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:
Wednesday - Clear. High of 68F. Winds from the North at 5 to 10 mph shifting to the ENE in the afternoon.
Beach Hazard Statement for Cook County in effect until 4:00 AM CDT on June 19, 2013
CHICAGO—The seven loans cover multifamily assets across several upscale or sought-after neighborhoods.
RE/MAX Premier Properties of Chicago now has a new luxury specialist. Christos Papanastasatos, a real estate broker with six years experience in the metropolitan Chicago real estate market and a focus on high-end homes, joined the Gold Coast brokerage located at 1205 N. Dearborn Pkwy.
CHICAGO—In this UPDATE to yesterday’s story, Avison Young’s Erik Foster says e-commerce investors will look beyond the top-tier assets.
Real Estate; Wonderwall; Horoscopes; Shopping; Yellow Pages; Local Edition; Traffic; Feedback; Maps & Directions; Travel; ... Cops Nab 1st Chicago Gang Members Under ...
RE/MAX Premier Properties of Chicago now has a new luxury specialist. Christos Papanastasatos, a real estate broker with six years experience in the metropolitan Chicago real estate market and a focus on high-end homes, joined the Gold Coast brokerage located at 1205 N. Dearborn Pkwy. in late May. (PRWeb June 18, 2013) Read the full story at http://www.prweb.com/releases/2013/6/prweb10846097.htm
Privately-owned housing starts in May 2013 were at a seasonally adjusted annual rate of 914,000. This is 6.8 percent (+/- 10.1%)* above the revised April 2013 estimate of 856,000.
May 2013: +6.8* % change
April 2013: -14.8 % change
Tampa homeowners probably need the government's help more than in other places.

CHICAGO—The company has snapped up 19 major purchases in the past year, including several in the Fox River Valley.
CHICAGO—Investors will have two main options, Avison Young reports. Either buy in industrial markets like LA, Indianapolis or Dallas, or dense, urban infill areas like NYC or Chicago.
A 35 percent increase in sales of attached homes (primarily condominiums and townhouses) helped the overall residential market post a 30 percent gain in total sales when compared to May of last year. The detached-home segment of the residential market registered a 27 percent sales increase. (PRWeb June 17, 2013) Read the full story at http://www.prweb.com/releases/2013/6/prweb10843151.htm
Real estate, Real estate, Donald Trump, chicago; Share on Facebook. Discuss. 0. About NBC News; Contact us; Mobile site; US; World; Politics; Business; Tech; Science ...
clout-heavy Chicago real estate developer is set to land a long-term deal to provide aircraft storage, fueling and maintenance at Gary's government-owned airport. The deal with Elzie Higginbottom Jr.'s East Lake Management & Development comes after ...
More builders say sales conditions are good rather than poor, confirming earlier signs of a housing recovery.

CHICAGO—The investor signs its third Chicago deal, this time on the upscale Northwest side.
DES PLAINES, IL—The new venture will help commercial real estate users increase efficiency, especially in deregulated energy markets like Illinois.
Real estate Progress has been slow in cleaning up mortgage mess; On the show Does Kraft's 'Zesty' print ad go too far? ... according to Chicago Real Estate Daily.
The brewpub is in the middle of its second rent dispute in five years. [ more › ]
Real Estate; Wonderwall; Horoscopes; Shopping; Yellow Pages; Local Edition; Traffic; Feedback; Maps & Directions; Travel; ... Rahm, Goodell Revive Chicago Super Bowl ...
... referrals from hundreds of satisfied clients as well as a strong online presence including the Chicago real estate blogs E. Randolph St. and North Harbor Dr. She also has a new real estate search app for mobile devices which can be installed by ...
Kristine Chen Frost has been awarded the Top Producer Award from The Chicago Association of Realtors for being in the top 1% of realtors in Chicago and has been named to the prestigious President’s Circle by Prudential Real Estate. The awards are given to residential sales professionals who exemplify great sales measures in closed residential gross commission income and establish Kristine as ...
CHICAGO—This month’s MB Real Estate Index shows that direct vacancy rates in the CBD’s newest buildings has fallen to 10%, but overall direct vacancy in the CBD was stagnant.
OAK BROOK, IL—The company has recently purchased several high-quality, high traffic suburban locations with solid leases.
CHICAGO-Property & Building Co., a subsidiary of IDB Holding, is going to sell the Barneys building on Oak Street here for $154 million.
Read full story for latest details.

Read full story for latest details.

U.S. retail and food services sales for May reached $421.1 billion, an increase of 0.6 percent (+/- 0.5%) from the previous month.
May 2013: +0.6 % change
April 2013: +0.1* % change
These five cities dedicate the most land and money per resident to their park systems and the results show, with plenty of green spaces for residents to enjoy, according to the Trust for Public Land.

CHICAGO—In this UPDATE to yesterday’s story, Bruce Miller from Jones Lang LaSalle says the suburbs-to-city migration, along with many other factors, will continue giving strength to the CBD’s office market.
CHICAGO—The developer has secured Fresh Market as an anchor tenant and says the grocer will attract shoppers looking for an alternative.
Read full story for latest details.

... the balance between risk and reward, international demand and sales, youth violence and its impact on Chicago real estate and much more. Event seating is limited, and registration is required at EventBrite.com . The workshop will take place in the ...
IRVINE, CA—The amount of available housing has plunged, but Midwestern homebuyers have the best chance of picking up cheap, bank-owned homes.
CHICAGO—At BOMA/Chicago’s market review luncheon, attendees heard that the CBD could see sinking vacancy rates trend back up if moves toward efficiency take hold across the market.
CHICAGO—In this UPDATE to yesterday's story, the investment firm says they can bring high-vacancy properties like Continental Towers back to life.
NEW YORK CITY-Ivanhoe Cambridge, which last week purchased the Wells Fargo Center in Seattle for $390 million, has along with a partner acquired a 49% stake in 1211 Avenue of the Americas here.
From the tin ceilings of the 1910's to the millennial "snail showers," these design elements and amenities were certainly signs of their times. And, according to Trulia, they can often be big selling points for homebuyers.

Manufacturing corporations' seasonally adjusted after-tax profits were $152.5 billion for the first quarter of 2013, up $14.4 (+/- 0.2) billion from fourth quarter of 2012.
1st Qtr. 2013: 14.4 $ billion
4th Qtr. 2012: 3.0 $ billion
Read full story for latest details.

Is the foreclosure crisis over? Depends on where you stand.


Say goodbye to ultra-low mortgage rates.

RE/MAX reports that the luxury segment of the Chicago real estate market, consisting of homes that cost $1 million or more, showed impressive strength through the first four months of 2013.
RE/MAX reports that the luxury segment of the Chicago real estate market, consisting of homes that cost $1 million or more, showed impressive strength through the first four months of 2013. The number of residential sales in that segment increased 32 percent during the period when compared to the same four months last year. In [...]
When politics grow heated in Latin America, home buyers from the Panama Canal to Tierra del Fuego flock to Miami looking for a safe place to park their assets.

RE/MAX Broker/Owner Kathy McCauley-Dames will bring three decades of experience to the metropolitan Chicago real estate market of Plainfield, Ill., when she opens her newest RE/MAX Ultimate Professionals brokerage there this autumn.
RE/MAX reports that the luxury segment of the Chicago real estate market, consisting of homes that cost $1 million or more, showed impressive strength through the first four months of 2013.
It doesn't require a huge expense to improve the look and feel of your closet.
It doesn't require a huge expense to improve the look and feel of your closet.


RE/MAX reports that the luxury segment of the Chicago real estate market, consisting of homes that cost $1 million or more, showed impressive strength through the first four months of 2013. (PRWeb June 04, 2013) Read the full story at http://www.prweb.com/releases/2013/6/prweb10802024.htm
From Land Rover's posh Range Rover to the redesigned Toyota RAV4 , SUVs took 10 of the top 16 spots on May's fastest-sellers list. Expectedly, redesigns ranked high on the list. The 2014 Subaru Forester is selling so fast Subaru dealers can't keep up inventory , and the Range Rover, Hyundai Santa Fe and Mercedes-Benz GL-Class — all redesigned — have repeat appearances among the fastest sellers.


Jun. 4, 2013 - CHICAGO -- CHICAGO, June 3, 2013 - RE/MAX reports that the luxury segment of the Chicago real estate market, consisting of homes that cost $1 million or more, showed impressive strength through the first four months of 2013.
CHICAGO (Reuters) - CME Group Inc < ... The exchange operator hired Holly Duran Real Estate Partners and Newmark Grubb Knight Frank to market the NYMEX building.
... to a buyer's lack of funding - identifying one or more programs for which their listings qualify. The Chicago Real Estate Forum is dedicated to promoting Chicago real estate news and trends. Their blog promotes news of interest to consumers and ...
Read full story for latest details.

... light is let in through six windows, and the custom kitchen is ideal for any cook or host. With the Chicago real estate market well on its way for a turnaround, I highly recommend that buyers keep an eye on what is selling at what price in the ...
Sales of new homes are on a tear, but builders can't find enough workers to keep up with the demand.

RE/MAX Broker/Owner Kathy McCauley-Dames will bring three decades of experience to the metropolitan Chicago real estate market of Plainfield, Ill., when she opens her newest RE/MAX Ultimate Professionals brokerage there this autumn. (PRWeb June 03, 2013) Read the full story at http://www.prweb.com/releases/2013/6/prweb10795016.htm
Jun. 3, 2013 - CHICAGO -- CHICAGO, May 31, 2013 - RE/MAX Broker/Owner Kathy McCauley-Dames will bring three decades of experience to the metropolitan Chicago real estate market of Plainfield, Ill., when she opens her newest RE/MAX Ultimate Professionals brokerage there this autumn.
This report provides annual statistics on the characteristics of new privately owned residential structures — such as the type of wall material, number of bedrooms and bathrooms, type of financing, heating and square footage — for the U.S. and the four national regions. The data are gathered from the Census ...
Total construction activity for April 2013 ($860.8 billion) was 0.4 percent (+/-1.6%)* above the revised March 2013 ($857.7 billion).
April 2013: +0.4* % change
March 2013: -0.8 % change
CHICAGO — An 87-year-old grandmother took on billionaire Donald Trump. And on Thursday, she lost. Jurors sided with the real estate mogul-turned-TV showman in a ...
Real Estate; Wonderwall; Horoscopes; Shopping; Yellow Pages; Local Edition; Traffic; Feedback; ... Next story in Chicago, IL Alpana Singh Leaving "Check, Please" related
Real Estate; Wonderwall; Horoscopes; Shopping; Yellow Pages; Local Edition; Traffic; ... Obama Visits Chicago Today For Fundraising Events When Obama Loved Reporters
Read full story for latest details.

Real Estate Digital ... MRED serves Chicago and the surrounding "collar" counties and provides property information encompassing northern Illinois, ...
Government assistance program to help mortgage borrowers, HAMP, gets extended for two more years.

Mortgage interest rates have risen half of a percentage point from record lows.

Read full story for latest details.

In a dramatic about-face for the housing market, sellers are now calling the shots.

Real Estate; Wonderwall; Horoscopes; Shopping; Yellow Pages; Local Edition; Traffic; Feedback; Maps & Directions; Travel; ... Chicago Beaches Open as Temps Dip Into ...
Read full story for latest details.

This report examines the affordability of homes in 2009 at different price levels, chances of affordability by demographic characteristic, reasons why families and unrelated individuals couldn't afford a home, and the impact of possible policy changes (such as modified down payments and interest rates) on affordability for renters. The data ...
Real Estate Digital (RED), ... MRED serves Chicago and the surrounding "collar" counties and provides property information encompassing northern Illinois, ...
Real Estate; Wonderwall; Horoscopes; Shopping; Yellow Pages; Local Edition; Traffic; Feedback; Maps & Directions; Travel; ... Chicago Beaches Open as Temps Dip Into ...
CHICAGO, April 30, ... SCORE will use its 2012 allocation to help finance real estate and operating businesses that create manufacturing and heath care jobs, ...
New residents are flocking to these 10 cities, which added the largest number of people between July 2011 and July 2012, according to Census Bureau.

Real Estate; Wonderwall; Horoscopes; Shopping; Yellow Pages; Local Edition; Traffic; Feedback; Maps & Directions; Travel; ... Severe T-Storm Warnings Issued for Chicago
Chicago real estate firm @properties moves up nine spots on the list of the largest real estate brokers in the U.S. We continued to open new offices, recruit top-producing brokers, and invest in new marketing, technology and training programs.
Chicago real estate firm @properties moves up nine spots on the list of the largest real estate brokers in the U.S. Chicago real estate firm @properties has moved up the list of the nation's largest real estate brokers once again, ranking 21st in the annual REAL Trends 500 Report, based on 2012 closed sales volume.
Sales of new single-family houses in April 2013 were at a seasonally adjusted annual rate of 454,000. This is 2.3 percent (+/- 12.8%)* above the revised March 2013 estimate of 444,000.
April 2013: +2.3* % change
March 2013: +3.5** % change
... revealed a few weeks ago and underscore the outstanding productivity of RE/MAX brokers when it comes to Chicago real estate sales. RE/MAX brokers increased the number of C.A.R awards they took home at the Platinum, Gold, Silver and Bronze levels by ...
Twenty RE/MAX brokerages serving the metropolitan Chicago real estate market as part of the RE/MAX network in northern Illinois were among those recognized in the 2013 REAL Trends 500 analysis of the nation's most productive residential real estate firms.
A Morton Grove company is moving its headquarters to Chicago, Chicago Real Estate Daily reports.
... services programming. --- A renovated, formerly abandoned Washington Park home that once belonged to Chicago real estate great Jesse Binga, founder of an early African-American Bank. The renovated 3,500-square-foot mini-mansion today honors Binga, ...
The Chicago real estate firm looks to further bolster its position and #1 market share in Uptown and the surrounding communities.
WASHINGTON - For the second time this year, the U.S. Department of Housing and Urban Development (HUD) will sell thousands of severely delinquent mortgage loans insured by the Federal Housing Administration (FHA) as part of a broader effort to address the housing market's shadow inventory and to target relief to areas experiencing high foreclosure activity. This summer, HUD will sell approximately 20,000 distressed loans through its expanded Distressed Asset Stabilization Program (DASP) to increase recoveries to FHA's Mutual Mortgage Insurance (MMI) Fund from non-performing FHA-insured loans, while contributing to stabilization and recovery in some of the nation's communities hit hardest by the housing crisis.
WASHINGTON - U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today announced a second round of grants for more than 500 local homeless housing and service programs across the U.S, provided through HUD's Continuum of Care Program. This year, HUD challenged local communities to reexamine their response to homelessness and give greater weight to proven strategies, from providing 'rapid re-housing' for homeless families to permanent supportive housing for those experiencing chronic homelessness (see attached chart).
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) and Enterprise Community Partners (Enterprise) showcased Native American communities' use of sustainable design and construction strategies today at the National Museum of the American Indian. The event is part of HUD's and Enterprise's continuous effort to promote sustainable construction techniques in Indian Country.
Homeownership Rate (HR)
The homeownership rate in the first quarter 2013 (65.0 percent) was lower than the first quarter 2012 rate (65.4 percent). The homeownership rate in the South was lower than the corresponding first quarter 2012 rate, while the rates in the Northeast, Midwest, and West were not statistically different from the rates a year ago.
Rental Vacancy Rate (RVR)
The rental vacancy rate in the first quarter 2013 (8.6 percent) was not statistically different from the first quarter 2012 rate (8.8 percent).
Homeowner Vacancy Rate (HVR)
The homeowner vacancy rate in the first quarter 2013 (2.1 percent) was not statistically different from the first quarter 2012 rate (2.2 percent).
1st Qtr 2013
(HR): 65.0 percent
1st Qtr 2012
(HR): 65.4 percent
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) announced today that it has reached a Conciliation Agreement with Primary Residential Mortgage, Inc. (PRMI), in Salt Lake City, UT, settling allegations that the lender denied a Baltimore, Maryland woman a mortgage loan because she was pregnant and on maternity leave.
WASHINGTON - New guidance released today by the U.S. Department of Housing and Urban Development (HUD) and the Department of Justice (DOJ) reinforces the Fair Housing Act requirement that multifamily housing be designed and constructed so that it isaccessible to persons with disabilities. Read HUD and DOJ's new guidance.
Renter households increased to 35.4 percent in 2011. Find out more on Friday, April 26, 2013, at approximately 9:15 a.m. EDT as Arthur Cresce, assistant division chief for housing statistics in the Social, Economic and Housing Economic Statistics Division at the U.S. Census Bureau, discusses statistics about U.S. housing characteristics. ...
When faced with a choice, many homeowners decide to improve their homes, rather than to move. They modernize the kitchen, replace the roof, finish the basement, add a bathroom, or make their home more energy efficient. A new "How Do We Know?" infographic, "Home Improvements," uses results from the 2011 ...
The rental vacancy rates for the nation declined from 8.4 percent in 2009 to 7.4 percent in 2011, according to one of two American Community Survey briefs covering the housing market released today by the U.S. Census Bureau. Approximately four times as many metro areas experienced declines in rental vacancy ...
The nation's elementary-secondary public school systems spent an average of $10,615 per pupil in fiscal year 2010, up 1.1 percent from the previous year, according to statistics released today by the U.S. Census Bureau. District of Columbia public schools spent $18,667 per student in 2010, which is the most of ...
Feb. 17, 2012. If you are in the market to buy a home this spring, Wheaton-based J. Lawrence Homes wants to clear up five common misconceptions about buying a new-construction...

Feb. 16, 2012. An affiliate of the Belgravia planned for a 12-month sellout last April when it acquired 11 unsold condominiums at 23 N Aberdeen in Chicago's West Loop.
Four mo...

Feb. 15, 2012. 235 Van Buren, a striking new Ralph Johnson-designed 46-story condominium in the Loop, is launching a rent-to-own program on selected units, as detailed in this...

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 ...

2012 Permits
Everything you need to reserve your desired Chicago Park District space
2012 Budget
Download 2012 Budget Summary and Recommendations
Museum Free Days 2011
Museums throughout the city waive their general admittance fee on varying days of the week.
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.
(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 ...
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 ...
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 ...
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 ...
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 ...
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?
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 credit card interest rates.
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 mortgage shoppers and ARM holders.
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.
30 Year:
null%,
15 Year:
null%,
5 Year:
null%,
1 Year:
null%