Chicago Illinois Real Estate Blog

American Land Lease Inc., a real estate investment trust, said it agreed to be acquired by affiliates of Chicago-based private-equity investment firm Green Courte Partners LLC for $14.20 a share in cash — a 264 percent premium to the stock’s closing price on Tuesday.
The deal, valued at $438 million, including debt and preferred stock, would [...]

[Read more →]

Condominium developer Terrapin Properties faces foreclosure lawsuits on two more investments: a residential development near Rockford and a block of condos its principals own in a River North high-rise.
The suits compound an already difficult situation for Chicago-based Terrapin, which was hit by a foreclosure suit in January over a 162-unit condo project in Kenosha, Wis., [...]

[Read more →]