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Slow economy brings about apartment bargains for renters
Chicago Sun Times, Ed Sacks, 12/30/01
It may be a happier new year for some Chicago renters. While the country struggles with the burst bubbles of the stock market, wondrous (and expensive) dot-com dreams not fully cooked,...
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THE BIG PICTURE: Industry Absorbs Sept. 11 Fallout
Globe Street, Mark Ruda, 12/24/01
Gone are the days, developer Phil Mappa says, of rapid real estate transactions. However, his particular niche, condominiums in the West Loop submarket, has remained strong enough to allow him to proceed with plans for 101 more units at Madison and Morgan streets,...
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River North facing downside to growth; Crime, nightlife create tensions...
Chicago Tribune, Letitia Stein, 12/4/01
In Chicago's River North neighborhood, pestering crimes are threatening to breach the community's ambitious promise to be a diverse, upscale community harmoniously coexisting with its urban setting....
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Apartment market hits speed bump
Crain's Chicago Business, Patricia Richardson, 11/26/01
Faced with the softest rental market in about a decade, landlords at downtown apartment buildings have resorted to peddling big concessions, ranging from $1,000 Nordstrom gift certificates to two months' free rent, to lure tenants.
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Kinzie Station switches to rental;...
Chicago Tribune, John Handley, Tribune staff reporter, 11/16/01
In a sign that the downtown Chicago housing market is finally weakening after a long boom, a major residential developer has decided to build rental apartments rather than for-sale condominiums. ...
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Downtown housing sales slip; lowest tally since '98 seen:...
Chicago Tribune, THOMAS A CORFMAN, 11/14/01
Sales of new downtown homes are falling behind the rapidly expanding supply of condominiums and townhomes. ...
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Multifamily Rent Concessions Seen Downtown
Globe Street, Mark Ruda, 10/30/01
Concessions are back in the Downtown multifamily rental market, reports one expert. In fact, Appraisal Research Counselors vice president John R. Jaeger says concessions began cropping up in the second quarter of this year....
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Windy City Wounded by Weakened Economy
Barron's, Joe Gose, 10/29/01
At about this time last year, Chicago's downtown real-estate market reveled in the spoils of the long economic juggernaut and flow of capital back into central business districts. ...
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Mixed Bill of Health for Downtown Condo Market
Globe Street, Mark Ruda, 10/29/01
Despite lingering questions about a potential glut of condominium product that began cropping up before Sept. 11, the Downtown market should continue to be strong through 2004, according to two experts. ...
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Barron's: The Ground Floor: Windy City Wounded by Weakened Economy
Barron's, Joe Gose, 10/27/01
At about this time last year, Chicago's downtown real-estate market reveled in the spoils of the long economic juggernaut and flow of capital back into central business districts.
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Price points just a matter of preference:...
Chicago Tribune, Genevieve Buck, 10/20/01
Is it fair to compare prices of new homes in the heart of the city and in the sylvan suburbs? ...
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A good time to deal?
Real Estate Chicago, Jeffrey Steele, 10/1/01
Nobody has to convince the average American that there's an economic downturn. The proof hits them at the newstand - if not in the pocketbook -- every day. ...
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Regaining its swagger?
National Real Estate Investor, H. Lee Murphy, 10/1/01
At the crossroads of the nation, Chicago has been suffering something of an identity crisis lately. The city that for decades has prided itself on being the biggest and best - it had the world's tallest building, busiest airport and largest airline...
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Low vacancy in luxury downtown housing is good news
Midwest Real Estate News, Contributing Writer, 9/10/01
Where will Boeing's 500 new executives live if they choose downtown Chicago? To take advantage of the best options, they should get out their checkbooks soon. ...
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Low vacancy in luxury downtown housing is good news
Illinois Real Estate Journal, Contributing Writer, 9/10/01
Where will Boeing's 500 new executives live if they choose downtown Chicago? To take advantage of the best options, they should get out their checkbooks soon. ...
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Prices for downtown condos hitting a plateau
Crain's Chicago Business, Steve Daniels, 9/1/01
After huge increases in 2000, prices of downtown condominiums have begun to level off this year. In the first quarter of 2001, the average price of a downtown unit increased 3%,...
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Condo cloud looms
Crain's Chicago Business, Steve Daniels, 8/13/01
A wave of new condominiums is poised to wash over downtown Chicago in numbers that will test the staying power of the market's long boom....
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Condo cloud looms as units boom
Crain's Chicago Business, Steve Daniels, 8/12/01
A wave of new condominiums is poised to wash over downtown Chicago in numbers that will test the staying power of the market's long boom. ...
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Fifield, joint venture compete for city lot on West Madison:...
Chicago Tribune, Thomas A Corfman, 8/8/01
Developer Steven Fifield is one of two bidders vying to acquire a nearly 2-acre site on the edge of the West Loop that the City of Chicago has put up for sale. ...
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CITY MARKET SAGS But not to worry:...
Chicago Sun Times, Larry Finley, 6/8/01
Sales of new condominiums in Chicago have dropped by more than 5 percent this year. But industry experts aren't really complaining because it's a matter of not enough supply to meet the demand. ...
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Multifamily flexes its muscles
Midwest Real Estate News, 6/1/01
While there's been some softening in new construction during 2001, apartments have proven themselves able to absorb blows better than other commercial asset classes because of their stability and desirability ground to single-family housing,...
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Mississippi REIT buys 233 N. Michigan in Illinois Center:...
Chicago Tribune, Thomas Corfman, 5/30/01
Parkway Properties Inc., a Mississippi-based real estate investment trust, has signed a contract to make its first Chicago-area acquisition, buying 233 N. Michigan, one of the buildings in the Illinois Center complex. ...
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Downtown rents start to soften Tenant concessions make a comeback:...
Chicago Tribune, Thomas A Corfman, 5/26/01
After eight years of steadily rising rents and occupancy rates, the downtown Chicago apartment market is starting to slip and landlords are reacting swiftly. ...
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Condo sales slowing But nationwide, housing market rose in March
Chicago Sun Times, DAVID ROEDER, 4/26/01
Powered by lower mortgage rates, home sales across the country rose substantially in March amid signs that the Chicago area's hottest residential market-downtown-has just started to cool. ...
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Condo tower planned at Grand and Wells High-rise is...
Chicago Sun Times, David Roeder and Fran Spielman, 4/9/01
Exhibiting faith in continued growth of the downtown residential market, a developer is pushing to start a 28-story condominium high-rise in River North,...
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Mortgage Lenders and the Institutionalization and Normalization...
Appraisal Journal, Richard J. Roddewig, MAI and Allen C. Keiter, MAI, 4/1/01
Real Estate Markets, Uncertainty, Environmental Risk, and the Real Estate Appraiser. Buyers and sellers of real estate, whether a personal residence, an income-producing investment, or a property used in a trade or business, understand intuitively that owning real estate involves accepting risks....
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Renters escape the heat...
Chicago Sun Times, Larry Finley, 3/30/01
Renters may have beat the heat put on local apartment landlords by skyrocketing energy costs. Dwindling natural gas supplies this winter pushed up some heating bills by double,...
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Energy price hikes ignite higher rents
Crain's Chicago Business, Steve Daniels, 3/5/01
Skyrocketing energy costs this winter are socking apartment landlords, who in turn will be passing much of their increased costs to tenants as leases expire this year. ...
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5 STUDLEY BROKERS JOIN STAUBACH CO.:...
Chicago Tribune, Thomas A Corfman, 2/28/01
Five suburban brokers from the Chicago office of Julien J. Studley Inc. have joined rival tenant representative Staubach Co., one of the largest groups to change commercial real estate firms in recent years. ...
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Appraiser's job grows in complexity
Midwest Real Estate News, 2/1/01
Appraisers are sifting through more information and facing higher demands from a heated real estate investment market, according to Gene Stunard, president of Chicago-based Appraisal Research Counselors. ...
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Beitler Eyes 50-Story Building on N. Clark St. 800 Parking Spaces...
Chicago Tribune, Thomas A Corfman, 1/23/01
In another sign the downtown office building boom just won't quit, developer Paul Beitler is laying the groundwork for 50-story office building in Chicago's emerging theater district.
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