Chicago Illinois Real Estate Blog

Eric D. Cohen has listed for sale a three-bedroom, two-bath condo at 635 N. Dearborn St. in Near North for $599,000.
Cohen, along with Mary B. Cohen, paid $485,000 for Unit #1505 in May 2002. There are 126 units in the 28-story building at 635 N. Dearborn St., which is also known as the Caravel. It [...]

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Lawrence M. Kern has listed for sale a two-bedroom, two-bath condo at 1422 N. Mohawk St. in Old Town for $559,000.
Kern and Marsico paid $464,500 for Unit #2 in June 2005. There are four units in the two-story building at 1422 N Mohawk St., which was constructed in 2003.
Mr. Kern is a certified public accountant [...]

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Bruce and Michele Gelman have listed for sale a four-bedroom, 4.5-bath home at 919 N. La Salle St. in Near North for $1.95 million.
The 2,932-square-foot house was built in 1890.
Mr. Gelman serves as a tax partner at Kirkland & Ellis, LLP. His practice focuses on the organizations and structuring of real estate, infrastructure, [...]

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More than 20% of American homeowners owe more on their mortgage debt than they can sell their homes for, according to an industry report released Wednesday.
The real estate Web site Zillow.com reported that 21.8% of all U.S. homes, representing more than 20 million residences, were in a "negative equity" or "underwater" position after prices dropped [...]

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Matthew and Jodi Speiser bought a five-bedroom, 4.5-bath home at 1001 S. Madison Ave. in La Grange from Larry Kelliher and Shawn C. Tokugana for $767,500 on March 18.
Mr. Tokugana bought the property for $310,000 in June 2004. The 3,909-square-foot house, which was built in 2005, is in the Southwest La Grange neighborhood.
Mr. Speiser has [...]

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Steve Poulos’ laid-back nature is sure to be tested this year as he works to find tenants for developments and woo investors for a new fund.
Bridge Development Partners LLC, which Mr. Poulos co-founded nine years ago, has spent the past several years building projects but now is nearly halfway to its goal of amassing $60 [...]

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Simon Property Group Inc. CEO David Simon said Monday that the Indianapolis-based mall giant tried to buy some assets from rival General Growth Properties Inc. before General Growth filed for bankruptcy protection, according to a report by Bloomberg News. “They (General Growth) didn’t realize they were a distressed seller,” Mr. Simon said during a panel [...]

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Real estate auctioneer Sheldon Good & Co. filed for Chapter 11 bankruptcy protection Friday, citing “improper actions” taken by former chairman and CEO Steven Good, who committed suicide in January.
The company said in a statement it is “reorganizing to remedy the effects of improper actions taken by its former chairman. These improprieties, which left the [...]

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A suburban homebuilder’s bid at an urban condo project is apparently ending in foreclosure, as a north suburban bank has sued to collect almost $13.5 million on a 49-unit development in Evanston.
The foreclosure case is believed to be the first filed against a large completed condo project in Evanston, where the once-thriving market has slowed, [...]

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Competition in some rental markets is pushing landlords to offer increasingly creative concessions to tenants, such as free rent for a month or two, and even job-loss protection that guarantees the rent will be paid if tenants lose their jobs.
A new survey by a real estate research company confirms that landlords nationwide are being forced [...]

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