30 Year: 6.06 %, 15 Year: 5.59 %, 5 Year: 5.73 %, 1 Year: 5.29 %

Casino operator Tropicana filed for Chapter 11, the largest corporate filing of the year, following a missed interest payment on a $1.32 billion loan.

Some of the last, best housing markets - the ones that continued to climb even as the rest of the country cratered - have turned south lately.

Several cities have endured mini-murder waves, leading criminologists to worry whether this signifies the beginning of a trend.

Can a couple coats of paint, some spackle and $15 billion keep foreclosed homes from bringing down the home market?

The Treasury Department is meeting with mortgage companies Tuesday to discuss ways to speed up the program for helping borrowers.

The wave of foreclosures sweeping the nation are driven in part by a nearly unprecedented decline in home prices and require a concerted government and private-sector response, Ben Bernanke, chairman of the Federal Reserve, said Monday.

CHICAGO -- Less than two hours after prosecutors rested their case at political fundraiser Antoin "Tony" Rezko's marathon fraud trial Monday, defense attorneys did the same without calling a single witness.

CHICAGO | Defense attorneys rested their case at political fundraiser Antoin "Tony" Rezko's marathon corruption trial Monday without calling a single witness.

GURNEE, IL-The medical and office condominium complex has a sales value of $9.5 million.

Defense attorneys rested their case at political fundraiser Antoin "Tony" Rezko's marathon corruption trial Monday without calling a single witness. Rezko attorney Joseph J. Duffy said he didn't consider the evidence presented by federal prosecutors at the eight-week trial strong enough to warrant calling defense witnesses.

Today - Partly cloudy. Highs in the upper 70s. Light and variable winds early in the morning becoming south 10 to 15 mph in the late morning and afternoon.

Banks are imposing tougher lending terms for consumers and businesses across the board, a Fed survey shows.

The trial of political fundraiser Tony Rezko goes to the jury next. Acting quickly, the defense rested Monday without calling a single witness. CBS 2's Mike Parker is covering it gavel-to-gavel.

Less than two hours after prosecutors rested their case Monday in political fundraiser Antoin "Tony" Rezko's fraud trial, defense attorneys did the same without calling a single witness.

The trial, which started March 3, has been closely watched because Rezko, a Chicago real estate developer and fast-food entrepreneur, has been a fundraiser for Democratic presidential hopeful Barack Obama.

Read full story for latest details.

Less than two hours after prosecutors rested their case today in political fundraiser Antoin "Tony" Rezkos marathon...

CHICAGO - Less than two hours after prosecutors rested their case today in political fundraiser Antoin "Tony" Rezko's marathon fraud trial, defense attorneys...

Less than two hours after prosecutors rested their case Monday in political fundraiser Antoin "Tony" Rezko's marathon fraud trial, defense attorneys did the same without calling a single witness.

Read full story for latest details.

The Middle East's oil-fueled construction boom is creating a big market for Western industrial companies, such as GE, even as their growth slows in the U.S. and other developed countries.

Prosecutors and defense attorneys have rested their case at the corruption trial of political fundraiser Tony Rezko -- and the defense didn't call a single witness to the stand.

Less than two hours after prosecutors rested their case Monday in political fundraiser Antoin "Tony" Rezko's fraud trial, defense attorneys did the same without calling a single witness. It is not unusual for the defense portion of a major criminal trial to be fairly short, though attorneys often call at least a few witnesses. "We do not believe the government has met their burden in proving the ...

Tech-heavy dream houses may seem mildly crazy today, but their far out gadgets and systems will likely be mainstream tomorrow. Discuss.

Investors are applying a senior citizens' discount to Brookdale Senior Living Inc. Shares of Chicago-based Brookdale have sunk 40% over the past 12 months as the housing slump stoked concern over the company's ability to populate its retirement communities. Seniors typically sell their homes and ...

VICE-PRESIDENT • APPRAISAL RESEARCH COUNSELORS Gail Lissner's first real estate job was a disaster. In three months at a Chicago agency, she didn't make a single sale. It got so bad her supervisor insisted she keep her next client in the office until he signed a contract. She closed the deal ...

Read full story for latest details.

OAK BROOK, IL-XO Communications Services Inc. and Clearblue Technologies/Oak Brook Inc. have renewed in the complex, which is 43% leased.

CHICAGO-The seven brokers with Fisher/Sears will focus on multifamily sales, and expect to increase their volume by about 50% from last year’s $30 million.

... the assets of the $40 billion state fund that pays pensions of retired teachers. Rezko, a Syrian-born Chicago real estate developer and fast-food entrepreneur, denies taking part in any such schemes. And for eight weeks, many trial watchers have ...

6 stories of upgrades plus new clubhouse

By urban standards, six floors is hardly a tower. But Twin Lake Towers, a 399-unit rental community in suburban Westmont, claims that status because its three buildings cast shadows over neighboring two- and three-story condos and rentals.

A second home—it's a dream come true, right? Unfortunately, some first-time buyers make rookie mistakes that can turn owning a vacation house into a nightmare. Here are a few tips to avoid them.

Address: 816 S. Adams St., Westmont

Q : We live in a town-home development facing age-related repairs. It appears the board has been liberal in interpreting "common area" as opposed to "limited common area."

Strapped for time, money, buyers see units as second-home alternatives to traditional single-family waterfront cabins

The second-home market is in a slump. But one type of vacation property is still showing signs of life: condos.

J ack McCabe was an early B-word guy.

Washington Post Writers Group

With inventories up and prices stable, those with solid credit can apply. Sound familiar?

P atience seems to have paid off for Gary and Wanda Lockwood.

Second-home market feeling pinch of limits

For enthusiastic second-home buyers, visiting a lender can feel like checking into a crowded airport on the way to vacation.

Some question to consider when deciding whether to buy a second home:

Homeowners often don't take time to reassess home-insurance coverage when it's time to pay the premium. But with many Americans looking for ways to save a buck these days, examining that paperwork could pay off.

Essay: We live in New York, the land of great coffee, breakfast pastries and the morning Times. Neither golf nor fishing -- nor boating, playing tennis or bridge, or even sitting in the sun by the pool -- appeal to me as regular pastimes. No, I thought. I could never be a Florida person.

The housing slump has created another type of pain: the suffering of people who find themselves navigating a tight rental market after losing their home to foreclosure.

The percentage of homeowners who refinanced with a Freddie Mac-owned loan in the first quarter of 2008 and received mortgages with loan amounts higher than their original mortgages, fell to the lowest levels since early 2004.

Special Olympics Spring Games
Join the celebration of the 40th Anniversary of Special Olympics Chicago.

WASHINGTON - HUD's Assistant Secretary for Housing-Federal Housing Commissioner Brian D. Montgomery has been awarded the prestigious Robert J. Corletta Award for Achievement in Affordable Housing. Presented by the National Association of Home Builders (NAHB), Montgomerywas recognized for his commitment to creating more affordable housing opportunities and solutions.

CHICAGO-A Chicago-based company is acquiring the 152,922-sf industrial building, which is 50% leased by the Chicago Transit Authority.

WILLOWBROOK, IL-Landlord Prime Group Realty Trust signs tenants to other decent-sized office leases around Chicagoland.

The unemployment rate fell because a lot of people have part-time jobs, even though they would prefer to work full-time.

Actress Andie MacDowell has bought land in an environmentally focused mountain community in western North Carolina and plans to build an eco-friendly house there … plus more.

June Fletcher explains why it may be another 12 months until the market improves.

A bill meant to help homeowners caught up in the spreading mortgage crisis received committee approval Thursday after Democrats fended off numerous Republican challenges to the bill.

Total construction activity for March 2008 ($1,123.5 billion) was 1.1 percent below the revised February 2008 ($1,136.5 billion). Please see our web site for further details: http://www.census.gov/constructionspending

March 2008: -1.1 % change
February 2008: 0.4 % change

WASHINGTON - U.S. Department of Housing and Urban Development Deputy Secretary Roy A. Bernardi today joined HUD staff to serve lunch at So Others Might Eat (SOME), in recognition of National Volunteer Week.  SOME is a community-based organization that provides daily needs such as clothing, healthcare, and serves nearly 1,000 meals to men, women, and children each day.

ELWOOD, IL-The Midwest distribution center will be constructed in the CenterPoint Intermodal Center.

GENEVA, IL-The Eagle Ridge Resort & Spa has an 80-room resort and golf course in addition to 283 rental units and homes.

Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts.

Many people now find they owe more than their home appraisal. What should they do? Senior reporter Holden Lewis, who covers mortgages and writes the Mortgage Matters blog, answers another batch of common questions about refinancing.

Each week, Bankrate.com surveys experts to gauge which way interest rates are headed on mortgages -- a vital tool if you're about to buy a home.

Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts.

Mortgage rates nudged up a fraction, and tight credit conditions continue. But FHA-insured mortgages are growing by leaps and bounds.

The Fed's rate cut could push long-term mortgage rates higher if the Fed's action is deemed inflationary.

In this real estate environment, lowball bids are more common. But how do you determine the difference between an insult to the seller and a smart bid?

The efforts of Robert Maguire III to buy a sizable portion of the company he founded may be bolstered by a letter from Brookfield, offering to purchase his company's Los Angeles properties for nearly $750 million.

Struggling U.S. homeowners could receive federal loans to pay down as much as 20% of their principal under a proposal by the FDIC to help stem foreclosures.

WASHINGTON – A Jacksonville, Florida homeless program is the recipient of the 2007 HUD Secretary’s Opportunity and Empowerment Award for excellence in planning. Funded in part by the U.S. Department of Housing and Urban Development, the Clara White Mission received this year’s award for its aggressive plan to provide permanent housing solutions for chronically homeless individuals and families.

ZION, IL-The company is developing the business park, which will have 217 acres for the first two phases, and could have up to 500 acres when complete.

Lenders are seeing a rapid rise in defaults on a type of mortgage that gives consumers with good credit several different monthly-payment options.

... Center on the market earlier this year with expectations that it would fetch $60 million or more. The Chicago real estate investment firm has owned the building since 2001, when it acquired the assets of Great Lakes REIT , Oak Brook, Ill. Great ...

WASHINGTON- The Bush Administration has put in place responsible solutions to help American families stay in their homes and avoid foreclosure, U.S. Department of Housing and Urban Development Deputy Secretary Roy A. Bernardi said today. Delivering the keynote address at the Federal Home Loan Banks Annual Directors Conference, Bernardi highlighted President Bush's responsible plan to strengthen the economy and help homeowners by allowing HUD's Federal Housing Administration (FHA) to be "a good safeguard against foreclosure."

People here can bunk up together like in Brooklyn if they want, but real estate is a lot less expensive than in New York. ... According to Carol Coletta, president and CEO of Chicago-based research organization CEOs for Cities, roughly two-thirds of ...

CHICAGO-The up-and-coming bank sees the move into the hallowed hall of LaSalle Street finance as part of its growth plan, which was blamed for a Q1 net loss Monday.

CHICAGO-The three apartment buildings on South Shore Drive have a combined 97% occupancy rate.

SCHAUMBURG, IL-The facility, sold by Milwaukee-based VK Suites, is undergoing a $5 million repositioning into a Hyatt Place Chicago/Schaumburg.

Real estate broker Mary Jane Galviso snapped up two bags -- the limit imposed by this particular store. "This is very ... At the Chicago Board of Trade, rice futures have historically been one of the most thinly traded contracts. However, with ...

Homeownership Rate (HR)
The homeownership rate in the first quarter 2008 (67.8 percent) was lower than the first quarter 2007 rate (68.4 percent). The homeownership rate in South was lower than the corresponding rate a year ago, while the rate in the other regions did not change significantly.

Rental Vacancy Rate (RVR)
The rental vacancy rate in first quarter 2008 (10.1 percent) remained about the same as the first quarter 2007 rate (also 10.1 percent).

Homeowner Vacancy Rate (HVR)
The homeowner vacancy rate in first quarter 2008 (2.9 percent) was not statistically different from the first quarter 2007 rate (2.8 percent).

1st Qtr 2008
(HR): 67.8 percent
1st Qtr 2007
(HR): 68.4 percent

Sales of new one-family houses in March 2008 were at a seasonally adjusted annual rate of 526,000. This is 8.5% below the revised February 2008 figure of 575,000.

March 2008: -8.5 % change
February 2008: -5.3 % change

(Crain’s) — Trump International Hotel & Tower officially opened its doors to the public Monday after a months-long dry-run (think soft opening) to get out the kinks in its hotel, restaurant and spa operations. “It’s better than we ever expected,” said Eric Trump, who took a ...

CHICAGO — The high-stakes court room drama was all about politics, patronage and payoffs. Illinoisans watched in fascination as George Ryan, the once-mighty Republican governor, fought to avoid a one-way ticket to federal prison but lost.

GRAYSLAKE, IL-The company is scrapping plans to convert the remaining 293 units at Grays Pointe to condominiums.

WESTMONT, IL-Oakmont Circle One is 90% leased, with tenants including JP Morgan Chase & Co. and KeyBank.

CHICAGO-The REIT is getting two separate loans from ING and GE totaling $138 million, with another $50 million acquirable for future leasing and redevelopment costs.

The Federal Reserve is expected to give consumers another break this week -- a quarter-point cut in short-term interest rates.

I haven't been posting to the blog this week because I am a juror on a civil trial that began Monday.

The Federal Reserve is expected to give consumers another break this week -- a quarter-point cut in short-term interest rates.

MORTIMER Zuckerman, owner of the New York Daily News, has submitted a $US580 million bid for Tribune's Newsday in a move to challenge a preliminary deal forged by News Corporation for the Long Island newspaper, according to a person familiar with the situation.

CHICAGO — Gov. Rod Blagojevich's campaign has received nearly $6 million in donations since 2000 that came in the form of checks written for exactly $25,000, according to a published report.

Several weeks ago, Mary J. Brown was among the first group to start classes at a new senior center in her apartment building.

Buyers opt for fixer-uppers to get 'dream' homes affordably

Despite its dated look, Lauren Wulf saw potential in a 600-square-foot studio at Lake Shore Drive and Addison Street. With the same owner for 30 years, it had received little attention as the resident aged.

Q : Our building has more than 500 units and approximately 20 to 30 are in foreclosure process. More than $300,000 in assessments are past due.

United Feature Syndicate

Tom Rosenberg was a Hollywood producer and a partner in a Chicago real estate firm that managed $2 billion in assets, not the kind of guy easily pushed around.

Most times you get what you pay for, but sometimes you luck out. Here are a few true deals, with features of higher-end products for less money.

CHICAGO-A partnership is selling 515 N. State St., now 94% leased to tenants such as the American Medical Association. The AMA is looking to move out.

LOMBARD, IL-Midwest Real Estate Equities is redeveloping the 204,000-sf shopping center, called Landings of Lombard, with retail condos.

Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts.

Maxing out a home equity line of credit may impact your FICO score, says Dr. Don Taylor.

Organic Plant Sale 5/17 & 18
Purchase organically grown vegetable seedlings at this annual event.

Home Tweet Home 5/10
Learn all about our feathered friends at this event at Montrose Beach.

Bird Watching 5/3
This event at Washington Park is for the birds!

Mother's Day thru 5/11
Celebrate Mother's Day in the parks!

Theatre Pr