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Author:
Matt Ward
Posted:
04.14.2009

Chicago Pours a Tall One to Secure MillerCoors Deal

To sweeten the pot after luring brewing giant MillerCoors LLC to the Windy City, the City of Chicago has agreed to create a $6 million tax-increment financing deal for the firm’s new corporate headquarters at 250 South Wacker Drive.  Even with a budget shortfall nudging $500 million, the City is kicking in significant funds to bring […]

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Author:
Margaret Blum
Posted:
04.07.2009

Cornerstone Packs a Powerful Economic Punch

Cornerstone’s  impact on Grayslake and Lake County goes far beyond the jobs, residences, shopping and entertainment opportunities it creates.  We specifically designed the project to create positive financial benefits for the schools that will serve the 650-acre mixed-use community. Cornerstone will benefit local school districts’ financial health at a time when the tax revenues that […]

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Author:
Steve Park
Posted:
04.02.2009

Cornerstone Gets the Green Light

Cornerstone’s launch fulfills William A. Alter’s 30-year vision that began when the legendary real estate titan acquired the first of what now comprises 650 acres in central Lake County. As a mixed-use development pioneer, Bill Alter understood that differing residential products could- and would — flourish, complete with nearby stores.  Cornerstone is taking Bill’s vision […]

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Author:
James I. Clark III
Posted:
03.31.2009

Happy 212th Birthday, Nykredit Realkredit!

The CMBS market is anything but rotten in the state of Denmark. While the American mortgage securitization system crumbles, the Danes are successfully securitizing commercial and residential loans exactly as they have since 1797.  That’s when Nykredit Realkredit – Denmark’s largest mortgage bank – was established.  And, there hasn’t been a single Danish mortgage bond […]

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Author:
James I. Clark III
Posted:
03.18.2009

Sold!

The successful auction of 45 condominiums at the Vetro project in the South Loop raked in sales of more than $12.1 million – though sharply discounted at $258 PSF.  That’s 73 percent of the original $353 PSF asking price, but far better than the 61 percent the auctioneers expected. This isn’t the first time that […]

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Author:
Matt Ward
Posted:
03.17.2009

Whatcha Talkin ‘Bout? Willis?

One of Chicago’s most visited real estate icons — and the Western Hemisphere’s tallest building — is getting a new name.  And Chicagoans are not thrilled. Under the terms of a significant lease signed by global insurance broker Willis Group Holdings, Ltd., the 110-story, 1,450-foot-tall Sears Tower will change its name to the Willis Tower. […]

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Author:
Matt Ward
Posted:
03.12.2009

Big Deals Keep on Movin’

Contrary to popular perceptions, significant CBD office leases are still being signed, recession or no recession. A case in point is KPMG LLP’s recent inking of a 15-year lease for 260,000 SF in the Aon Center at 200 East Randolph Street in the prized East Loop market.  The accounting and advisory firm will relocate its […]

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Author:
James I. Clark III
Posted:
03.05.2009

Deep Freeze of an Unregulated Economy

Iceland’s economic collapse, the result of a reckless government and a lack of financial regulation, is an object lesson to Americans who fear increased — but necessary – markets oversight. Icelandic debt is 10 times the country’s GDP!  In the United States, our debt would have to be close to $100 trillion to put us […]

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Author:
Kurt Rosene
Posted:
03.02.2009

Obama’s Housing Plan Seeks to Help Homeowners in Trouble

Nine million homeowners can breathe a preliminary sigh of relief.  They may get to keep their homes now that President Obama has unveiled his ambitious – and larger than expected — $75 billion mortgage relief plan.  At the same time, the Treasury Department will double the size of its support of Fannie Mae and Freddie […]

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Author:
Sam Gould
Posted:
02.27.2009

When Your Business Is Hurting, Give It Away for Free

Denny’s, the one-time king of value restaurants, recently tried to regain some of its lost glory by offering a free Grand Slam breakfast to everyone who showed up during limited morning/early afternoon hours.  The $5.99 Grand Slam breakfast includes two eggs, two bacon strips, two sausages and two pancakes. More than 2,000,000 people took advantage […]

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