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Bank of America Accused of Overcharging on Interest

Written by: - November 12, 2009

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12 November 2009 ? Bank of America seems to have its hands on many troubled Chicago real estate developments, including Block 37 and the Chicago Spire. Most recently, the developer of the Spire, Shelbourne Development Group, has accused the bank of using a faulty method for calculating interest on their loans. It is fairly standard […]

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Death and the Gold Coast: Columbarium Suggested for the Exclusive Chicago Neighborhood

Written by: - November 11, 2009

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11 November 2009 ? The Three Arts Building located at 1300 N. Dearborn may be turned into what some are calling the Midwest?s largest columbarium.  Don?t? have a dictionary handy? This columbarium will have enough space to store the ashes of up to 15,000 dearly departed residents. Built in the early 1900?s, and designated a […]

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HUD Neighborhood Stabilization Program Not So Stable

Written by: - March 2, 2009

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HUD Neighborhood Stabilization Program Not So Stable

The City of Chicago Department of Community Development put on an informational meeting last Friday for residential developers to learn more about the city’s strategy to acquire and rehab vacant and foreclosed properties to get them back into productive use. Here is a little background:  In July, Congress approved a new Housing and Urban Development […]

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South Loop Condo Glut Means Lower Prices

Written by: - January 5, 2009

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South Loop Condo Glut Means Lower Prices

Simple supply and demand are having a strong impact in the South Loop. A quick search in MRED for condos in the South Loop (I defined it as Congress to 18th, Dan Ryan to Lake Michigan) shows a huge number of condos on the market. If we look under the new, stricter maximum HUD loan […]

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Apartments Instead Of Condos

Written by: - December 23, 2008

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Apartments Instead Of Condos

Rendering of the Proposed Development Near Halsted and North

The Sun Times is reporting that the proposed retail and housing development slated to go on the land where the New City YMCA used to stand at 1515 N. Halsted is, amazingly, still moving forward. The fact that the development, like so many others like it, has not been shelved is news enough. I found a couple of other bits of the article interesting.

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