Closer highlights for Feb. 7
(Crain's) — The senior lender on an unfinished retail project in Glenview paid $2.5 million last month to buy out a junior lender's interest in the property.
Aurora shopping center sells for one-third below 2005 price
(Crain's) — GK Development Inc. has paid $20.5 million for the 362,000-square-foot Yorkshire Plaza in the west suburb, 31 percent less than the property sold for more than six years ago.
Oak Brook five-bedroom sells for less than 2009 price
(Crain's) — Also, a Kraft Food executive takes a loss on his Lake Forest sale. And a CVS exec gets $860,000 for a West Lakeview home.
Homeownership rates tumble along with the market
(Crain's) — With local home prices falling to levels seen near the turn of the century, homeownership is now at about the same place, too.
Davis fund was losing money, lawsuit says
(Crain’s) — A real estate fund formed by Allison Davis has performed poorly, one reason five city pension plans fired a firm led by the Chicago investor as manager of the fund last week,…
Convicted Blagojevich donor Ata sued by former development partner
(Crain's) — Awaiting sentencing in the federal probe of Gov. Blagojevich, Ali Ata faces a new legal problem: a lawsuit from a former real estate partner who alleges Mr. Ata cut him out of $4.1…
Downtown hotels' occupancy, room rates continue rebound
(Crain's) — Life is getting better for downtown hoteliers, but it's still not as good as it was four years ago.
Updated 12:09 p.m.
City pension plans fire politically connected real estate fund manager
(Crain's) — Move prompts lawsuit almost three years after a Daley nephew quits firm amid controversy.
In brief
Hyatt to run 3 hotels in Saudi Arabia
(Crain's) — Also, the sale of the Echelon at K Station apartments closes and a mixed-use building in the West Loop sold for $2.65 million.
New firm has money to back net-lease projects
(Crain's) — Ralph Cram is heading Northbrook-based Envoy Net Lease Partners, which has financial backing and plans to finance about $80 million in developments in the next year and a half.
