Articles About Residential

It seems that we just can’t escape the bad financial news.  Now, mortgage loans made to supposedly better-off Americans are also heading south at an alarming rate.  This time around, the loans in question are Alternative-A (Alt-A) mortgages,which are used by borrowers such as the self-employed who have reasonable credit standings but unpredictable incomes. Right […]

A rather unexpected source may rescue the stalled Chicago Spire  condominium project – and pump significant money into Chicago’s battered economy by creating thousands of construction jobs.  Representatives from the AFL-CIO Housing Investment Trusts are in early discussions with developer Shelbourne Development Group to revive construction of the twisting Santiago Calatrava-designed condominium tower, located on […]

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 […]

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 […]

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 […]

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 […]

The residential mortgage market is experiencing an unexpected – but welcome — boom, a result of interest rates for 30-year fixed-rate loans falling to 5.47 percent from 5.99 percent.  According to the Mortgage Bankers Association’s (MBA) weekly review, the average rate for a 15-year fixed-rate loan – popular when refinancing – fell to 5.13 percent […]

Housing prices in the United States plunged a record 16.3 percent during July, compared with the previous year.  According to Standard & Poor’s/Case-Shiller Home Price Indexes, this indicates an ongoing home-price decline now in its second year. The S&P/Case-Shiller composite index of 20 metropolitan areas declined 0.9 percent in July, when compared with June.  That […]

A sign of the times from GlobeSt.Com:  Construction of the high-profile Santiago Calatrava-designed and engineered Chicago Spire condominium tower has been postponed – a victim of the ongoing economic slowdown.  The building is still in its infrastructure-construction phase, with the neighborhood’s utilities undergoing updates to support the structure and its residents.  With work at a […]

The 2nd quarter of 2008 ended with a slight economic rebound – an extremely lethargic one – that raises new fears of a recession.  The Commerce Department reported that the GDP increased at an annual rate of just 1.9 percent from April through June.  Although an improvement over the feeble 0.9 percent reported during the […]