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:
Manufacturing corporations' seasonally adjusted after-tax profits averaged 4.3 cents per dollar of sales for the second quarter of 2009, up 1.6 (+/- 0.1) cents from the after-tax profits average of 2.8 cents for the first quarter of 2009.
2nd Qtr 2009: +1.6 cents
1st Qtr 2009: +8.0 cents
Oprah Winfrey was tearful Friday morning as she told her viewers she will be ending her daytime talk show in 2011. But a published report quotes Winfrey as saying, "Why would anybody stay in Chicago?"
Tonight - Mostly clear. Patchy fog after midnight. Lows in the upper 30s...except in the mid 40s downtown. Light and variable winds.
... indicated that Winfrey's new show will be based in Los Angeles, and that Winfrey hopes to divest her Chicago real estate "as soon as possible." Deadline.com quoted Winfrey as saying to "insiders:" "Why would anybody stay in Chicago? It's freezing ...
... indicated that Winfrey's new show will be based in Los Angeles, and that Winfrey hopes to divest her Chicago real estate "as soon as possible." Deadline.com quoted Winfrey as saying to "insiders:" "Why would anybody stay in Chicago? It's freezing ...
Morgan Stanley closed the chapter on its disastrous $6.5 billion acquisition of Crescent Real Estate Equities by handing the keys to lender Barclays.
(Crain’s) — How bad is the local housing market?
So bad that even the Home Builders Assn. of Greater Chicago has filed for bankruptcy protection.
Unable to pay its bills, the Rolling Meadows trade group filed for Chapter 11 protection Friday, nearly four years into a severe industry slump ...
(Crain’s) — Joseph Freed & Associates LLC will be stripped of control of Block 37.
A Cook County judge on Friday ruled to appoint a receiver to take over the project, where an underground pedway and a handful of retailers are to open this month.
Judge Margaret Brennan agreed to grant Bank ...
CHICAGO-GGP has reached an agreement with lenders to restructure $8.9 billion of secured mortgage loans, with an average maturity of 6.4 years.
United Airlines finalizes Willis lease
United Airlines signed its lease earlier this month at Willis Tower, a 15-year deal for up to 450,000 square feet on nine lower-level floors in the 110-story skyscraper, 233 S. Wacker Drive. A United spokeswoman confirms the deal was recently finalized and ...
Oprah Winfrey was tearful Friday morning as she told her viewers she will be ending her daytime talk show in 2011. "You, our viewers, have enriched my life beyond all measures," Winfrey said as her voice cracked. Winfrey said the reasons she plans to end the show is only because it's the right time to do so. "I love this show, this show has been my life, and I love it enough know when it's time ...
... indicated that Winfrey's new show will be based in Los Angeles, and that Winfrey hopes to divest her Chicago real estate "as soon as possible." Deadline.com quoted Winfrey as saying to "insiders:" "Why would anybody stay in Chicago? It's freezing ...
(Crain’s) — News that two owners of condo-hotel units at the Trump International Hotel & Tower face foreclosure was the most-viewed story in the past week at ChicagoRealEstateDaily.com. The top five in the past week as of Friday morning:
2 Trump hotel unit owners face foreclosure
Ald. ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... Ohio State, Penn State and Purdue universities; and the universities of Chicago ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... care professionals following an address at Stroger Hospital on Nov. 2 in Chicago.
... indicated that Winfrey's new show will be based in Los Angeles, and that Winfrey hopes to divest her Chicago real estate "as soon as possible." Deadline.com quoted Winfrey as saying to "insiders:" "Why would anybody stay in Chicago? It's freezing ...
Oprah Winfrey was tearful Friday morning as she told her viewers she will be ending her daytime talk show in 2011. "You, our viewers, have enriched my life beyond all measures," Winfrey said as her voice cracked. Winfrey said the reasons she plans to end the show is only because it's the right time to do so. "I love this show, this show has been my life, and I love it enough know when it's time ...
... indicated that Winfrey's new show will be based in Los Angeles, and that Winfrey hopes to divest her Chicago real estate "as soon as possible." Deadline.com quoted Winfrey as saying to "insiders:" "Why would anybody stay in Chicago? It's freezing ...
Here are the 5 metro areas where the average American family can afford to purchase a median-priced home -- and the 5 where they can't.

The Great Recession has ravaged savings and boosted unemployment rates, forcing people become more conservative with their cash. It has also made homes a lot more affordable -- at least for those people still working.

General Growth Properties said it reached a deal to restructure $9 billion in mortgages on 77 malls in hopes of removing them from bankruptcy protection by the end of the year.
Chicago real estate developer and fast food magnate Antoin "Tony" Rezko was a longtime fundraiser for Obama. Prosecutors have charged him with fraud, attempted extortion and money ...
Q. Our home was built and completed in October 2007. Twice in the past year during driving rain and high winds, we've experienced leaks. The first time, a leak started on the back porch over the exit door to the porch. The second and most recent time, it was a leak coming through the light fixture in the walk-in closet of one of the upstairs bedrooms.



A few years back, Tom Early and his wife decided to downsize from their 3,500-square-foot Tudor house. The sale went swimmingly and Early gives much of the credit to the couple's listing agent.



Borrowing a tactic from the corporate world, Doug Lellbach and Debra Bennett Lellbach conduct exit interviews with clients. The result: The Naperville-based home renovation team learns its strengths and weaknesses so it can continually improve.



Q I'm hoping you can give a brief explanation of the tankless water heater. I can't seem to make my husband understand. Our water heater is on the opposite side of our house from the bathrooms and laundry room. It takes running the water a long time before we get any warm/hot water. Isn't the tankless heater something that allows you to tap into hot water on demand?



Did you say you love candles? RealSimple.com shows their magic in 30 ways. Here's a sneak peek: Line votive or pillar candles on a vintage glass cake stand or stack varying sizes on a tray. Anchor votives in sand or tiny pebbles in wine glasses or flip champagne flutes upside down to place pillars on top. Fill large glass cylinders with small stones or marbles and secure candles in them or cluster tea lights in jelly jars on a tabletop. When possible, add a mirror. It adds radiance. -- Tribune Newspapers



Residents find little lacking in comfortable suburb
"I'm really happy to be here," says teacher Annie Darley, whose life trajectory proves: You can go home again. Although she and her husband just moved to River Forest a year ago, Darley also grew up here -- in a house her grandfather built, no less. After college, she spent a few years in Seattle, then moved to Chicago.



For the past several years, the Federal Housing Administration has been the go-to financing resource for cash-strapped homebuyers who can't come up with a big down payment. It has zoomed from barely a 3 percent market share to nearly 30 percent of home purchase loans. But now, wildly popular FHA-insured mortgages could be on the verge of becoming more expensive and tougher to obtain.



Make the choice that meets your lifestyle
Condo or town house? What's the difference? What should you buy?



Here's the latest two words from the Federal Housing Administration, at least for now: Never mind.



Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... EveryBlock is a new way to track news in your Chicago neighborhood, down to your city ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... The Senate on Thursday confirmed U.S. District Judge David Hamilton for the Chicago ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... The Senate on Thursday confirmed U.S. District Judge David Hamilton for the Chicago ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... could be moving the popular syndicated talk show, which currently films in Chicago, to ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... MIAMI - Four men described as soldiers in a terrorism plot to destroy Chicago's Sears ...
(Crain’s) — Looking to extend its hot streak of winning local public-sector work, Jones Lang LaSalle Inc. has hired a real estate veteran who once worked on the redevelopment of Times Square.
Karen Butler
Hiring Karen Butler as a managing director in the public institutions group is part ...
TIF tiff in the East Loop
Alderman Brendan Reilly’s opposition to creating a new tax increment financing district for the East Loop “surprised and disappointed” office building owners there who hired a consulting firm to do a TIF-eligibility study. “We were surprised and disappointed to ...
(Crain’s) — PrivateBank & Trust Co. has filed a foreclosure suit seeking to recover $3.85 million on a small office building in the Illinois Medical District on the Near West Side, an area where the recession has failed to curb demand for space.
PrivateBank sued Oct. 29, seeking to ...
CHICAGO-The University will take an additional 39,000 square feet at 401 S. State St.
Mortgage borrowers are still falling behind on their payments in record numbers, despite the many foreclosure prevention efforts initiated by the government and non-profits.

Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... whether or not to use a new branding logo for their upscale town, according to Chicago ...
(Reuters) — General Growth Properties Inc. expects 170 of its corporate entities to exit bankruptcy protection by the end of this year after reaching an agreement with creditors to extend loans, the mall operator told U.S. Bankruptcy Court in New York on Thursday.
The company reached a deal ...
Starwood will move its corporate headquarters to Stamford, Conn., from New York's Westchester County, after receiving state government incentives worth as much as $89.5 million.
The U.S. real estate arm of Africa Israel Investments has tentatively agreed with creditors to restructure its disastrous acquisition of the former New York Times headquarters in a deal that will wipe out $400 million in debt.
Semper fidelis, the U.S. Marine Corps motto, means "always faithful" in Latin. As a young grunt serving at Camp Lejeune, N.C., Duane Draughon learned to remain loyal to the mission -- "whatever the cost," he says.

Only a tiny percentage of troubled homeowners have received permanent modifications under President Obama's foreclosure prevention plan, raising concerns about the effectiveness of the $75 billion effort.

CHICAGO-The office market is likely to be the slowest to recover and will not see rent growth until the third quarter of 2011.
SALT LAKE CITY-The Long Term Disaster Recovery Working Group held its fourth of five planned stakeholder forums today in Salt Lake City-designed to encourage stakeholders to provide direct input and ideas for disaster recovery
Foreclosures are dominating the housing market. Right now, there are 1.5 million such homes for sale, and more are expected to be available soon. That provides both opportunities and pitfalls for bargain hunters.

Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... and United Kingdom, said Mr. Awlaki’s work had also turned up in cases in Chicago and ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... bill jumped from $4,000 when they held their convention in Orlando to $40,000 in Chicago ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... and, perhaps worse, doesn’t provide refunds to its clients, according to the Chicago ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... EveryBlock is a new way to track news in your Chicago neighborhood, down to your city ...
Nov. 18, 2009. The Brixton Group, Ltd., Hosts Second Annual Gift Drive Benefiting the Boys and Girls Club of ChicagoResidential Real Estate Development Company Collects Toy Do...

Home builders initiated construction of far fewer new homes in October than the month before, a big and unexpected drop for the struggling industry, according to a government report issued Wednesday.

(Crain’s) — Alderman Brendan Reilly (42nd) said he doesn’t support a new tax-increment financing district for the East Loop.
Mr. Reilly said the proposed TIF district was advanced by a handful of property owners who funded a TIF eligibility study and tried to convince him and other city ...
Housing counselors, who've received more than $400 million in federal funds to help mitigate the mortgage crisis, are helping troubled homeowners avoid foreclosure and lower their monthly payments, a study released Wednesday has found.

Penn National Gaming agreed to provide debtor-in-possession financing and buy the unfinished Fontainebleau luxury hotel and casino in Las Vegas for $50 million.
Donald Trump and his daughter, Ivanka, have reached a settlement agreement with a group of creditors in the bankruptcy battle over control of Trump Entertainment Resorts.
Mall owner hopes to take its coveted assets and emerge from bankruptcy. Rivals loom as spoilers.
(Crain’s) — In an apparent attempt to rid itself of a struggling client, Community Bank of Ravenswood earlier this year engineered the sale of Century 21 Sussex & Reilly to rival residential brokerage Sudler Sotheby’s International Realty, according to lawsuits filed over the deal.
But ...
(Crain’s) — In one of the largest downtown leases of the year, Robert Morris University increased its space about 14%, to 323,000 square feet, as part of a long-term lease extension at its main campus at 401 S. State St.
Robert Morris extended its lease until 2024 in the 463,232-square-foot ...
(Crain’s) — Donald Trump’s ritzy new downtown hotel is attracting guests no property owner wants to see: foreclosure lawyers.
In another bad sign for the New York developer, lenders have filed foreclosure suits on two condominium-hotel units in his 92-story Chicago skyscraper, which has ...
(Crain’s) — Schaumburg-based American Chartered Bank is moving its headquarters to the Woodfield Preserve office complex in one of the biggest new leases of the year in the beleaguered suburban office market.
The 15-branch bank, which focuses on small- and mid-sized businesses, this month ...
Business Briefs Provena meets criteria PLAINFIELD -- Provena Saint Joseph Medical Center Immediate Care received the certified Urgent Care designation. The clinic provides patients with walk-in, extended-hour medical attention with licensed providers for a large scope of medical conditions and has met all of the Urgent Care Association of America's established criteria. Immediate Care is ...
The London-based bank is having an easier time unloading homes foreclosed upon during the U.S. subprime crisis. But hurdles loom.
... any kids in. Scott originally had planned to develop the property in the 400 block of North Waller with Chicago real estate mogul Gerald Fogelson. The city agreed to sell them a half-acre lot for less than the appraised value in 2005 when Scott was ...
BOLINGBROOK, IL-The $14-million project, which was first announced in April 2008, contains 155-rooms on four floors.
... questions last summer about his service on the Chicago 2016 Olympic Committee when he disclosed involvement with a group developing city-owned vacant lots near the site of a proposed Olympic venue. Scott, who also owned a real estate development ...
WASHINGTON - Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat financial crime. The Department of Justice will lead the task force and the Department of Treasury, HUD and the SEC will serve on the steering committee. The task force's leadership, along with representatives from a broad range of federal agencies, regulatory authorities and inspectors general, will work with state and local partners to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, address discrimination in the lending and financial markets and recover proceeds for victims.
... questions last summer about his service on the Chicago 2016 Olympic Committee when he disclosed involvement with a group developing city-owned vacant lots near the site of a proposed Olympic venue. Scott, who also owned a real estate development ...
CHICAGO-The company plans to consolidate four regional headquarters and its corporate headquarters into the Chicago location.
Even Academy Award winners are suffering from financial woes this recession. Actor Nicolas Cage lost two homes in New Orleans worth a total of $6.8 million in a foreclosure auction Thursday.

CHICAGO Tribune Co., facing a challenge from dissident creditors who claim its 2007 going-private deal made the Chicago media giant insolvent from day one, is asking U.S. Bankruptcy Court in Delaware to give its management team another three months to craft a reorganization plan on its own.
U.S. retail and food service sales for October reached $347.5 billion, an increase of 1.4 percent (±0.5%) from the previous month.
October 2009: +1.4 % change
September 2009: -2.3 % change
In Chicago, 40-year-old real estate agent Adon Navarette has taken on extra jobs to make it, from consultant for an energy supply company to starting his own health and wellness ...
Downtown condominium developers limped through yet another quarter, but they have at least one reason to be thankful: The great condo building boom is coming to an end.
For the past three years, downtown developers have built more condos than they have sold, the result of overexuberance and an ...
Across the Chicago area, local government officials are hearing increasingly from employers that maintaining homes affordable to their workers isn't a maybe it's a must.
One might be surprised to learn that, since 2005, leaders in Lake Forest, which ranks among Illinois' wealthiest ...
CHICAGO-After seeing the River Point project fall through the investment firm has opted to stay put in the West Loop.
In Chicago, 40-year-old real estate agent Adon Navarette has taken on extra jobs to make it, from consultant for an energy supply company to starting his own health and wellness business. He's heard his peers sniping about other generations, but also ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... mother of three, recalling what led her to start the charity in her suburban Chicago home
CHAMPAIGN – Was it all "pie in the sky?" When the University of Illinois Research Park was proposed a decade ago, supporters talked of the park's potential to have 5,000 employees within a decade, or even five years.
CHAMPAIGN – At the University of Illinois Research Park, State Farm Insurance runs a consumer research center, Caterpillar operates a simulation center and Archer Daniels Midland has a mathematical modeling center. Over the years, park tenants have come to include large companies with satellite research operations or local startup companies like R Systems, which built a supercomputer in the park.
After three years of slumping house prices, the end of the real estate bust may finally be in sight. Home sales are rising, inventories are shrinking, and most economists believe values nationwide will hit bottom in the second half of the year -- but not before falling another 5% to 10% first.

... encounter not simply a rising global power but a nation that is transforming and challenging the way Americans live overseas and at home, from college classrooms to real estate offices ... Interstate 94 between Milwaukee and Chicago.
... encounter not simply a rising global power but a nation that is transforming and challenging the way Americans live overseas and at home, from college classrooms to real estate offices ... Interstate 94 between Milwaukee and Chicago.
Dream Town Realty won the nomination for "Favorite City Brokerage Web Site" by Chicago Agent magazine readers. The company is featured in a special 2009 Agents' Choice Award issue published on November 9. [PR.com - November 13, 2009]
Propelled by the first-time homebuyers tax credit, nearly half of home sales are now being made by first-time purchasers, according to an industry report released Friday.

Vrdolyak was caught on tape talking about plans to collect a bogus finder’s fee for a corrupt real estate deal, the Chicago Breaking News Center reports. But “Tank” Johnson and Brian Urlacher said in written statements that were made public ...
Public Notice
A Chicago Park District Board Meeting will be held on Wednesday, November 18, 2009
Robert Paul Properties, a real estate company serving Cape Cod and the South Coast, has joined Chicago-based Leading Real Estate Companies of the World.
From Chicago Real Estate Daily Elysian will open as a hotel next month without condo-hotel structure After months of negotiations with its lender, the developer of the Elysian Hotel & Private Residences has scrapped a plan to sell the project's 188 hotel suites as condominiums, removing a cloud of uncertainty over the new $280-million Gold Coast ...
CHICAGO-The wholesale supplier will consolidate a number of smaller locations in the market, moving into the new space in January.
... App that is still in development (www.dreamtown.com/mobile-search.jsp). The first ever "real time" Chicago real estate stats are also accessible to consumers on DreamTown.com. Users can get average home sale prices, listing prices, price per square ...
Community associations have a big legal headache these days. They, or their representatives, are spending increasing amounts of time on lawsuits and liability claims. Some of the action is initiated by boards, and some by residents. The disputes vary, but many are prompted by the economy.



More buyers, not just first-timers, can get tax break
Take a close, hard look at the new $6,500 federal tax credit for so-called "move up" homebuyers that passed the Senate and House last week. Though it's been getting second billing to the original $8,000 credit for first-time purchasers –– now extended by Congress through next June 30 –– the $6,500 credit for current homeowners just might have your name on it.



Preventive maintenance on household products is cheaper than replacing them
Taking the time to do a little preventative maintenance on household items is far less costly than having to replace a soiled carpet, broken vacuum cleaner or scratched TV.



Advice for those who can't retire until property sold
After hitting age 60, a small business owner and his school administrator wife longed to retire and travel abroad.



Britton Felber of Kankakee, photographer



This neighborhood on Chicago's northwest edge is anything but edgy
If peace and quiet are what you seek, look no further than Dunning.



When @Properties decided a year ago to give its Web site a makeover, its goal was to offer users more than good photos, property listing details and market statistics. It wanted to help them answer the real question: Can I live here?



Q We will soon have our mortgage paid off. Our home is valued at $120,000. Unfortunately, we owe about $50,000 in credit card debt. I took early Social Security and work part time. My husband will take full Social Security next March and continue to work full time. So we had planned to pay extra on the debt with his Social Security check and the fact that we will no longer have a house payment. This will likely take at least two years.



Time-tested designs get contemporary makeovers to satisfy today's buyers
They may have been small. They may have been cramped. And some of them might even have been called a bit chintzy. But post-war era ranch homes tend to spur warm recollections among many of the millions of Americans who grew up in them.



Naperville firm says design-build process is an open book
Back in the day, when "Amazon" meant a river in South America and "Yahoo" was the guy you didn't want your daughter to marry, a 2,000-square-foot Colonial house in suburbia was the utmost for many young families.



The mortgage meltdown has ravaged the finances of a crucial government agency tasked with propping up the housing industry.

(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 ...
You can't take it with you, not to prison, so the long list of material possessions amassed by Bernie Madoff during his years of ill-gotten gains will soon be sold off.

Could the foreclosure plague be ending?

With the real estate market in the cellar, some people are coming up with creative ways to sell their homes ... Chicago auctioneer Leslie Hindman said she has no interest in facilitating a “weird” auction like that. Stacy Peterson's family hasn't ...
Charlotte Street was an apocalyptic nightmare version of urban life.

CHICAGO-He will serve as executive vice president and managing director of the Retail Occupier Services Group.
... App that is still in development (www.dreamtown.com/mobile-search.jsp). The first ever "real time" Chicago real estate stats are also accessible to consumers on DreamTown.com. Users can get average home sale prices, listing prices, price per square ...
Shelbourne Development Group and Garrett Kelleher allege BofA miscalculated interest by using a 360-day year
The Irish developer of the Chicago Spire has fired back at Bank of America Corp., claiming the lender committed fraud and deception in arranging a loan used to start the now-stalled Spire.



CHICAGO (AP) - Chicago Fire goalie Jon Busch has enjoyed watching ... There's reports that Real owner Dave Checketts is negotiating to sell nearly half the franchise to local real estate developer Dell Loy Hansen. And there's the simple fact that ...
CHICAGO-Nearly 90% of respondents said sustainability is a major criteria when making leasing decisions and 41% always consider green certifications.
CHICAGO-The company will occupy space at 929 W. Cermak Rd. in a deal that is valued at $13 million.
The extension and expansion of the tax credit for home buyers that was signed into law by President Obama should help the metropolitan Chicago real estate market continue its recovery, according to Jim Merrion, regional director of the RE/MAX Northern Illinois real estate network. The credit will be especially helpful for the battered condominium market, which has experienced a dramatic ...
... branches in 23 states including California, Florida and Texas, and key cities such as New York and Chicago, Boston, St. Louis and Washington. The loan officers will work with personal bankers and referral sources, such as real estate agents and ...
... states including California, Florida and Texas, and key cities such as New York and Chicago, Boston, St. Louis and Washington. The loan officers will work with personal bankers and referral sources, such as real estate agents and builders, as ...
... states including California, Florida and Texas, and key cities such as New York and Chicago, Boston, St. Louis and Washington. The loan officers will work with personal bankers and referral sources, such as real estate agents and builders, as ...
... states including California, Florida and Texas, and key cities such as New York and Chicago, Boston, St. Louis and Washington. The loan officers will work with personal bankers and referral sources, such as real estate agents and builders, as ...
(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 ...
Some 650,000 troubled borrowers have been put into trial loan modifications under the president's foreclosure rescue plan, the Treasury Department said Tuesday.

The bleeding in the housing market seems to be stanched, at least temporarily, according to home price data released on Tuesday.

The merger of two long-established real estate firms in the Aurora-Naperville area has reshaped and strengthened the Re/Max organization in that segment of the metropolitan Chicago real estate market.
The merger of two long-established real estate firms in the Aurora-Naperville area has reshaped and strengthened the Re/Max organization in that segment of the metropolitan Chicago real estate market. The merger involved the acquisition of Re/Max Affiliates, with offices in Naperville and Aurora, by Re/Max Professionals Select of Naperville, which also operates Re/Max Professionals South in ...
... reducing inventory instead of taking on excess units. According to a review of the report by Crain's Chicago Real Estate Daily , about 900 downtown units will be finished in 2010 . Without having the report handy (we should get our summary any day ...
Fewer people are underwater on their mortgages -- further evidence that the real estate free-fall may be slowing.

EveryBlock Chicago. EveryBlock is a new way to track news in your Chicago neighborhood ... In the latest sign of the moribund real estate market, a local developer's proposing to ...
In the biggest downtown real estate deal of the year, a Miami developer has agreed to buy a Streeterville apartment tower for more than $80 million, despite a bleak job market that is expected to reduce the number of renters next year.
Crescent Heights Inc. has a contract to buy Cityfront Place, ...
EveryBlock Chicago. EveryBlock is a new way to track news in your Chicago neighborhood ... interested parties can bid on the house in the old fashioned way – through a real estate ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... Wednesday's lawsuit suggests those tensions remain. Chicago Sun-Times: Inspector General ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... Chicago native Gary Sherman, who’s directed such films as “Vice Squad” and ...
... Kozonis' request for their support saying they had already agreed to back the casino proposal of Chicago real estate billionaire Neil Bluhm. The Illinois Gaming Board in late December picked Bluhm's proposal to locate his casino on River Road north ...
FOX LAKE, IL-The elderly-housing development will include 100 units at the corner of Big Hollow Road and West Nippersink Road.
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... - Atlanta-Sandy Springs-Marietta - Detroit-Warren-Livonia - Chicago-Naperville-Joliet ...
House Minority Leader John Boehner today came out swinging against the Obama White House, saying it was guilty of "Chicago style politics ... candidates, former state party chairman Sue Lowden and real estate developer Danny Tarkanian.
CHICAGO- Three of the loans are part of the Freddie Mac CME program while the fourth loan is part of the Freddie Mac Capped ARM program.
Nov. 5, 2009. CMK Companies’ 1720 South Michigan high-rise in Chicago’s South Loop is just four sales away from a sellout, according to Managing Broker Scott Hoskins.
Sale...

... the Lisle Hilton, the Chicago Tribune reports. So auctioneer Michael Berland pulled it. Now the home is going back on the market so that said interested parties can bid on the house in the old fashioned way – through a real estate agent.
CHICAGO-The local firm has pulled two 25-year veterans from Jameson Realty as well as a broker from Sheldon Good & Co.
CHICAGO, IL--(Marketwire - November 4, 2009) - It seems like just a short time ago that Nick Ferro and Joseph DiPiazza were growing up in the Chicagoland area, being raised into families devoted to the real estate business in Chicago. Now, with a combined 60 years in Chicago real estate , the two are partners in one of the most innovative real estate development businesses in Chicago. Growing up ...
It seems like just a short time ago that Nick Ferro and Joseph DiPiazza were growing up in the Chicagoland area, being raised into families devoted to the real estate business in ...
NEW ORLEANS-The Long Term Disaster Recovery Working Group held the first of five planned stakeholder forums today in New Orleans. The Working Group, co-chaired by Department of Homeland Security (DHS) Secretary Janet Napolitano and Department of Housing and Urban Development (HUD) Secretary Shaun Donovan and comprised of the Secretaries and Administrators of approximately 20 departments and agencies, will provide President Obama with recommendations on how to improve long-term disaster recovery with a particular focus on catastrophic disasters.
CHICAGO-Another 18,050 square feet has been filled in the 280,000-square-foot development. The first round of stores will open this month.
Brand new home search technology is available on Dream Town's latest version of its leading Chicago real estate website. The newly redeveloped 4th generation site launched today with all new features for Chicago home buyers and sellers.
CHICAGO-The 56,000-square-foot medical office building will soon be joined by a 600,000-square-foot hospital on the property.
2009 Sportsfest
Join hundreds of gymnasts, tumblers and cheerleaders at Chicago's 2009 Sportsfest.
CHICAGO - Tribune Co., owner of The Chicago Tribune, the Los Angeles Times and several other ... Much of that debt was amassed when real estate mogul Sam Zell took the company private in 2007. Tribune properties across the country have undergone cost ...
CHICAGO - Tribune Co., owner of The Chicago Tribune, the Los Angeles Times and several other news outlets, will not use ... Much of that debt was amassed when real estate mogul Sam Zell took the company private in 2007. Tribune properties across the ...
... addition, the new @properties site delivers users approximately 15,000 more listings than most other Chicago real estate websites by offering a "Virtual Office" feed directly from Midwest Regional Data, Chicagoland's MLS. All @properties ...
CHICAGO-Three company officials are selling a portion of their common stock, 38 million shares, with the hopes of acquiring $988 million.
Total construction activity for September 2009 ($940.3 billion) was 0.8 percent above the revised August 2009 ($933.0 billion). Please see our web site for further details: http://www.census.gov/constructionspending
September 2009: 0.8 % change
August 2009: -0.1 % change
CHICAGO-Just shy of half the respondents said they plan to utilize auctions for property and note sales in 2010.
Money Movies Music News Real Estate/Rentals Shopping Sports Tech & Gadgets TV Weather White Pages Wonderwall Yellow Pages MSN Directory ... of Federal Reserve policymakers for hints as to whether the Fed will tighten credit following Friday's positive Chicago PMI ...
... years of your life playing football. How do you think that's differentiated you from other metro Chicago real estate executives? A As captain of New Trier's and Stanford's football teams, I had a chance to lead and compete in many pressure ...
Last year, Chicago real estate agent Jen Sanders was felled for five days by the seasonal flu after forgoing a flu shot for the first time in a decade. Stuck at home, she had to call other real estate agents to attend everything from home inspections ...
Last year, Chicago real estate agent Jen Sanders was felled for five days by the seasonal flu after forgoing a flu shot for the first time in a decade. Stuck at home, she had to call other real estate agents to attend everything from home inspections ...
Last year, Chicago real estate agent Jen Sanders was felled for five days by the seasonal flu after forgoing a flu shot for the first time in a decade. Stuck at home, she had to call other real estate agents to attend everything from home inspections ...
Last year, Chicago real estate agent Jen Sanders was felled for five days by the seasonal flu after forgoing a flu shot for the first time in a decade.
Last year, Chicago real estate agent Jen Sanders was felled for five days by the seasonal flu after forgoing a flu shot for the first time in a decade. Stuck at home, she had to call other real estate agents to attend everything from home inspections ...
Says the aspiring real estate asset manager, now seeking employment: "I had to accept the ... That's five percentage points lower than the top-ranked University of Chicago Booth School of Business. Part of the key to its success, says Mark Brostoff ...
Money Movies Music News Real Estate/Rentals Shopping Sports Tech & Gadgets TV Weather White Pages Wonderwall Yellow Pages MSN Directory ... one job offer within 3 months of graduation. That's five percentage points lower than the top-ranked University of Chicago ...
... of GENO PETRO, top producing Web 2.0 Realtor, Blogger, and downtown Chicago Buyers Agent. Organic Chicago Real Estate content, Short Sale advocacy, Chicago MLS Search Engine, plus an eclectic sidebar of Real Estate-centric links to explore.(Roll ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... adjectives used to describe working at marketing and advertising firm Euro RSCG Chicago.
WASHINGTON - The U.S. Department of Housing and Urban Development today announced that its Mortgagee Review Board (MRB) is proposing to permanently withdraw the HUD/FHA approval of Financial Mortgage USA, Inc., a Home Equity Conversion Mortgage (HECM or reverse mortgage) lender based in Honolulu, Hawaii. HUD's MRB alleges the Company failed to implement an FHA-required quality control plan; separate its lending operations from those of its affiliated insurance company; conform to prudent lending practices; and properly provide borrowers with housing counseling services.
CHICAGO-The locally-based company plans to focus on industrial properties through acquisition, development or operation.
NAPERVILLE, IL-Major store closures are not planned for 2010, the first year since 2006, though 25 doors will be shut in 2009.
ROSEMONT, IL-The company occupies 201,090 square feet just a block away from its new facility.
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... but added that the investigation is continuing under the supervision of the Chicago FBI ...
Homeownership Rate (HR)
The homeownership rate (67.6 percent) for the current quarter was not statistically different from the third quarter 2008 rate (67.9 percent) or from last quarter's rate (67.4 percent).
Rental Vacancy Rate (RVR)
The rental vacancy rate in third quarter 2009 (11.1 percent) was higher than the third quarter 2008 rate (9.9 percent).
Homeowner Vacancy Rate (HVR)
The homeowner vacancy rate in third quarter 2009 (2.6 percent) was lower
than the third quarter 2008 rate (2.8 percent).
3rd Qtr 2009
(HR): 67.6 percent
3rd Qtr 2008
(HR): 67.9 percent
WASHINGTON, DC - Treasury Secretary Tim Geithner and HUD Secretary Shaun Donovan called on Congress to approve three important measures to improve housing and the housing market for Americans: extension of the First Time Homebuyers Tax Credit for a limited period, extension of higher loan limits for home mortgages, and secure funding for the Housing Trust Fund.
The suburbs will also feel the sting with some Chicago area towns expecting median ... in Springfield, who in 2004 imposed caps on runaway tax assessments during the real estate ...
JazzCity Concert 11/6
JazzCity: Jazz/Tap - Orbert Davis Quartet & Tre Dumas at South Shore Cultural Center
Sales of new one-family houses in September 2009 were at a seasonally adjusted annual rate of 402,000. This is 3.6% below the revised August 2009 estimate of 417,000.
September 2009: -3.6 % change
August 2009: +1.0 % change
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... that because those cuts were made, and because of new deals with the unions, the Chicago ...
WASHINGTON - Housing and Urban Development (HUD) Secretary Shaun Donovan and Homeland Security (DHS) Secretary Janet Napolitano today announced the launch of DisasterRecoveryWorkingGroup.gov-a new interagency website that will allow federal disaster recovery officials to solicit public comments from state, local and tribal partners and the public.
EveryBlock Chicago. EveryBlock is a new way to track news in your Chicago neighborhood ... that don't need work can sell for up to $2.4 million, said Matt Garrison, the real estate ...
EveryBlock Chicago. EveryBlock is a new way to track news in your Chicago neighborhood ... that don't need work can sell for up to $2.4 million, said Matt Garrison, the real estate ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... CHICAGO - Children on widely used psychiatric drugs can quickly gain an alarming amount ...
CHICAGO - Americans' confidence about the U.S. economy fell unexpectedly in October as job prospects remained bleak, a ... The Standard & Poor's/Case-Shiller home price index, which studies real estate transactions in 20 major cities, showed home ...
CHICAGO - Americans' confidence about the U.S. economy fell unexpectedly in October as job prospects remained bleak, a ... The Standard & Poor's/Case-Shiller home price index, which studies real estate transactions in 20 major cities, showed home ...
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets; TV; Weather; White Pages; Wonderwall ... The media group also reported Monday that the Chicago Sun-Times' weekday average ...
... on him to disclose more details about his dealings with Chicago real estate developer Tony Rezko, who is on trial for corruption. In an interview published Friday in the Chicago ...
... have a special place in my heart for Pittsburgh, and so if it can't be the [Chicago ... on ha, ha, ha. Cantor’s top donors are Finance, Insurance. Law and Real Estate. Get this, the top donor (sectors) lobbyist are…Finance, Insurance and Real Estate.
CHICAGO - Capmark Financial Group, one of the largest U.S. commercial real estate lenders, has filed for bankruptcy protection amid mounting bad debt, becoming the latest casualty in the still turbulent U.S. real estate market. Capmark has been hurt ...
CHICAGO - Capmark Financial Group, one of the largest U.S. commercial real estate lenders, has filed for bankruptcy protection amid mounting bad debt, becoming the latest casualty ...
In its nearly three years in existence, Lexington Homes LLC hasn't turned a profit, but the Chicago homebuilder can lay claim to something many of its peers cannot.
At a time when well-known local builders such as Kimball Hill Inc., Kirk Inc. and Neumann Homes Inc. have gone belly up, Lexington's ...
Crain's Monday publishes its annual list of the largest contractors in Chicago.
Walsh Group Ltd. topped the list for the second straight year with $1.36 billion in local revenue in 2008. Bovis Lend Lease Inc., James McHugh Construction Co., Turner Construction Co. and Pepper Construction Group ...
A majority of the units at their Lincoln Park condominium project were unsold when Beth and Forest Bahruth moved in more than 30 months ago.
The couple said it felt strange to be among the only residents at the yet-to-be completed five-story building at Fullerton, Ashland and Clybourn avenues. ...
SPOTLIGHT: JAMES KINNEY
Job: Vice-president of luxury home sales, Baird & Warner Inc., a Chicago-based residential brokerage with more than 20 offices in the city and suburbs.
Vitals: 59 years old; bachelor's degree in English, Northwestern University, 1972; various positions including assistant ...
It was typical of many developers during the tail end of the housing boom to offer an iPod, flat-screen TV or an even bigger goodie to lure buyers into new townhouses or condominiums.
Today, those types of incentives are largely a thing of the past much like the boom itself. But even in a ...
With the local housing market finally showing signs of improvement, the question is what, if anything, developers and real estate agents can do to win back the trust of the newly sober public.
CHICAGO - Results from a new economic survey may ease concerns about rising unemployment and its effect on consumer ... ConsumerMan: Dealing with death in the digital age Volkswagen tries to pass Toyota as world leader Video: Real estate mess ...
CHICAGO - Results from a new economic survey may ease concerns about rising unemployment and its effect on consumer ... ConsumerMan: Dealing with death in the digital age Volkswagen tries to pass Toyota as world leader Video: Real estate mess ...
CHICAGO - Results from a new economic survey may ease concerns about rising unemployment and its effect on consumer ... ConsumerMan: Dealing with death in the digital age Volkswagen tries to pass Toyota as world leader Video: Real estate mess ...
CHICAGO - Capmark Financial Group, one of the nation's largest commercial real estate lenders, has filed for bankruptcy protection amid mounting bad debt.
CHICAGO - Capmark Financial Group, one of the nation's largest commercial real estate lenders, has filed for bankruptcy protection amid mounting bad debt. Capmark has been hurt by rising losses on mortgage loans. In its Chapter 11 filing Sunday in ...
Money Movies Music News Real Estate/Rentals Shopping Sports Tech & Gadgets TV Weather White Pages Wonderwall Yellow Pages MSN Directory ... An early success of the new strategy was a deal announced this month to sell assets from Corus Bank of Chicago to a group ...
Money Movies Music News Real Estate/Rentals Shopping Sports Tech & Gadgets TV Weather White Pages Wonderwall Yellow Pages MSN Directory ... An early success of the new strategy was a deal announced this month to sell assets from Corus Bank of Chicago to a group ...
... for example, regulators seized Corus Bancshares Inc., a major Chicago-based lender that made construction loans nationwide, specializing in condominium, office and hotel projects. The bank has staggered for weeks under the weight of bad real estate ...
... for example, regulators seized Corus Bancshares Inc., a major Chicago-based lender that made construction loans nationwide, specializing in condominium, office and hotel projects. The bank has staggered for weeks under the weight of bad real estate ...
... for example, regulators seized Corus Bancshares Inc., a major Chicago-based lender that made construction loans nationwide, specializing in condominium, office and hotel projects. The bank has staggered for weeks under the weight of bad real estate ...
Joined by Senator Charles Schumer, Secretary Shaun Donovan completed a two-city tour through Upstate New York today.
... rock that surpasses other types of sandstone with its durability and fine grain. In the world of Chicago real estate, Bluestone Development is a developer/builder that strives to produce single-family and multifamily homes that are a cut above. ...
The non-profit development arm of Park National Bank hopes to build as many as 3,000 new single-family homes, townhouses and low-rises on 138 acres in Pullman , according to Crain's Chicago Real Estate Daily .
Real Estate/Rentals; Shopping; Sports; Tech & Gadgets ... "I feel real blessed right now," Bailey said as he left Cook County Jail Monday, according to the Chicago Sun-Times.
(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 ...
WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced a series of proposals to ensure that HUD's core housing programs are open to all, regardless of sexual orientation or gender identity.
Privately-owned housing starts in September 2009 were at a seasonally adjusted annual rate of 590,000. This is 0.5 percent above the revised August 2009 estimate of 587,000.
September2009: +0.5 % change
August 2009: -1.0 % change
... investor has made a large real estate purchase in the Chicago area. No one from the company or the Chicago real estate community was willing to comment on the potential sale. But the companya TMs lawyer recently formed a group called 303 Madison ...
(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 ...
It's a lot tougher to get a mortgage for a new condo purchase these days, but at some projects, it seems like 2005 all over again.
MB Financial Inc. is offering enticing loan deals at several local condominium developments, including ultra-low interest rates and 5% down payments for buyers who ...
Pay and Display
Learn about the new Multi-Space Parking Meters being installed over the next 8 months
(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 ...
Sept. 21, 2009. Donven Homes has been honored with four Gold Key Awards for their Woodglen community in Lemont. The Home Builder's Association of Greater Chicago (HBAGC) Key Aw...

An environmentalist and financial conservative, Mayur Patel believes that small and green is the new cool in housing. It's like buying a Prius instead of a Hummer.
"Space doesn't necessarily enhance your life," he says. "Isn't it a good idea to leave our planet in better condition for the next ...
Sabrena Parnell bought a spacious four-bedroom home eight years ago on the city's Southwest Side thinking it was perfect for her and her boyfriend. Set on a quiet cul-de-sac with a big yard, back deck and a 2½-car garage, it felt as if they were living in the suburbs.
"One person doesn't need ...
Rob and Katie Shepherd's real estate agent didn't quite believe the well-to-do couple really wanted a humble home, so he tempted them recently with a sprawling 4,500-square-foot house on the river in Naperville.
No sale.
"Our favorite homes have been our smallest, where we use all the space," ...
They have no intention of buying or selling right now, but some Chicago homeowners are consulting with their real estate agents anyway just in case.
These counseling sessions are time-consuming for agents, with no evident payoff, but they say it's all part of building relationships with ...
After decades of watching the size of new homes expand, people are thinking smaller these days.
Rate changes by the Fed can affect consumers' budgets. Here's how the Fed's announcement affects auto loan rates.
Rate changes by the Fed can affect consumers' budgets. Here's how the Fed's announcement affects credit card interest rates.
Rate changes by the Fed can affect consumers' budgets. Here's how the Fed's announcement affects home equity loans and lines of credit.
Rate changes by the Fed can affect consumers' budgets. Here's how the Fed's announcement affects mortgage shoppers and ARM holders.
Sept. 17, 2009. Cost-conscious buyers that want new single-family homes with room to grow into will want to consider crossing the border to Kilbourn Woods in Kenosha, Wisconsin...

Nature Oasis
Experience and enjoy the wonder of nature right here in locations across the city
(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.
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.
I have an article up today -- "Want to refinance? Know the details" -- in which I describe the Home Affordable Refinance program as confusing.
A reader named Cindy asks: "Are mortgage rates predicted to go down next week? What things should I be considering before going ahead?"
In response to my blog post from last week, "Theodicy and mortgages," Michael Hilmen writes about artificially high home prices.
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(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.
(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 ...
(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 ...
(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 ...