Chicago Illinois Real Estate Blog

Strategic Hotels & Resorts Inc. (BEE) agreed to acquire the 49% interest it doesn’t already own in the InterContinental Chicago from Singapore’s sovereign-wealth fund in a deal that values the hotel at $288.3 million.
Government of Singapore Investment Corp., known as GIC, will receive about 10.8 million Strategic Hotels shares at an issuance price of $6.50 [...]

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Rahm Emanuel so far has done a decent job of mingling jubilation with humility over becoming mayor of Chicago.
Maybe the size of the task before him has kept his ego in check. Maybe it’s the knowledge that a bench-load of rivals waits for him to make hard decisions and deplete his political capital so they [...]

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It was all sweetness and smiles in Chicago on Monday as the famously hotheaded Rahm Emanuel shed his former White House persona and became the Windy City’s first new mayor in 22 years.
Out of the frying pan of national politics, and now, into an entirely new fire, the former Obama administration chief of staff’s voiced [...]

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The W Chicago - City Center was sold to Chesapeake Lodging Trust for $128.8 million yesterday by Starwood Hotels & Resorts Worldwide, though the hotel chain will continue managing the property as a W Hotel, after signing a 40-year contract. The 368-room hotel includes more than 12,000 square feet of meeting space, a fitness center [...]

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With another week and a half until the Illinois Association of Realtors announces April home sales for Chicago I’m here to tell you that they’re going to be down around 28% from last year. Actually, my preliminary numbers indicate they will be down 27.9%. But that was totally expected since last year’s numbers were artificially [...]

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Gary Jungels and Veronika Jungels sold a four-bedroom, four-bath home at 22662 Hunters Trail in Frankfort to Frank Casamento and Angela Casamento for $485,000 on April 11.
The property is in the area South of Lincoln Hwy.. It is part of the Timbers Edge subdivision.
Mr. Jungels, a transactional attorney, is a partner in the corporate and [...]

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Picking up the pieces of the shattered real estate industry is accelerating in the Chicago area.
Survivors of the drastic downturn have devised new ways to sell the massive inventory of foreclosures and unsold new homes in the city and suburbs.
Call them workout kings, because they are striving to work out the backlog of failed real [...]

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At best, Chicago-area home prices are bouncing along the bottom or getting less bad as the depreciation rate slows. At worst, they continue in a free fall.
A year of home price changes in some 200 local ZIP codes, provided to the Tribune by housing industry data provider CoreLogic, shows inklings of real appreciation taking hold [...]

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A law firm partner has purchased a home in the central part of Lake Forest.
Carol V. Gilden bought the six-bedroom, 3.5-bath home at 55 Barn Swallow Lane in Lake Forest from Narendra P. Mulani and Nita N. Mulani for $805,000 on Jan. 26. The 3,502-square-foot house was built in 1986.
Gilden serves as a partner at [...]

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Michael J. Shim and Nian C. Liu Shim bought a three-bedroom, 2.5-bath at 250 Stanton Court E. in Buffalo Grove from Kobe Falco and Stephanie Falco for $385,000 on Jan. 14.
The Falcos paid $460,000 for the property in June 2008. The 2,092-square-foot home in Buffalo Grove Central was built in 1988. It is located in [...]

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