Global Hyatt changes name to Hyatt Hotels(AP) — Global Hyatt Corp., the privately held hotel and resort company, said Thursday it has changed its name to Hyatt Hotels Corp. The renamed Hyatt Hotels is the parent of companies that own, operate, manage and franchise hotels, resorts and timeshare properties. Based in Chicago and ... In brief: Opus North | Law firm sublease | Burnham plan republishedOpus Group: Local operation 'healthy' as sister firms file for bankruptcy protection Regional Opus Group operating companies in Washington, D.C., and Phoenix are filing for bankruptcy protection, the Minnetonka, Minn.-based parent company announced Tuesday. But Rosemont-based Opus North Corp. and ... Oak Park approves deal for downtown hotel(Crain’s) — A little-known developer has struck an agreement with the village of Oak Park that clears the way for an $85-million hotel and condominium tower to be built in the west suburb’s downtown. The Oak Park Village Board voted earlier this week to approve a redevelopment agreement ... Ventas gets ratings boost, completes property sale(AP) — Fitch Ratings on Wednesday raised the investment-grade ratings of Ventas Inc., citing steps the real estate investment trust has recently taken to shore up its capital position. The credit ratings agency upgraded its issuer default rating for Ventas and its subsidiaries to BBB from BBB-. ... Redemptions, other woes put RREEF on rough roadRREEF, the grand dame of real estate investing, is on shaky ground. One of its flagship funds — the $2.6-billion RREEF America III — might go bankrupt. This month, German department store chain Arcandor A.G. — a RREEF tenant through a sale-leaseback as part of a consortium — went ... Amcore after $12M from developers of New Lenox project(Crain’s) — Amcore Bank has filed to collect a nearly $12-million loan from a husband-and-wife team of developers who were planning a 140-home subdivision in far southwest suburban New Lenox, an area that has been hard hit by the steep decline in new home sales. Rockford-based Amcore alleges ... Kleiner to open bar in planned theater at new Roosevelt Collection(Crain’s) — Chicago restaurateur Jerry Kleiner will run an upscale bar at the 16-screen Kerasotes movie theater that’s set to open later this year in the South Loop. Mr. Kleiner, the creator of Carnivale, Red Light and Gioco restaurants, has been consulting Kerasotes executives on ... Bidding for Sheldon Good & Co. to start at $1.2 million(Crain’s) — A bankruptcy court judge has ordered that Sheldon Good & Co. be put up for auction next month with the bidding starting at $1.2 million, a lofty price for a Chicago firm whose 2009 commissions were less than half that amount through May. The company's founder, Sheldon Good, 76, is ... Condo developer Roszak files for personal bankruptcy(Crain’s) — Evanston condominium developer Thomas Roszak has filed for bankruptcy protection after struggling to pay off his debts during the worst housing market in decades. Known for his projects in Evanston and downtown Chicago, Mr. Roszak said he has assets of $1 million to $10 million ... Lincoln Park hotel heading back to bank(Crain’s) – The court-appointed receiver for Chicago-based Wextrust Capital LLC plans to hand the former Day’s Inn hotel in Lincoln Park back to its lender, Amalgamated Bank of New York. The receiver filed a motion Monday seeking court approval to relinquish Wextrust’s interest in the ... Chicago home prices post record-setting drop in April(Crain’s) — Chicago home prices posted a record drop in April of nearly 19% compared to a year ago, but were unchanged from where they were in March, according to a closely watched housing index. Chicago was one of six cities nationwide that posted record-setting, year-over-year price ... Suburban home of ex-Chicago Bulls star Eddy Curry in foreclosure(AP) - Court records show that former Chicago Bulls star Eddy Curry's suburban Chicago mansion is in foreclosure. Documents show that as of Friday, Curry was more than $217,000 behind on his $3.7 million mortgage. Records show Curry and his wife, Patrice, took the 30-year mortgage out in July ... Closer highlights for June 30Mortgage Becknell Development LLC has taken out a $37 million mortgage with Bank of America on a 34,000-square-foot cold storage building in Schaumburg that the Champaign-based developer recently built for Kraft Foods Inc. Becknell previously had a $13-million loan on the 3.8-acre site at 2361 N. ... Wireless ISP Clearwire opens retail store on N. Michigan Avenue(Crain’s) — A high-speed wireless Internet provider that is planning a costly entry into the Chicago market this year plans to open its first local retail store on North Michigan Avenue between the Chicago River and Millennium Park. Clearwire Corp. has signed a long-term lease for 2,700 ... Park Grill not required to pay property taxes: ruling(Crain’s) — An Illinois Appellate Court ruled Monday that the high-powered owners of the Park Grill restaurant aren’t required to pay property taxes, rebuffing an attempt by the Cook County Assessor to tax the Millennium Park eatery. The decision affirmed an earlier Cook County Circuit ... McKiernan to leave Cushman & Wakefield(Crain’s) — As executive managing director of the Chicago office of Cushman & Wakefield Inc., Michael McKiernan watched several well-known brokers leave the firm this year—now he’s the one departing. Beginning next week, Mr. McKiernan, 54, will be a principal and managing director of the ... Buffalo Wild Wings landing in downtown Evanston shopping center(Crain’s) — A local restaurateur has agreed to open a Buffalo Wild Wings in a downtown Evanston shopping center that already features a Chili’s and an Italian eatery that last year replaced the Wolfgang Puck Café. Buffalo Wild Wings will occupy about 8,000 square feet in Church Street ... In brief: 5 Guys grows | Expensive parking | Harrison St. storage JVBurger chain plans 2nd Lincoln Park site Five Guys Burgers & Fries plans to open a restaurant at the high-profile corner of Clark and Fullerton streets in Lincoln Park, replacing a shuttered Ritz Camera store. Five Guys, known for its wide array of hamburger toppings, plans to occupy 3,389 square ... Our most-viewed stories in the past week(Crain’s) — News of mortgage-fraud indictments that included charges against 10 people in an alleged scheme that allowed them to obtain $17.2 million in loans to buy condominiums in a downtown high-rise was the most-viewed story in the past week at ChicagoRealEstateDaily.com. The top five in ... Glen Town Center developer asks to redo loan(Crain’s) — The owner of the Glen Town Center said Thursday it is in talks with the lender to restructure a $41-million mortgage on the cash-strapped north suburban retail center, which isn’t generating enough rent to cover the monthly payments. “Retailers throughout the country are ... |
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