Manufacturing corporations' seasonally adjusted after-tax profits averaged 3.2 cents per dollar of sales for the first quarter of 2009, up 8.2 (+/- 0.1) cents from the after-tax losses average of 4.9 cents for the fourth quarter of 2008.

1st Qtr 2009: +8.2 cents
4th Qtr 2008: -12.1 cents

Today - Mostly cloudy. Occasional showers in the morning...then scattered showers in the afternoon. Cool. Highs in the lower 70s...except near 70 along the lake. Light and variable winds early in the morning becoming southeast around 10 mph in the late morning and afternoon. Chance of precipitation 80 percent.

Civil rights leader, real estate mogul, and abundantly productive author of Chicago history Dempsey Travis died Thursday. He was 89.

Civil rights leader, real estate mogul, and abundantly productive author of Chicago history Dempsey Travis died Thursday. He was 89.

TopTenRealEstateDeals.com is a new independent website offering Top 10 lists of today's best deals on luxury real estate for sale. (PRWeb Jul 3, 2009) Read the full story at http://www.prweb.com/releases/2009/07/prweb2604564.htm

Fraud alert! Yet another scam designed to separate homeowners from their money is making its way across the country from the West, where desperate sellers in some of the nation's more dismal markets are willing to accept just about any kind of compensation to get out from under.

Q We are in the final steps of completing a refinance of our barely year-old $410,000 mortgage. We were pleased with the interest rate drop, and our local bank was generous in dropping many of the so-called "junk fees" associated with a refinance. However, we are being charged $1,007 for title insurance. When I asked our banker about this, the response was basically, "Well, yes, it is a rip-off but there is nothing we can do about it."

It's by far the hottest controversy in real estate this summer, and it could directly affect the value of your house –– probably negatively –– by tens of thousands of dollars.

New growing seasons offer opportunities to remember how your plants fared last year and consider what you'd like to see this season. Your garden could need only small changes: Maybe azaleas have gotten a unkempt and need pruning. Perhaps bed edges require a touch-up, a tree is too big or a specimen plant too small. Careful and constant maintenance always makes a big difference.

Homebuilders are offering discounted interest rates to lure buyers back into the market.

Donatelli specializes in renovating vintage homes

Many home builders prefer to start with a blank slate, sans obstacles such as aging infrastructures and historic district rules. Give them a hunk of open land and they're good to go. But Chris Donatelli prefers the challenges and rewards of a gut rehab.

chicagotribune.com/homefinder

Quiet setting, diversity of homes draw families

When Patti and Paul Noble decided to build a custom house, they looked to a northwest suburb where they had fond memories -- Crystal Lake.

Builders have interior motives for adding built-in features

They were mighty hard to find in the barren McMansions of the 1980s and 1990s. But, now, say builders and architects, they're baaack.

Highland Park is perhaps best known for its lakefront location, Ravinia performance venue and a median home price slightly under half a million dollars.

They've been dubbed "jewel-box houses" -- small homes designed with top-quality materials, upscale detailing and custom built-ins.

July 2, 2009. With five new towers comprising hundreds of new condominiums, The Enterprise Companies’ can offer something for just about any buyer looking for a new home near...

Title: ELCA Seminary Measuring Effect of Mccormick Decision to 'Disengage' ELCA NEWS SERVICE >July 2, 2009 ELCA Seminary Measuring Effect of Mccormick Decision to 'Disengage' 09-146-FI CHICAGO (ELCA) -- The Lutheran School of Theology at Chicago (LSTC) asked a special finance task force to assess the impact of a decision by the board of neighboring McCormick Theological Seminary.

(AP) — Global Hyatt Corp., the privately held hotel and resort company, said Thursday it has changed its name to Hyatt Hotels Corp. The renamed Hyatt Hotels is the parent of companies that own, operate, manage and franchise hotels, resorts and timeshare properties. Based in Chicago and ...

TopTenRealEstateDeals.com is a new independent website offering Top 10 lists of today's best deals on luxury real estate for sale.

CHICAGO-The national real estate capital services firm has secured $4.8 million in refinancing for a 36-unit and 16-unit building in Lakeview.

Public Notice
A Chicago Park District Board Meeting will be held on Wednesday, July 8, 2009

Opus Group: Local operation 'healthy' as sister firms file for bankruptcy protection Regional Opus Group operating companies in Washington, D.C., and Phoenix are filing for bankruptcy protection, the Minnetonka, Minn.-based parent company announced Tuesday. But Rosemont-based Opus North Corp. and ...

(Crain’s) — A little-known developer has struck an agreement with the village of Oak Park that clears the way for an $85-million hotel and condominium tower to be built in the west suburb’s downtown. The Oak Park Village Board voted earlier this week to approve a redevelopment agreement ...

30 Year: null%, 15 Year: null%, 5 Year: null%, 1 Year: null%

(AP) — Fitch Ratings on Wednesday raised the investment-grade ratings of Ventas Inc., citing steps the real estate investment trust has recently taken to shore up its capital position. The credit ratings agency upgraded its issuer default rating for Ventas and its subsidiaries to BBB from BBB-. ...

RREEF, the grand dame of real estate investing, is on shaky ground. One of its flagship funds — the $2.6-billion RREEF America III — might go bankrupt. This month, German department store chain Arcandor A.G. — a RREEF tenant through a sale-leaseback as part of a consortium — went ...

ADDISON, IL-The environmentally friendly cleaning supply company purchased the 5.8-acre property at 111 S. Rohlwing Road for $3.5 million.

WASHINGTON - The U.S. Department of Housing and Urban Development announced today that it is awarding 2,500 rental assistance vouchers to 37 public housing authorities across the U.S. to reunite more than 7,500 children with their parents. The children are currently in foster care.

... RE/MAX is the leader in northern Illinois real estate sales and has been number one in the metropolitan Chicago real estate market since 1989. In 2008, the RE/MAX network in northern Illinois closed nearly $8 billion in sales.

RE/MAX City, with offices at 6900 W. Belmont Ave. and 7020 W. Higgins Road, Chicago, and its sales associates, recently received special recognition from the RE/MAX Northern Illinois real estate network for their sales success in 2008.

RE/MAX recently introduced an extensive redesign of its popular Web site, www.remax.com, geared to meet the challenges of the current real estate market. In its new and improved form, www.remax.com should be especially welcome in major metropolitan areas, such as the Chicago real estate market. (PRWeb Jul 2, 2009) Read the full story at ...

RE/MAX recently introduced an extensive redesign of its popular Web site, www.remax.com, geared to meet the challenges of the current real estate market. In its new and improved form, www.remax.com should be especially welcome in major metropolitan areas, such as the Chicago real estate market.

The 30-year fixed-rate mortgage fell 10 basis points, to 5.7 percent, according to Bankrate's weekly survey.

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.

The U.S. economy ditched a lot more jobs in June than observers had expected.

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.

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.

Do the footwork first to find a deal on a foreclosed home. Here's what you need to know.

The housing bust has finally clobbered super-pricey Manhattan home prices.

Read full story for latest details.

CHICAGO-The former chairman and CEO will now pursue other ventures and is toying with the idea of creating a new company.

CHICAGO-Michael McKiernan will serve as principal and managing director of the real estate firm's recently opened office here.

After loading up on lavish office space near the top of the market, some firms are trying to sublease what they don't need for as much as 30% less than their rental rate.

Home sales continued their modest upward swing in May, according to a closely watched industry report that rose for the fourth straight month for the first time in nearly 5 years.

The number of former mortgage lenders and brokers finding ways to make a living from the foreclosure crisis continues to mount.

Industry experts say the United Kingdom's commercial-property market is starting to recover, but property companies are facing declining rents.

Real-estate-investment trusts staged the best performance in their history during the second quarter on growing perceptions that most REITs are out of immediate danger.

WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced an expansion of the Obama Administration's Home Affordable Refinance Program to include participation by borrowers who are current but up to 125 percent underwater on their mortgage. Under authorization provided by the Federal Housing Finance Agency, borrowers whose mortgages are currently owned or guaranteed by Fannie Mae and Freddie Mac will now be allowed to refinance those loans according to the terms of the Home Affordable Refinance program established earlier this year.

Read full story for latest details.

CHICAGO-The purchase allows the real estate firm to expand into the property and condominium association management business.

(Crain’s) — Amcore Bank has filed to collect a nearly $12-million loan from a husband-and-wife team of developers who were planning a 140-home subdivision in far southwest suburban New Lenox, an area that has been hard hit by the steep decline in new home sales. Rockford-based Amcore alleges ...

(Crain’s) — Chicago restaurateur Jerry Kleiner will run an upscale bar at the 16-screen Kerasotes movie theater that’s set to open later this year in the South Loop. Mr. Kleiner, the creator of Carnivale, Red Light and Gioco restaurants, has been consulting Kerasotes executives on ...

(Crain’s) — A bankruptcy court judge has ordered that Sheldon Good & Co. be put up for auction next month with the bidding starting at $1.2 million, a lofty price for a Chicago firm whose 2009 commissions were less than half that amount through May. The company's founder, Sheldon Good, 76, is ...

(Crain’s) — Evanston condominium developer Thomas Roszak has filed for bankruptcy protection after struggling to pay off his debts during the worst housing market in decades. Known for his projects in Evanston and downtown Chicago, Mr. Roszak said he has assets of $1 million to $10 million ...

A mortgage broker can be a big help on a land refinance that includes a so-called "story loan."

(Crain’s) – The court-appointed receiver for Chicago-based Wextrust Capital LLC plans to hand the former Day’s Inn hotel in Lincoln Park back to its lender, Amalgamated Bank of New York. The receiver filed a motion Monday seeking court approval to relinquish Wextrust’s interest in the ...

(Crain’s) — Chicago home prices posted a record drop in April of nearly 19% compared to a year ago, but were unchanged from where they were in March, according to a closely watched housing index. Chicago was one of six cities nationwide that posted record-setting, year-over-year price ...

CHICAGO-The national real estate capital services firm has made eight new hires, the most senior of which is naming of Wagner to director of operations.

(AP) - Court records show that former Chicago Bulls star Eddy Curry's suburban Chicago mansion is in foreclosure. Documents show that as of Friday, Curry was more than $217,000 behind on his $3.7 million mortgage. Records show Curry and his wife, Patrice, took the 30-year mortgage out in July ...

CHICAGO-The group's annual Top 100 Real Estate Compensation Analysis found that executive base salaries were flat and cash bonuses declined.

Home prices continued to tumble in April, falling 18.1% from a year earlier -- but the change from March narrowed sharply, indicating that housing markets may be starting to turn.

1. You have to seriously undercut the competition

WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced that HUD is approving plans submitted by state housing finance agencies for $1,035,322,485to jump start affordable housing programs in states throughout the countrythat are currently stalled due to the economic recession. Funded through American Recovery and Reinvestment Act of 2009 (Recovery Act), HUD's new Tax Credit Assistance Program (TCAP)will allow 26 state housing finance agencies to resume funding of affordable rental housing projects across the nation while stimulating employment in the hard-hit construction trades.

CHICAGO-The group's annual Top 100 Real Estate Compensation Analysis found that executive base salaries were flat and cash bonuses declined.

A condominium homeowner may benefit from a mortgage refinance on an interest-only loan.

CHICAGO-Reed Construction has hired Kevin Tattersall from his previous employment as project manager with Turner Construction.

Read full story for latest details.

FRANKLIN PARK, IL-The trucking company has signed an 11-year lease tobecome the first tenant to occupy the recently completed 3720 River Rd.

Recession and rain have the 2009 house-walk season off to a stumbling start. Though the Sheffield Garden Walk isn't until mid-July, Laury Lewis, president of the Sheffield Neighborhood Assn. and chair of the organization's annual garden walk, already is worried: Several homeowners have told him ...

The annual number of foreclosures has grown 183% since the start of the decade, but that's only part of the story. Find out who's getting hit the hardest and see a map of the areas that are still overleveraged. Also, the decline and fall of the banking empire in Illinois. View the full PDF ...

When the easy money was flowing, you could get a great deal on a mortgage from just about anyone. But in today's credit-challenged world, all the avenues for finding a mortgage come with their own set of problems.

The House passed the conentious energy/climate change bill, formally called the American Clean Energy and Security Act of 2009, by a razor-thin 219-212 margin. The vote came right down to the wire and its outlook was uncertain in the hours leading up ...

Homeowners dream of a new retirement home but fear the nightmare of holding two mortgages.

Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to

... upon a time, two-flats were a popular way for new buyers, such as Bhattarai, to get their feet wet in Chicago real estate. Buy a building that stretches your budget a bit, rent out one floor to help pay your mortgage, sit back and watch your ...

If you want to find your inner guerrilla gardener, try this advice from Kelda Miller and Tom McGuire.

TACOMA, Wash. -- When Kelda Miller finishes work, she rides around Puyallup, Wash., tending vegetable beds at offices, a church, some apartment blocks. In season, she'll pick fruit or greens, then head to her Sumner, Wash., home to a garden filled with enough produce for her to sell on weekends.

Is it that school is out and they're suddenly omnipresent in the house? Or that Hen's little chicks live in rooms that are (still) awaiting a few finishing touches? (It's called pacing yourself, OK?) Either way, we're thinking kid rooms, and how to design one with staying power while navigating around the land mines presented by princess prints and "Star Wars" sheets. We'll have all the answers in our new Sunday section on July 5. But until then, we've pulled together some great kid room ideas -- including the one pictured above -- on our Facebook page, Henrietta @ Home.

Q I rent a condominium and was ready to purchase the unit. Because I was obtaining an FHA loan, I was denied the right to purchase the unit by the association.

Back to the '60s: Reconsidering the split-level

Like "Star Trek" and Neil Young, split-level homes are remnants of the 1960s that have never really gone away.

So you planted trees this spring. Those trees' first years in the ground -- and especially this very first year -- are important to their future strength and beauty.

Clay has been used for centuries in everyday living. For those who use it to earn a living, such as potters, an abundance of clay in the soil is vital. But for those of us trying to grow a garden, excessive amounts can be a real challenge.

A long, cool spring with lots of rain has been just what lawn grass loves, making it hard for us to keep ahead of its lush growth. But don't think you can save mowing by scalping the lawn too short. What you will do is weaken your lawn.

OLYMPIA, Wash. -- Bob and Shari Buelt's waterfront home is a study in elegance.

With prices and mortgage rates down, plus a run of foreclosures, the classic Chicago structure re-emerges as a good investment

Anup Bhattarai has been watching a lot of YouTube lately. Not that he has idle time on his hands -- quite the opposite, in fact.

With prices and mortgage rates down, plus a run of foreclosures, the classic Chicago structure re-emerges as a good investment Anup Bhattarai has been watching a lot of YouTube lately. Not that he has idle time on his hands -- quite the opposite, in fact.

Ricketts, Tribune closer to Cubs deal

Emaar, the Middle East's largest developer, is in talks to merge with three state-controlled property firms because of a sharp downturn in the emirate's property market.

Negotiations between family, Tribune Co. are gaining steam, sources say The Ricketts family's bid to buy the Chicago Cubs from Tribune Co. is gaining momentum, a week after the media company said it was "assessing other alternatives" regarding its planned sale of the ballclub.

Negotiations between family, Tribune Co. are gaining steam, sources say The Ricketts family's bid to buy the Chicago Cubs from Tribune Co. is gaining momentum, a week after the media company said it was "assessing other alternatives" regarding its planned sale of the ballclub.

The Ricketts family's bid to buy the Chicago Cubs from Tribune Co. is gaining momentum, a week after the media company said it was "assessing other alternatives" regarding its planned sale of the ballclub.

The Ricketts family's bid to buy the Chicago Cubs from Tribune Co. is gaining momentum, a week after the media company said it was "assessing other alternatives" regarding its planned sale of the ballclub.

SCHAUMBURG, IL-The EPA has awarded the designation to 425-475 N. Martingale, a two-building complex owned by a joint venture.

Affordable oceanfront property can be hard to find. But you can buy a sweet lake house for under a million. Here are four of them on the market now.

WASHINGTON - Mercedes Marquez was unanimously confirmed as an Assistant Secretary at the U.S. Department of Housing and Urban Development. As the former general manager of the City of Los Angeles Housing Department (LAHD), Marquez will lead HUD's Office of Community Planning and Development which administers nearly $8 billion in programs designed to stimulate community development, affordable housing, as well as a variety of special needs assistance programs.

WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to 28 storm-ravaged counties in Kansas and provide support to homeowners and low-income renters forced from their homes due to severe storms, flooding, straight-line winds, and tornadoes.

WOODRIDGE, IL-The auction firm will auction off the recently completed one, two and three-bedroom units for nearly 70% off the original price.

The combination of a deep recession and widespread law-enforcement funding cuts will most likely spell a banner summer for burglars. If your house makes a good target - it's upscale, off the beaten path, and in or near a city - an alarm system is your best defense, according to Temple University economics professor Simon Hakim, who studies security and policing. Installing one will reduce your risk of a break-in by two-thirds. To determine what you really need, follow the guidelines below.

Lawn goes from 'fishbowl' effect to fabulous

When the Barnes family moved into their $1.3 million Monterey Mediterranean home in Orlando's Baldwin Park two years ago, they were thrilled with everything except the backyard.

Choose equipment with child's age, safety in mind

Selecting just the right play set for your family might be a tad tougher than a cruise down the slide. With so many options to mull and factors to consider -- children's ages, yard size, safety hazards, materials and cost -- getting the right set to fit your family could take a little time. So ask a lot of questions before investing in equipment family and friends will play on for years. We've done a lot of the homework already.

The advice is to lock your mortgage rate on the dips, and yesterday, we had a dip.

Combination of rural and urban location appealing

When building an addition onto their older home proved to be too tall an order, Tall Oaks in Elgin provided a solution for the Hudziak family.

Accessibility and affordability lure home buyers

For Chinese and Chinese-Americans, the word "jia" is not lost in translation. Loosely interpreted, it means family or home, even homeland.

The warning bells sounded pretty loud and clear earlier this month when a top banking regulator compared the potential risks of reverse mortgages with the subprime lending crisis.

chicagotribune.com/homefinder

Seniors interested in downsizing and remaining active, can tour two decorated models at The Condominiums of Willow Falls in Crest Hill.

Chicago-area builders say demand for this cozy outdoor space is rising

Years ago, parents knew a fail-safe way to quietly monitor the first romantic forays of their teenagers. When the teens returned home with dates to sit on the front porch swing, the parents simply listened for that old swing's slow, telltale squeak.

One of the most expensive supplies in a renovation project is the paint. It's hard to believe, since it's just paint, but paint a room with cheap stuff and it shows. High-end paint can run you $100 a gallon. So here are a few tips on buying paint without taking out a second mortgage on your home:

The right price is key to those who must sell in hurry

Are you unemployed but have been lucky to land a good job in another state? Yet is it financially imperative that you sell your current home to buy again in the new city?

CHICAGO-The diversified bank holding company restructured its lease at the Aon Center, 200 E. Randolph, and extended the lease term beyond 2014.

WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today encouraged a gathering of public housing officials, energy experts, developers and architects to continue exploring innovative practices to build energy-efficient, affordable housing and communities through HUD's HOPE VI Revitalization program.

MCCOOK, IL-The development firm has begun work on Clarius Park McCook at 9200 W. 55th St., which will consist of 369,000 square feet in two buildings.

CHICAGO-GlobeSt.com's Katie Hinderer interviews speakers recently at Incisive Media's RealShare Chicago event.

RE/MAX Vision , 7528 W. North Ave., Elmwood Park, recently honored four employees who received special recognition from the RE/MAX Northern Illinois real estate network for their sales success in 2008. They have been named to membership in one of five honorary clubs, each recognizing an important level of achievement in sales productivity.

... RE/MAX is the leader in northern Illinois real estate sales and has been number one in the metropolitan Chicago real estate market since 1989. In 2008, the RE/MAX network in northern Illinois closed nearly $8 billion in sales. The network's Web ...

Wednesday's biggest gaining and declining stocks

Just because mortgage brokers don't like it, doesn't mean the HVCC is a good thing.

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.

There will be public comment opportunities before changes go into effect Newly threatened CTA service cuts could range from longer wait times between buses or trains for passengers, to scaled back hours of operation and even the scrapping of some bus routes until the economy improves, the transit agency's chief said Wednesday.

Sears Roebuck and Co. was the building's original tenant before the department store moved its headquarters to the Chicago suburb of Hoffman Estates in 1992. A real estate investment group formed in 2004 now owns the 1,451-foot skyscraper. Officials ...

Sears Roebuck and Co. was the building's original tenant before the department store moved its headquarters to the Chicago suburb of Hoffman Estates in 1992. A real estate investment group formed in 2004 now owns the 1,451-foot skyscraper. Officials ...

Sears Roebuck and Co. was the building's original tenant before the department store moved its headquarters to the Chicago suburb of Hoffman Estates in 1992. A real estate investment group formed in 2004 now owns the 1,451-foot skyscraper. Officials ...

Sales of new one-family houses in May 2009 were at a seasonally adjusted annual rate of 342,000. This is 0.6% below the revised April 2009 estimate of 344,000.

May 2009: -0.6 % change
April 2009: +2.7 % change

CHICAGO-The company has designed the social networking site catered toward commercial real estate professionals.

Sales of newly constructed homes fell unexpectedly in May and were down almost a third from last-year's levels, a government report said Wednesday.

The Mortgage Bankers Association has slashed its estimate of the number of mortgages its members will issue in 2009. One reason: Few refinancings are being done under President Obama's ballyhooed Home Affordable Refinance Program.

Stocks expected to move significantly in Wednesday’s trading include Darden Restaurants, H.B. Fuller, GM, Jabil Circuit, Medtronic, Monsanto, Oracle, PetSmart, and Rite-Aid.

SCHILLER PARK, IL-Having recently launched a distressed assets division, the firm has been selected to complete the REO properties in four states across the country.

Home prices are at their most affordable in many years, which has opened up homeownership to many who had been locked out during the housing boom. And now, the federal government -- and many states - are launching plans to hook up buyers of repossessed properties with very attractive terms.

Chicago real estate firm @properties today announced the acquisition of Chicago property management company Venterra Management Corp.

Leading independent brokerage firm looks to expand services with acquisition of Chicago property management company specializing in commercial and residential real estate

If the federal funds rate doesn't move the needle, find out what affects mortgage, home equity, auto loan, CD and credit card rates.

The Fed meets today, and rates could be volatile after it's scheduled announcement at 2pm.

No help from the Fed? Follow these tips to make your money go further.

Two real estate companies, a title company, an investment company and 37 people have been charged in mortgage fraud cases in the Chicago area that cost lenders $48 million, federal ...

Existing home sales rose in May, as increasingly affordable home prices and a first-time tax credit attracted hesitant buyers.

Jonquil Park Celebration 6/27
Newly Renovated Jonquil Park Opens to Community

Jonquil Park Celebration 6/27
Newly Renovated Jonquil Park Opens to Community

CHICAGO-The national real estate capital services firm has appointed Michael E. Grant to work securing financing for Midwestern clients.

CHICAGO-The firm has promoted Michael Yazbec, effective next week, to oversee and grow its Chicago Construction Services group.

DEERFIELD, IL-Stores are going to receive a new customer-centric format through 2010 after a 35-unit pilot program.

Why a legal settlement disturbs mortgage brokers, appraisers, Realtors, buyers and sellers.

... for expansion of a tax credit for first-time home buyers that has helped spark home sales in an otherwise dismal real estate ... Obama is set to address the annual meeting of the AMA in Chicago on Monday, and today he reiterated his strong belief that ...

The seeds of a housing recovery have already been planted, according to a report released Monday. In fact, many of them were sown starting in 1979.

These are tempting times for real estate bargain hunters. Whether it's the tony house down the street with an asking price that keeps dropping or office space at a deep discount, if you have the means, there are deals to be had. Individual investors snapping up foreclosed houses have helped boost home-sale figures sharply in recent months (although prices have remained depressed). And now some real estate investment trusts are raising money to fund acquisitions of distressed commercial properties.

CHICAGO-McMorgan & Co. has brought CB Richard Ellis in to sell the 311,000-square-foot office tower it has owned since 2004.

Drawing on her proficiency as a labor negotiator for the Illinois Nurses Assn., Pam Brunton parlayed a depressed real estate market and her family's financial stability into a housing coup. Ms. Brunton and her husband, Steve, purchased a foreclosed home in Evanston last fall from a small ...

Jim Merrion, 64, a vintage car enthusiast and regional director of Re/Max Northern Illinois in Elgin, once owned the official '57 caddy limo of former Chicago fire commissioner Robert Quinn. He fired up the lights and sirens for a friend's wedding. "I had a blast in that car." For more bells and ...

The number of empty houses dotting the local landscape continues to rise as more Chicago-area homeowners lose their properties to foreclosure. The local home vacancy rate hit 3.8% in the first quarter, up from 3.7% in the fourth quarter and 2.7% in the year-earlier period, according to the U.S. ...

With a mortgage approval in hand and no property to sell, Julie Kramer was poised to jump last February at a bargain price on a condo in River North. She paid $370,000 for a 1,600-square-foot unit in River Bank Lofts held by a relocation company. The two-bedroom, two-bath home came with a ...

Leah and Pete King took a hit when they sold their Glen Ellyn home in May at 23% below the original listing price but more than made up for it when they bought another house in the western suburb. They sold the first home for $250,000, a $75,000 markdown from the original listing price of ...

Life coach Elliott Collazo tried to sell his two-bedroom Lakeview condo for nearly two years before hiring a professional stager in January to make it look more appealing. He got a quick dose of reality. His beloved art collection had to go. His red and purple sofas, out the door. "I was really ...

Amid all the gloomy real estate news, it's easy to forget that these are the best of times for a lucky few home buyers with patience and cash.

WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to 46 storm-ravaged counties in Missouri and provide support to homeowners and low-income renters forced from their homes following last month's severe storms, flooding, and tornadoes.

WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to nine counties in Oklahoma and provide support to homeowners and low-income renters forced from their homes following this spring's wildfires.

WASHINGTON - The U.S. Department of Housing and Urban Development today joined President Obama's commemoration of the tenth anniversary of the Supreme Court's Olmstead decision by announcing that it will offer rental assistance to 4,000 non-elderly families with disabilities, including 1,000 vouchers specifically targeted to those transitioning out of nursing homes and other care facilities. Through its funding notice, HUD is seeking comment from public housing authorities and others to ensure this critically needed assistance is distributed and administered in the most effective manner possible.

The Internet is where it's at when it comes to selling homes these days. Is your selling agent wired in?

Buying a home was made very easy for first-timers several years ago. With prices at such low levels, are those loan packages still out there?

WASHINGTON - Sandra Brooks Henriquez was sworn in today as the Assistant Secretary for the Office of Public and Indian Housing (PIH) at the U.S. Department of Housing and Urban Development. Henriquez will oversee the nation's public housing and rental assistance programs that assist approximately 3.2 million low-income families across the U.S. She will also be responsible for HUD's Native American and Native Hawaiian programs, which serves 562 federally recognized tribes.

WASHINGTON - The U.S. Department of Housing and Urban Development today announced that $4 million is available to improve methods to detect and control lead-based paint, mold and other housing-related safety hazards that harm children. These grants will be awarded competitively to multiple Academic and non-profit institutions, State, Tribal or local governments that advance the recognition and control of residential health and safety hazards or improve our understanding of the link between housing and health.

Privately-owned housing starts in May 2009 were at a seasonally adjusted annual rate of 532,000. This is 17.2 percent above the revised April 2009 estimate of 454,000.

May 2009: +17.2 % change
April 2009: -12.9 % change

Beach season is here!
Beaches are now open. Please click here for locations and hours

WASHINGTON - The United States Interagency Council on Homelessness (USICH) met today for the first time under the Obama Administration. U.S. Secretary of Veterans Affairs Eric K. Shinseki chaired the meeting, at which U.S. Housing and Urban Development Secretary Shaun Donovan was elected rotating Chair for the upcoming year and U.S. Labor Secretary Hilda Solis was elected Vice Chair. U.S. Health and Human Services Secretary Kathleen Sebelius and Melody Barnes, Director of the White House Domestic Policy Council, attended the meeting.

Borrowers may like lower payments, but a mortgage that lasts for four decades isn't always best.

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.

Craftmobile Takes to the Road
Craftmobile returns to north side parks 6/22 - 7/31

Theater on the Lake thru 8/9
Come play with the CPD & the theatre community as we introduce a new beginning to an old tradition!

(AP) — E*Trade Financial Corp. said Wednesday it plans to raise $400 million in common stock, with Citadel Investment Group purchasing up to $100 million of the offer.

WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to 14 storm-ravaged counties in South Dakota and provide support to homeowners and low-income renters forced from their homes due to ongoing severe storms and flooding.

WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to 37 storm-ravaged counties in Arkansas and provide support to homeowners and low-income renters forced from their homes due to ongoing severe storms and flooding.

WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) today unveiled an enhanced website to promote equal access to housing programs by providing important HUD documents in 12 different languages. HUD's expanded Limited English Proficiency (LEP) website features factsheets, housing brochures and other forms in Amharic, Arabic, Armenian, Cambodian, Chinese, Farsi, French, Korean, Portuguese, Spanish, Tagalog, and Vietnamese, in addition to English.

(Crain’s) — Illinois Attorney General Lisa Madigan has sued a Chicago-based independent escrow company that went out of business in March without paying taxes on behalf of homeowner clients around the country. Ms. Madigan, working with the Illinois Department of Financial and Professional ...

ROLL OUT SUMMER FUN WITH THE 9
CHICAGO PARK DISTRICT'S OUTDOOR NEIGHBORHOOD SCREENINGS RUN JUNE 12 - SEPT. 1

WASHINGTON, D.C. - U.S. Secretary of Transportation Ray LaHood, U.S. Secretary of Housing and Urban Development Shaun Donovan, and U.S. Environmental Protection Agency Administrator Lisa P. Jackson today announced an interagency Partnership for Sustainable Communities to help improve access to affordable housing, more transportation options, and lower transportation costs while protecting the environment in communities nationwide. Testifying together at a Senate Banking, Housing, and Urban Affairs Committee hearing chaired by U.S. Senator Christopher J. Dodd, Secretary LaHood, Secretary Donovan and Administrator Jackson outlined the six guiding 'livability principles' they will use to coordinate federal transportation, environmental protection, and housing investments at their respective agencies.

WASHINGTON - The U.S. Department of Housing and Urban Development today announced that more than $58 million is available for a broad range of housing counseling programs to help families find and preserve housing. The funding is an increase of $11 million, or 23 percent, over last year. These grants will be awarded competitively to hundreds of HUD-approved counseling agencies and State Housing Finance Agencies that offer a variety of services including how to purchase or rent a home, how to avoid foreclosure, how to improve credit scores, and how to qualify for a reverse mortgage.

Economy forcing you to stay put in your existing home? Here are expert tips on how to realize less can be more and to realize, "There's no place like home."

The developer of one of the South Loop's most ambitious residential projects is preparing to tear up contracts with condominium buyers and convert the property into an apartment building. Such a switch by the 342-unit Lofts at Roosevelt Collection would portend a larger shift as a downtown condo ...

Residential real estate broker Peter Ferrel enjoyed his best year in 2006, closing a dozen deals at the height of the boom. A year later, the good times were over. His business suffering amid the housing slump, Mr. Ferrel, 39, considered finding another job until he switched to representing ...

Architect and developer Andy Schcolnik is reinventing himself, something he did once before, when he left home to spend 10 years meditating in India. Economics, not enlightenment, is the impetus for Mr. Schcolnik's latest transformation. With the housing market in the gutter, the owner of ...

In this topsy-turvy real estate market who stands to win and who's fighting an uphill battle?

Bankrate's annual interactive looks at how much home you can buy today for $400,000. In 2009? Quite a lot.

ILLINOIS: The Burris story continues… The Chicago Tribune : “Beleaguered U.S. Sen. Roland Burris added another layer ... threatened to do something sensible: sell such state assets as San Quentin prison, which sits on prime ocean-view real estate ...

... Shaun Donovan speaks to the National Association of Homebuilders; First Lady Michelle Obama visits an elementary school in DC; and Howard Dean announces the publication of his new book on health-care reform, “Howard Dean’s Prescription for Real ...

Movies in the Park: 6/12 - 9/1
Bring your blankets and baskets to one of many FREE movies showing this summer in a park near you!

Non-Motorized Water Sports
Click here for more information about Non-Motorized Water Sports Information and Safety Awareness

WASHINGTON - The U.S. Department of Housing and Urban Development today awarded two $250,000 grants to Canton, Ohio and Franklin County, Ohio to produce environmentally friendly, energy efficient housing. Each community intends to work with nonprofit Community Housing Development Organizations (CHDOs) to either construct or rehabilitate affordable housing units that are ENERGY STAR certified upon completion.

A homeowner wondering when to convert to a fixed-rate home equity loan faces a classic dilemma.

U.S. retail and food service sales for May reached $340.0 billion, an increase of 0.5 percent from the previous month.

May 2009: +0.5 % change
April 2009: -0.2 % change

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.

Some small business owners, including two wedding planners in Chicago, have decided to take the plunge and merge in order ... The company currently has 250 but is preparing itself for 1,000, including many agents left without a base as other real estate ...

... bugged out of its famous and renamed Tower, the down-and-out retailer could reclaim a piece of classic Chicago real estate and move in all of its remaining assets, including its Auto Centers. - LAZ Parking. Clearly our new parking meter overlords ...

WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD is allocating $3.7 billion in disaster aid to 11 States to help them recover from dozens of natural disasters last year. The emergency funding will support the States' long-term disaster recovery and is in addition to $2.4 billion HUD already allocated through its Community Development Block Grant (CDBG) Program. Donovan announced the additional funding following a tour of flood-damaged areas of Cedar Rapids, Iowa with Agriculture Secretary Tom Vilsack, Governor Chet Culver and Congressman David Loebsack.

WASHINGTON - There must be a coordinated national effort to produce healthier housing. That was the central message from U.S. Housing and Urban Development Deputy Secretary Ron Sims and Acting Surgeon General Steven K. Galson as they issued a national 'call to action' to confront the prevalence of home-related preventable diseases such as lead poisoning and asthma.

WASHINGTON - The U.S. Department of Housing and Urban Development's Mortgagee Review Board has suspended three lenders based on evidence of serious violations under HUD's regulations. The three lenders are Golden First Mortgage Corp of Great Neck, NY; Great Country Mortgage Bankers, Inc. of Coral Gables, FL; and Beneficial Mortgage Corporation of San Juan, PR.

... teachers, CTA, city laborers and city municipal workers). They used the money to invest in eight Chicago real estate properties. It was a risky business, as even they acknowledged. Now the deals have lost big money and raised troubling questions ...

Beverly, Chicago… sounds like I got me some competition for Lawrence O’ ;0 ... But I think the real problem with the emergency rooms is the use by uninsured to ... to edgartown, (the 'happening' place on the island) they wound up at an estate up ...

Yesteryear's flight to the suburbs is yielding to a return to the cities, thanks to sustainable elements, transit access and pricing. What to look for.

Chase Park Theatre
Shakespeare's comedy "Measure for Measure"

During the real estate boom, First Bank & Trust routinely rejected construction loans other small banks rushed to fund. Now, while those others face heavy losses, First Bank remains profitable. It seems traditional banking works.

WASHINGTON - A record 10,552 fair housing discrimination complaints were filed in fiscal year 2008, according to a report just released by the U.S. Department of Housing and Urban Development. The report, which is produced for Congress each year, shows that a large portion of the complaints, 44 percent, were filed by persons with disabilities. Thirty-five percent, or 3,699, of the complaints alleged discrimination based on race.

WASHINGTON, June 8, 2009 - Today, Department of Housing and Urban Development (HUD) Secretary Shaun Donovan and the National Fair Housing Alliance (NFHA) rolled out their national media campaign to fight foreclosures and discrimination.

The current economy may not be the best time to try out landlording.

All of Bank of Lincolnwood's deposits will be assumed by Republic Bank of Chicago, based in Oak Brook, Ill., which also ... While the pounding from losses on home mortgages may be nearing an end, delinquencies on commercial real estate loans remain a ...

June 5, 2009. Finding new information and updates on new home developments can be elusive to prospective homebuyers. Web sites don’t change very often and what they often la...

They are native to Chicago; according to Altenhoff, a love for the culinary arts is an inherited trait for this family. "He ... He owns a California real estate brokerage firm with wife Nadia; the couple has two children. "Food is in my blood," he said in ...

June 5, 2009. Every year, the Chicago Association of Realtors singles out a handful of new residential and commercial developments that promote neighborhood rehabilitation an...

It's a fact of life -- home builders are hurting big time. Unfortunate for them but it gives you a great chance to buy a brand new home and get a slew of extras thrown in.

With buyers scarce and financing tight, some home sellers are offering rent-to-buy options to potential buyers. In fact, there's been enough of a spike in interest that ForSaleByOwner.com added it as a search option on the site, says spokesman Eric Mangan.

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.

Chicago posted the biggest monthly gain in April, rising to 9.8 percent from 9.4 percent. Illinois Department of Employment ... Bend had been the center of the central Oregon real estate and construction boom, fueled by retirees from California. But the ...

19th Annual Beach Meet
Learn more about the 19th Annual Beach Meet at the 63rd Street Beach on July 18 & 19

TTY - Text Telephone
Click here to learn more about 312-747-2001, our TTY or Text Telephone line

Total construction activity for April 2009 ($968.7 billion) was 0.8 percent above the revised March 2009 ($961.3 billion). Please see our web site for further details: http://www.census.gov/constructionspending

April 2009: 0.8 % change
March 2009: 0.4 % change

Foreclosures are likely to shave $34 billion off Illinois home values this year, according to a new estimate. A nationwide study released last month by the Center for Responsible Lending in Durham, N.C., contains the first specific estimate of the impact of foreclosures on housing values in ...

Single-family home prices in the Chicago area are forecast to drop 6.1% this year, which would be the third-straight annual decline but still less than half as severe as last year's unprecedented fall. The market should stabilize next year with a dip of just 0.4%, according to a forecast by ...

(Crain's) — Chicago-area home sales fell more than 22% in April compared with last year but increased over the previous month for the third straight time, according to the Illinois Assn. of Realtors. Mortgage rates at record lows and incentives such as the federal homebuyer tax credit aided ...

May 21, 2009. Bruce Fogelson's development company, Paramount Homes, has a reputation for building "transit-oriented" developments near CTA rail stations. A couple of those d...

Homeownership Rate (HR)
The homeownership rate (67.3 percent) for the current quarter was lower than the rate in first quarter 2008 (67.8 percent), but not statistically different from the rate in fourth quarter 2008 (67.5 percent).

Rental Vacancy Rate (RVR)
The rental vacancy rate in first quarter 2009 (10.1 percent) was not statistically different from the first quarter 2008 rate (10.1 percent).

Homeowner Vacancy Rate (HVR)
The homeowner vacancy rate in first quarter 2009 (2.7 percent) was lower than the first quarter 2008 rate (2.9 percent).

1st Qtr 2009
(HR): 67.3 percent
1st Qtr 2008
(HR): 67.8 percent

(Crain’s) — Residents in some suburban Cook County townships will see a reduction in the assessed value of their homes as the tax system catches up with the real estate downturn. But because tax bills are paid in arrears, it won’t be known if homeowners will see any benefit until next ...

May 10, 2009. "Finding the best real estate professionals in any local area isn't easy," according to Joe Zekas, one of the founders of Chicago Real Estate Experts, a novel s...

Surplus Vehicles Auction
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... of deals for people who are liquid and can qualify." Meanwhile, Mark Weiss, president of his eponymous Chicago real estate firm, is taking a different tact as he tries to sell the Lincoln Park home he moved from three years ago. When it originally ...

... from the University of Michigan. Jarrett left her job as chief executive officer of Habitat Co., a Chicago real estate development firm, where she earned $302,000 last year, to work for the president. "I am quite mindful that he is the president of ...

A few weeks ago Joe Zekas met up with an old friend, Realtor Yehuda Cohen, to talk about Yehuda's 20-plus years of experience in Chicago real estate.

... the law adds one more layer of bureaucracy to the already-complex matter of closing a real estate deal. Chicago real estate agent Chuck Gullett, for example, says he believes the current requirement for sellers to produce government-issued ...

Nature Area Stewardship Days
Join us at one of these Volunteer Stewardship Days taking place in Park District nature areas.

2009 Permits Quick Start Page
Inside you will find everything you need to reserve your desired Chicago Park District space

(Crain’s) — Heritage Community Bank in south suburban Glenwood is now the second Chicago-area bank failure of 2009. The Federal Deposit Insurance Corp. announced late Friday that the bank, which has $232.9 million in total assets and $218.6 million in total deposits, was closed by the ...

Chicago Park District History
Learn about our 75 year history and read about "The City in the Garden".

Thoughts of GENO PETRO, top producing Web 2.0 Realtor and downtown Chicago Buyers Agent. Organic Chicago real estate-centric content, Short Sale advocacy, Chicago MLS Search Engine, plus an eclectic sidebar of urban lifestyle links to explore.(Roll ...