't go away
Sometimes it seems as if there are as many gardening books as there are dandelions in spring.
Sometimes it seems as if there are as many gardening books as there are dandelions in spring.
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It may seem a bit premature, but if you look closely, you can see the earliest signs of spring. Depending on where you live, it may not feel like spring, but the signs are there.
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The Obama administration is taking another swing at improving its main foreclosure prevention program.
WASHINGTON - U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced today new regulations intended to ensure that HUD's core housing programs are open to all eligible persons, regardless of sexual orientation or gender identity. Donovan previewed the announcement at the 24th National Conference on Lesbian, Gay, Bisexual and Transgender (LGBT) Equality - Creating Change.
CHICAGO-The company has opened a few stores already since announcing a more than 20-store plan for the city in 2010, including a new one this past week in Chatham Market.
Before you call a plumber to fix an old toilet, try diagnosing the problem. If that doesn't work, call a plumber. To troubleshoot the problem, go to www.fluidmaster.com , a manufacturer's website where you'll learn how to inspect your toilet and determine exactly what's wrong. The problem is usually a broken or failing part that needs to be replaced. The parts of the toilet tank -- fill valves, flappers and tank levers -- age and weaken over time. And with continued use, the gaskets, seals and connectors in the tank can deteriorate.
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Karen Mena managed to get a foreclosure on her San Bernardino home rescinded. But she continues to negotiate with Bank of America over loan terms and could still lose the house.
Karen Mena managed to get a foreclosure rescinded. But she continues to negotiate with Bank of America over loan terms and could still lose the house.
Karen Mena managed to get a foreclosure rescinded. But she continues to negotiate with Bank of America over loan terms and could still lose the house.
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FORTUNE -- Over the past few months, a spate of good news about the U.S. housing market has led some to think a recovery is finally on the horizon.
John Dickerson: Gingrich and Romney are both consummate insiders. So why is only Gingrich able to portray himself as an outsider?
Q: I have a lease that doesn't say anything about pets. My landlord wants me to agree to a new clause prohibiting pets without his consent, but I refused to sign the amended lease, because I was planning on getting a dog.
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Q: I have a lease that doesn't say anything about pets. My landlord wants me to agree to a new clause prohibiting pets without his consent, but I refused to sign the amended lease, because I was planning on getting a dog.
CHICAGO-The company bought the 399-unit River North apartment tower for $60 million in May 2006, now wants to gain cash back to help buy the Seneca hotel at 200 E. Chestnut St.
When it comes to home loans, we've become a nation of debt-a-phobes. Borrowers are choosing shorter-term loans when they can; of those who refinanced a 30-year fixed-rate loan in the third quarter of 2011, 40 percent chose a 15- or 20-year loan.
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They wrestle. They race. Tails held high, they welcome newcomers to their play group. Charlie, a Rottweiler, and her Weimaraner buddy, Vincent, are in their glory at Riley's Run dog park. Their masters chat for hours before the pooches collapse, ready for their afternoon naps.
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A team of attorneys, agents and analysts will try to speed up existing federal and state probes and launch new ones into the highly risky mortgage-backed securities that fell apart.
The Obama administration's new effort to investigate the causes of the nation's mortgage meltdown will focus on coordinating the often overlapping state and federal investigations and on holding accountable those whose misconduct led to the global financial crisis.
The Obama administration's new effort to investigate the causes of the nation's mortgage meltdown will focus on coordinating the often overlapping state and federal investigations and on holding accountable those whose misconduct led to the global financial crisis.
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Q: I bought a unit eight years ago as an investment property where I plan to live when I retire. At the time of the purchase, there were no rental restrictions for the unit. A recent proposal by some residents to increase the number of rentals from 5 percent to 10 percent of the building was defeated.
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Can't get a mortgage from the bank? Have you thought about tapping mom and dad on the shoulder?
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New data on who took the plunge and purchased a home last year shows that declining prices and mortgage interest rates made homeownership attainable for some Chicagoans who couldn't get into the market just two years earlier.
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DEAR TIM: I want to start construction on a home, but just about everyone wants me to wait for months because bad weather is just around the corner. Can you build a home in the rainy season or in the middle of winter without causing problems to the structure? Does rainwater hurt all the lumber as a house is being built? --Jason S., Cut Bank, Mont.
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Q: I have read your articles regarding time shares but I still feel at a loss as to how unload mine. It is completely paid, with the maintenance fees paid every other year. I have offered it on Craigslist but still no bites. I visited a licensed real estate broker and he has the same problem trying to sell his time share. What would be the worst-case scenario if I don't continue to pay the maintenance fees? I don't mind losing this time share and I would like to know if doing this will affect my credit. Can I abandon the time share? Do I try another real estate broker?
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Nearly nine out of every 10 homebuyers used a real estate agent last year. That's up from 69 percent a decade ago, according to the National Association of Realtors' most recent profile of buyers and sellers.
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They wrestle. They race. Tails held high, they welcome newcomers to their play group. Charlie, a Rottweiler, and her Weimaraner buddy, Vincent, are in their glory at Riley's Run dog park. Their masters chat for hours before the pooches collapse, ready for their afternoon naps.
Nearly nine out of every 10 homebuyers used a real estate agent last year. That's up from 69 percent a decade ago, according to the National Association of Realtors' most recent profile of buyers and sellers.
When it comes to home loans, we've become a nation of debt-a-phobes. Borrowers are choosing shorter-term loans when they can; of those who refinanced a 30-year fixed-rate loan in the third quarter of 2011, 40 percent chose a 15- or 20-year loan.
Though his tenure as Chicago Bears head coach ended in 2003, Dick Jauron has kept the North Shore as his residential home base.
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Though his tenure as Chicago Bears head coach ended in 2003, Dick Jauron has kept the North Shore as his residential home base.
Q: I have read your articles regarding time shares but I still feel at a loss as to how unload mine. It is completely paid, with the maintenance fees paid every other year. I have offered it on Craigslist but still no bites. I visited a licensed real estate broker and he has the same problem trying to sell his time share. What would be the worst-case scenario if I don't continue to pay the maintenance fees? I don't mind losing this time share and I would like to know if doing this will affect my credit. Can I abandon the time share? Do I try another real estate broker?
A series of gardening classes will be offered at Lincoln Park Zoo beginning in February and continuing through July. The first is "Smart and Soulful Gardening," an hourlong program to be offered twice — at 6 and 7:30 p.m. Feb. 1 in the Keller Auditorium, near the main entrance and across from the Kovler Lion House. Brian Houck, the zoo's director of horticulture, will lead participants in an exploration of new ways for gardeners to rethink their green spaces. Admission is free, but registration is required. Go to lpzoo.org/education (type "gardening" in the search field) or call 312-742-2056.
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Just 302,000 new homes were sold in 2011, 6.2% below 2010 and the lowest number of annual sales since the government started tracking home sales in 1963.
Neil R. Aaronson, CEO, Hilco Real Estate, LLC, today announced that Joel H. Schneider has joined the company as Senior Vice President, Dispositions. Mr. Schneider will source and m
Sales of new single-family houses in December 2011 were at a seasonally adjusted annual rate of 307,000. This is 2.2 percent (+/- 13.2%)* below the revised November 2011 estimate of 314,000.
December 2011: -2.2 % changeNovember 2011: +2.3 % change
CHICAGO-Paul, an attorney with Indianapolis-based Faegre Baker Daniels, was recently elected as APTC president. Here he talks with GlobeSt.com about 2012 tax protection advice.
Sales of homes in foreclosure comprised 20% of all U.S. residential sales during the third quarter, according to RealtyTrac.
The president's proposals include an expanded refinancing plan for struggling homeowners and a new, aggressive probe of financial firms' mortgage practices.
Two new initiatives from President Obama to address the foreclosure crisis — more help for struggling homeowners and aggressive investigations of financial firms — face significant hurdles as the nation's real estate troubles linger in a volatile election year.
Two new initiatives from President Obama to address the foreclosure crisis — more help for struggling homeowners and aggressive investigations of financial firms — face significant hurdles as the nation's real estate troubles linger in a volatile election year.
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The president's proposals include an expanded refinancing plan for struggling homeowners and a new, aggressive probe of financial firms' mortgage practices.
Two new initiatives from President Obama to address the foreclosure crisis — more help for struggling homeowners and aggressive investigations of financial firms — face significant hurdles as the nation's real estate troubles linger in a volatile election year.
Two new initiatives from President Obama to address the foreclosure crisis — more help for struggling homeowners and aggressive investigations of financial firms — face significant hurdles as the nation's real estate troubles linger in a volatile election year.
Out of all of the presidential candidates, former Massachusetts Governor Mitt Romney owns the most real estate -- even after unloading a couple of sizable properties.
A new special task force to investigate and prosecute those responsible for bad mortgages during the housing boom will be part of President Obama's 2012 agenda.
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) announced today that it is charging the owner of a 24-unit apartment building in Holyoke, Massachusetts, with housing discrimination for denying units to families that have children. HUD's charge alleges that Nilma Fichera, who owns and manages New York-based N.A.G. Realty, LLC, violated the Fair Housing Act when she refused to show or rent apartments to families with children because she could not certify that the building was free of lead-based paint.
DETROIT -U.S. Housing and Urban Development Assistant Secretary Sandra B. Henriquez today joined Detroit Mayor Dave Bing to announce a transition plan to return the Detroit Housing Commission to local control. HUD assumed control of the agency in 2005.
Humiliated by a bunch of bloggers, amateur analysts and assorted day traders.
Humiliated by a bunch of bloggers, amateur analysts and assorted day traders.
Ken Lemberger of Roselle, IL, has been honored with a recognition by Chicago in its selection of "2011 Chicago Real Estate Agents."
President Obama is expected to once again offer ways to help the beleaguered housing market in his State of the Union speech Tuesday night.
Depending on how much of a newshound you are, you might've read about a recent case where Sharon Smiley was fired from her job at a Chicago real estate company for skipping lunch two years ago.
New gardeners can give themselves a head start with smart plant choices
Unlike a new lamp or a chair that you would set in a room, occasionally dust and otherwise forget, the plant you cart home from the garden center has needs, like food, water and good soil.
Unlike a new lamp or a chair that you would set in a room, occasionally dust and otherwise forget, the plant you cart home from the garden center has needs, like food, water and good soil.
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New gardeners can give themselves a head start with smart plant choices
Unlike a new lamp or a chair that you would set in a room, occasionally dust and otherwise forget, the plant you cart home from the garden center has needs, like food, water and good soil.
Unlike a new lamp or a chair that you would set in a room, occasionally dust and otherwise forget, the plant you cart home from the garden center has needs, like food, water and good soil.
Debbie Hymen of Highland Park, IL has been honored with a recognition by Chicago in its selection of "2011 Chicago Real Estate Agents."
Jan. 23, 2012. If your plans for the New Year include a new home, you’re in good company, according to a Yahoo Real Estate poll released last month, which reports four out of ...
Chicago Internet marketing and mobile marketing web design firm, MA Interactive Group, continues to work in both the Chicago real estate and Chicago mobile marketing space, through the launch of a new mobile website for full service property-management company, Andco Management.(PRWEB) January 22, 2012 MA Interactive Group, an Internet marketing and mobile marketing Chicago leader, furthers ...
WASHINGTON - Today, Acting Federal Housing Administration (FHA) Commissioner Carol J. Galante announced the latest in a series of steps to protect and strengthen the FHA's Mutual Mortgage Insurance Fund, while enabling the agency to continue to fulfill its mission to provide access to homeownership for qualified borrowers.
WASHINGTON - U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today allocated $400 million in emergency aid to help communities in eight states to recover from presidentially declared natural disasters in 2011. Provided through HUD's Community Development Block Grant (CDBG) Program, these grants will support long-term disaster recovery efforts in areas with the greatest extent of 'unmet need.'
Privately-owned housing starts in December 2011 were at a seasonally adjusted annual rate of 657,000. This is 4.1 percent (+/- 11.6%)* below the revised November 2011 estimate of 685,000.
December 2011: -4.1 % changeNovember 2011: +9.1 % change
Hasani Steele, one of the top-producing Chicago real estate agents, has joined RE/MAX Premier Properties on Chicago's Gold Coast.
Jan. 18, 2012. After several difficult years for the industry, many in real estate, including J. Lawrence Homes, are looking to 2012 with much anticipation. John Wozniak, Pres...
From Chicago Real Estate Daily: Plans Called For Edition Hotel The owner of a prime development site on North Michigan Avenue faces a $20-million foreclosure suit about two years after scrapping a deal with Marriott International Inc.
From Chicago Real Estate Daily: Plans Called For Edition Hotel The owner of a prime development site on North Michigan Avenue faces a $20-million foreclosure suit about two years after scrapping a deal with Marriott International Inc.
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) today announced that it is launching a Section 3 Business Registry pilot program in Washington, D.C. that will expand job opportunities for low-income people and public housing residents by maintaining a registry of businesses that currently hire them. Additionally, HUD will implement the pilot program in New Orleans, Detroit, Los Angeles and Miami, to give contracting agencies and low-income residents a single source of information to find eligible Section 3 businesses and job opportunities.
WASHINGTON - The U.S. Department of Housing and Urban Development today awarded $6.8 million to help local communities across this country to assess the nature and scope of their homeless challenge as part of a broader Administration goal of preventing and ending homelessness. The technical assistance grants awarded today will ultimately help state and local planning organizations or 'continuums of care' to improve data collection and reporting that is a critical part of designing their responses to homelessness.
Laurie Goodman is an apolitical number cruncher who has spent most of her 28-year career out of the public view, studying the minutiae of mortgage-backed securities (MBS) for big investment banks. She's long been a star among Wall Street insiders, however. She holds the record for the most top rankings for fixed-in-come research from the trade bible Institutional Investor.
The fight started when Sharon Smiley, 48, punched out for lunch in January 2010 but remained at her desk in a Chicago real estate firm to finish up an extra assignment.
Hasani Steele, one of the top-producing Chicago real estate agents, has joined RE/MAX Premier Properties on Chicago’s Gold Coast.Chicago, IL (PRWEB) January 17, 2012 Hasani Steele, one of the top-producing Chicago real estate agents, has joined RE/MAX Premier Properties on Chicago’s Gold Coast. Janice Corley, the broker/owner of RE/MAX Premier Properties, compared the addition of Steele ...
Sharon Smiley had worked for 10 years as a receptionist and administrative assistant at a Chicago real estate company until she was fired for skipping lunch one day. After a two-year battle, an appeals court in Illinois has found that denial of her unemployment benefits was "clearly erroneous."
... Canyon Capital Realty Advisors in Los Angeles, bought the mansion. The sellers were a group managed by Chicago real estate executive Phil Farley. The group had rented out the mansion, which had been listed for $5.75 million, to Pritzker while work ...
U.S. retail and food service sales for December reached $400.6 billion, an increase of 0.1 percent (+/- 0.5%)* from the previous month.
December 2011: 0.1 % changeNovember 2011: 0.4 % change
From Chicago Real Estate Daily: Property Follows Manhattan SoHo House Already packing them in at restaurants with big-name chefs, the Fulton Market meatpacking district is poised to add a Soho House boutique hotel.
WASHINGTON - The U.S. Department of Housing and Urban Development announced today that it is making available $110 million in grants to transform public and assisted housing and to revitalize communities. Appearing in today's Federal Register is the Notice of Funding Availability, the federal application, for the FY 2012 Choice Neighborhoods Implementation Program. Read HUD's funding notice.
WASHINGTON - As part of its continuing effort to provide quality housing counseling to the nation's homeowners, buyers and renters, the U.S. Department of Housing and Urban Development (HUD) today announced the availability of $2 million in grants for housing counseling training. HUD's goal is to fund eligible organizations to deliver training across the full spectrum of counseling services.
WASHINGTON - U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan announced today that 13 communities across the U.S. will receive $3.6 million in Choice Neighborhoods Planning Grants. (See attached list (PDF)and project summary for this all of the grantees (PDF).)
WASHINGTON - The U.S. Department of Housing and Urban Development today announced that it immediately suspended James H. Grier and Mantua Gardens East, Inc. (MGE) of Philadelphia from doing business with the U.S. Government. In addition to the immediate suspension announced today, HUD also proposed their debarments to prevent Grier and the company from participating in government-related business for a period of five years.
What's ahead for housing in the metropolitan Chicago real estate market in 2012 and specifically in the northwest suburbs?A RE/MAX recently asked a representative sampling of its experienced agents for their assessment of where the market stands today and what the New Year may hold.A A sizable majority of those agents expects that the first half of ... (more)
2012 Board of Commissioners Meetings
2012 Schedule of the Board of Commissioners Meetings
2012 Schedule of the Board of Commissioners Meetings
2012 Permits
Everything you need to reserve your desired Chicago Park District space
Everything you need to reserve your desired Chicago Park District space
... Jeff Baasch recently closed one of the largest South Loop development deals since the downturn in the Chicago real estate market. The property, located at 2100-14 S. Indiana, was a failed condominium conversation and had been tied up in the ...
... About Dream Town Realty Dream Town is largely recognized as the leader in online Chicago real estate. Its top-ranked website receives tens of thousands of unique visitors weekly. The company has developed proprietary technology and applications to ...
Free Fitness Admission
Promotion runs Jan. 3-9 at 71 Fitness Center Locations
Promotion runs Jan. 3-9 at 71 Fitness Center Locations
Polar Adventure Days, 1/21
Northerly Island Winter Activities
Northerly Island Winter Activities
Winterfest, 1/28
Daley Bicentennial Plaza
Daley Bicentennial Plaza
What's ahead for the housing segment of the metropolitan Chicago real estate market in 2012? RE/MAX recently asked a representative sampling of its experienced agents for their assessment of where the market stands today and what the New Year may hold.
Watch Our Public Meetings
December 14, 2011 meetings now available for viewing.
December 14, 2011 meetings now available for viewing.
... purchased the lot directly across from Wrigley Field, where a prominent McDonald's now stands. Crain's Chicago Real Estate Daily reports the Ricketts family has paid $20 million for the lot across Clark Street from Wrigley Field, which includes the ...
Chicago, IL December 14, 2011 - Chicago, IL The founder of Chicago-based Sergio & Banks, Grace Sergio, has been honored with a feature article in Chicago Agent Magazine due to her Chicago real estate company's "boutique" approach to real estate.
December Newsletter
Hot off the press!
Hot off the press!
Quarterly Financial Report - Manufacturing, Mining, Wholesale Trade, and Selected Service Industries 
Manufacturing corporations' seasonally adjusted after-tax profits were 9.1 cents per dollar of sales for the third quarter of 2011, down 0.6 (+/- 0.1) cents from the seasonally adjusted after-tax profits average of 9.7 cents for the second quarter of 2011.
3rd Qtr. 2011: -0.6 cents2nd Qtr. 2011: +0.5 cents
... all-cash deal for $10.1 million. Newcastle purchased the property on behalf of the firm's $500 million Chicago real estate investment platform. Doug Renner and Anthony Campagni with Baum Realty represented the seller in the transaction. The property ...
... are, of necessity, exposed to much smaller populations. Current search volume paints a bleak picture for Chicago real estate in the near term - volume in November was at an all-time low, an index value of 11 vs the peak value of 100, down 27% from ...
... their broker for life in this key market. Michael Pierson and Chris Eigel, principals of the prestigious Chicago real estate firm Prudential Rubloff Properties , are pleased to announce the acquisition of New Buffalo Vacation Rentals which will fall ...
List of Contractors - 475 Report - December 2011
List of vendors receiving $10,000 or more in any 12 month period over the past four years.
List of vendors receiving $10,000 or more in any 12 month period over the past four years.
2012 Budget
Download 2012 Budget Summary and Recommendations
Download 2012 Budget Summary and Recommendations
Nov. 23, 2011. For buyers looking for a new-construction home in the popular Kane County village of North Aurora, J. Lawrence Homes has announced the availability of its showc...
This brief, based on the 2009 and 2010 American Community Survey results, notes geographic differences in the distribution of public assistance as well as change between 2009 and 2010. Internet address: <http://www.census.gov/acs/www/data_documentation/2010_acs_briefs/>. No news release associated with this report. Tip Sheet only. ...
Museum Free Days 2011
Museums throughout the city waive their general admittance fee on varying days of the week.
Museums throughout the city waive their general admittance fee on varying days of the week.
Oct. 18, 2011. When is comes to living in the city, some neighborhoods are easier to get around by foot than others. Being within walking distance of shops, restaurant, public...
Oct. 17, 2011. If you are a parent to a young child, here is a statistic you can certainly relate to – daily childcare takes up more time than sleeping or even working. This i...
Nature in Chicago Digital Photo Contest
Calling all nature loving photographers. Submit your photos to this contest.
Calling all nature loving photographers. Submit your photos to this contest.
Sept. 14, 2011. If you are a parent to a young child, here is a statistic you can certainly relate to – daily childcare takes up more time than sleeping or even working. This i...
Aug. 18, 2011. Data Based Ads has been practicing inbound marketing for our real estate clients for years through YoChicago, our video channels and our social networking sites...
Aug. 17, 2011. According to the Appraisal Institute, one in five families rank proximity to a park as a priority for their next home – even though it’s not part of the home.
E...
July 11, 2011. Can you hear me now? No? That’s a good thing, if you are looking for a peaceful home. And to help ensure your home will be as quiet as possible, take a close lo...
July 7, 2011. The “City that Works” is also the “City that Shops” – and that means strong demand for floor plans that feature extra closet space.
In fact, growing families se...
Girl With New Lungs Gets Gift of Song Julie D'Agostino was the lead in her high school musical this spring, despite her battle with cystic fibrosis.
Museums in the Parks
Visit one of the 10 amazing museums in the parks!
Visit one of the 10 amazing museums in the parks!
Arts Partners in Residence
This program provides space to artists/arts organizations in exchange for arts programming.
This program provides space to artists/arts organizations in exchange for arts programming.
The Adler Planetarium
Field Trips to the Adler are out of this world!
Field Trips to the Adler are out of this world!
Lincoln Park Zoo
Explore the countless contributions that shape Lincoln Park Zoo
Explore the countless contributions that shape Lincoln Park Zoo
The Shedd Aquarium
Strap a mask and flippers onto your imagination and chart a course to Shedd Aquarium.
Strap a mask and flippers onto your imagination and chart a course to Shedd Aquarium.
(Crain’s) — Union workers at local Hyatt Corp. hotels will take part in a strike authorization vote Thursday, nearly 11 months after the expiration of their last labor contract.
Unite Here Local 1 and Hyatt Hotels Corp. have “made very little progress since we began negotiating (a new ...
(Crain’s) — The owner of the Sheraton Chicago Hotel & Towers has refinanced the riverside property with a $158.2-million loan from Goldman Sachs & Co., another sign that money is flowing back into the rebounding hotel sector.
The owner of the 1,209-room hotel, Tishman Hotel & Realty L.P., had ...
(Crain’s) — Joseph Freed & Associates LLC faces a new foreclosure lawsuit at Block 37.
U.S. Bank is seeking $16.75 million from Freed entities related to a mortgage the bank made in 2007 for the planned two-tower residential and hotel portion of the development at State and Randolph streets. ...
(Crain’s) — Investors looking for signs that South Loop land prices have stabilized didn’t find one at an auction Tuesday of a prominent South Michigan Avenue development site overlooking along Grant Park.
An affiliate of First American Bank prevailed in the auction of the vacant property ...
(Crain’s) — Distribution giant U.S. Foodservice Inc. has purchased almost 50 acres in Aurora, a site big enough for a warehouse of about 1 million square feet, larger than any industrial building developed locally since 2008.
Rosemont-based U.S. Foodservice, the biggest privately held ...
(Crain’s) — AMLI Residential Partners LLC plans to build a 49-story apartment tower in River North after striking a deal with developer Albert Friedman.
Chicago-based AMLI signed a 100-year lease on a 12,617-square foot site on the southeast corner of Clark and Hubbard streets, property ...
(Crain’s) — Target Corp., the retail giant renowned for its cheap-chic sensibilities, apparently knows about discount real estate, too.
The Minneapolis-based company paid $9.3 million for a roughly four-acre site on the Near West Side, not even half what the previous owners paid for the ...
(Crain’s) — In a sign of just how good it is to be a suburban office tenant these days, a Career Education Corp. school cut its rent by more than 30% at a Hoffman Estates building while slashing its space and extending the lease for two years.
American Intercontinental University Inc. is ...
Florsheim Mansion for sale
The founder of Round Table Group Inc., an expert-witness search and referral firm, is asking $2.5 million for his Gold Coast home, known as the Florsheim Mansion. The curved brick residence at 1328 N. State Parkway was designed by Andrew Rebori, a prominent Chicago ...
Sales
A venture affiliated with Chicago-based Wells Street Cos. bought the River North building at 415 N. Dearborn St. for $4.65 million in a sale/leaseback with Sullivan’s Steakhouse. The seller was a venture of Southlake, Texas-based Del Frisco’s Restaurant Group, which operates 20 ...
(Crain’s) — Pritzker Realty Group is teaming up with a Maryland real estate firm to buy and develop apartments on the East Coast.
Pritzker Realty has formed a $75-million joint venture with Bozzuto Group, a suburban Washington, D.C., investor, that will seek acquisition and development ...
(Crain’s) — An index of local home prices rose in May for the second straight month as federal tax incentives pulled more buyers into the market.
The Standard & Poor’s/Case-Shiller index of Chicago-area single-family home prices rose 1.2% from April to May, but was still 1.5% lower than ...
The real estate market is so bad even kings are facing foreclosure.
Two banks have filed suits totaling $5.5 million against properties controlled by Rudy Acosta III, including the controversial "castle" built on the Northwest Side by the real estate developer and hip-hop music producer known as ...
Betting on The Donald paid off for most of the buyers who've resold their condos since the Trump Tower opened more than two years ago. The gamble hasn't worked out as well for Mr. Trump.
Find out how much someone making minimum wage would have to work to secure affordable housing in the Chicago area. Also, learn more about the state of the office market and the North side v. South side retail battle.
View the full PDF
©2010 by Crain Communications Inc.
Some real estate companies are homing in on narrow niches to stand out in a tough economy.
Thomas Brown, of New Urban Property Services LLC in the West Loop, lists only homes clustered around mass-transit stops.
"We've designed a database that takes condos and houses in the Multiple Listing ...
David Schwartz, 46, is co-founder and managing member of Waterton Associates LLC, the real estate investment firm whose properties include Presidential Towers. His view:
On his Kindle: "Too Big to Fail," Andrew Ross Sorkin's exposé of the 2008 financial crisis. Recent fiction focuses on ...
Joseph Pickett, a 51-year-old civil engineer who works for Abbott Laboratories, was shopping for a home earlier this year close to Notre Dame High School in Niles, where his son will be a junior this fall. His real estate agent, William Alston, found him a three-bedroom tri-level two blocks away ...
Sara Benson likes to say that you will never find her face on a billboard. You will find her darting around downtown Chicago, from one client to the next.
Ms. Benson, 48, is president and managing broker of Benson Stanley Realty Inc., her two-person firm with partner Dan Kligerman, run out of a ...
Steve Khoshabe sold his mortgage firm for a rich price near the peak of the housing boom. Now he's looking to cash in on the bust.
Mr. Khoshabe's Speedwagon Properties bought 103 condominiums this month in a River North tower after the previous owners' conversion from apartments stalled.
The ...
The residential real estate market has been in tatters for several years now, but some top agents have held their own and even flourished. How are they doing it?
In west suburban Hinsdale, a town of 18,000, a string of independent boutiques and restaurants suggests that residents like the local touch.
But in the real estate market, franchises such as Coldwell Banker and ERA have made a dent by staffing offices with legions of sales reps and discounting ...
Homeownership in the Chicago area plunged in the first quarter to its lowest level in almost eight years, erasing the dream that many achieved during the housing boom but could not hold onto.
The percentage of people who own their own homes fell to 67.4% during the first quarter, from 69.0% in ...
Barwa said it will buy Park House development in London's fashionable West End district for $369 million, as Qatari investors continue to snap up prime real estate in the city.
Some of the nation's largest apartment-building landlords are reporting that rent declines have stopped and some are even boasting modest increases.
The Gulf of Mexico oil spill is imperiling billions of dollars of commercial real-estate investments with potentially grave repercussions for developers, lenders and investors.
Developers will start construction later this month on a long-planned luxury high-rise condominium in Dallas, an unusual example of new development for a sector that was battered by the housing bust.
Prominent Florida Panhandle landowner St. Joe has seen its stock pummeled on concern that the oil spill could cut into its tourism business.
Here's what readers of ChicagoBusiness.com said about "Real estate crash: Now it's personal" (Crain's, June 7).
Unless developers knew this was coming five years prior, any assets they could have transferred will be reversed. Aside from that, the biggest culprit in the entire history is our ...
Economists say growth in the local economy could slow by as much as half, mostly due to the dissipation in federal stimulus spending.
A construction wave coupled with 11.2% unemployment would normally make life miserable for apartment owners, but downtown landlords are holding up well.
The occupancy rate for top-tier downtown apartment buildings rose to 93.6% in the first quarter, up from 91.4% in the fourth quarter and 90.9% ...
A development plan for the former site of Lincoln Park Hospital is radicalizing residents in the exclusive neighborhood just east of Oz Park's Tin Man.
It's like a protest zone, with homes proudly displaying signs reading "No High Rise No Retail at L.P. Hospital."
Homeowners have spoken out at ...
(AP) — Chicago Mayor Richard M. Daley says he won't propose increasing property taxes in next year's budget.
Daley made that pledge Tuesday during an appearance before the City Club of Chicago.
Daley says the city's revenues have seen some increase but it's hardly enough to qualify as an ...
(Crain's) — The Pioneer Press weekly newspapers in suburban Chicago this week begin running real estate sections produced by Blockshopper LLC.
The papers’ Chicago parent, Sun-Times Media Group Inc., on Thursday will add the new Blockshopper sections in a few key markets that the paper ...
(AP) — A Chicago neighborhood filled with historic bungalows and tree-lined streets has landed on a best-of list by This Old House magazine.
The magazine lists North Mayfair on the city's Northwest Side as one of the best "old-house neighborhoods" in the U.S. and Canada.
North Mayfair ...
(AP) — Illinois is embracing a licensing database that officials say will help ensure the competency of mortgage loan professionals.
The Illinois Department of Financial and Professional Regulation said it'll start to use the Nationwide Mortgage Licensing System for license applications ...
(Crain’s) — Bruce Gottschall, who helped start what has become the city’s largest housing counseling agency, is stepping down as its executive director after 35 years.
Mr. Gottschall began Neighborhood Housing Services of Chicago in 1975. He will retire on Dec. 15.
“It feels like ...
(Crain’s) — Federal regulators have rejected Amcore Financial Inc.’s plan to raise capital, giving the troubled Rockford-based lender a month to raise the needed money or sell.
Amcore has until Dec. 4 to submit a new plan to the U.S. Office of the Comptroller of the Currency under ...
(Reuters) — Building products maker USG Corp. reported a larger quarterly loss on Wednesday and said the near-term outlook remains weak, sending its shares down more than 8 percent.
The result is another sign the housing construction industry has yet to fully right itself after collapsing ...
(Crain’s) — The veteran ShoreBank executive in charge of the lender’s signature loans to apartment rehabbers — the portfolio whose success largely created the community bank’s national reputation for profiting while lending in low-income neighborhoods — has left the bank.
James ...
(AP) — The former northern Wisconsin hideout of Chicago mobster Al Capone has sold for $2.6 million to the bank that foreclosed on the property.
Margie Schull of the Sawyer County Sheriff's Department says Chippewa Valley Bank was the only bidder during a five-minute sheriff's sale on the ...
(AP) — The former northern Wisconsin hideout of Chicago mobster Al Capone goes on the auction block Thursday.
A bank foreclosed on the 407-acre wooded site and a sheriff's sale takes place on the steps of the Sawyer County Courthouse in Hayward.
Chippewa Valley Bank says the starting bid ...
(AP) — If Illinois had parents, they wouldn't be too happy with the state's economic grade card.
An advocacy group, the Corporation for Enterprise Development, gave the state an overall 'C' grade in its annual assessment of financial stability in all 50 U.S. states.
Illinois fared better ...
Rate changes by the Fed can affect consumers' budgets. Here's how the Fed's announcement affects mortgage shoppers and ARM holders.
Rate changes by the Fed can affect consumers' budgets. Here's how the Fed's announcement affects auto loan rates.
Rate changes by the Fed can affect consumers' budgets. Here's how the Fed's announcement affects credit card interest rates.
Rate changes by the Fed can affect consumers' budgets. Here's how the Fed's announcement affects home equity loans and lines of credit.
(Crain’s) — The Civic Federation has come out with a report that generally supports Mayor Richard M. Daley’s bid for the 2016 Olympics — with the exception of the development of the Olympic Village.
In a long-awaited report issued Wednesday, the tax policy group notes that the Olympic ...
Home equity products can be used to fund a car purchase. But there are risks for the homeowner.
Researchers say debt forgiveness is the only way to fix the housing crisis. But will it?
Here are the latest interest rates and commentary on five common consumer banking products from Bankrate.com's weekly national survey of large banks and thrifts.
(AP) — Signaling a housing recovery is under way in much of the country, sales of previously occupied homes rose for the third month in a row in June.
The National Assn. of Realtors said Thursday that home sales rose 3.6 percent to a seasonally adjusted annual rate of 4.89 million last month, ...
Here are the latest interest rates and commentary on five common consumer banking products from Bankrate.com's weekly national survey of large banks and thrifts.
(Crain’s) — First-time homebuyers scrambling for a down payment can now get a financial boost from the state.
The Illinois Housing Development Authority program rolled out its Illinois Home Start Loan Program Wednesday. It provides qualifying homebuyers with a 30-year fixed-rate FHA loan ...
With interest rates likely to rise, locking into a fixed-rate loan may make sense right now.
(Crain’s) — The Chicago Community Trust announced it surpassed a $1-million target to provide funds for shelters and pantries that have been overwhelmed by soaring demand.
In an initiative launched late last year, the community foundation raised $1.3 million for its Unity Challenge ...
Mortgage rates have held fairly steady since the middle of last week.
A note, sent yesterday, from a reader named Matthew.
I have an article up today -- "Want to refinance? Know the details" -- in which I describe the Home Affordable Refinance program as confusing.
Here are the latest interest rates and commentary on five common consumer banking products from Bankrate.com's weekly national survey of large banks and thrifts.
A reader named Cindy asks: "Are mortgage rates predicted to go down next week? What things should I be considering before going ahead?"
In response to my blog post from last week, "Theodicy and mortgages," Michael Hilmen writes about artificially high home prices.
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