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6/1/2020 Park Lafayette developer facing prison time over Chicago condo project—Milwaukee Business Journal

Warren Barr, developer who lost the Park Lafayette apartment towers in Milwaukee through a 2009 bankruptcy, has since been indicted by federal officials over a project in Chicago, spent six months in a Saudi Arabian prison after pursuing work there, and now faces possible incarceration in the U.S.
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5/29/2020 Developer That Wanted To Double West Loop Condo Project’s Height Changes Plan Again—Block Club Chicago

A developer who wanted to double the size of a condo building planned for the West Loop is revising his plan again — and this time, it’s shorter.
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5/28/2020 Developer Wants To Demolish Workers Cottages To Build Condos, But Neighbors Worry It Will Disrupt Rooftop ‘Community’—Block Club Chicago

While some neighbors support a proposed six-unit condo building on a quiet West Town block, others worry the project would make it harder to park in the neighborhood and would disrupt the block’s rooftop community.
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5/28/2020 Chicago Is About to Have a Lot More Balconies—Chicago Magazine

Since the March lockdown, Chicago’s balconies have taken on a whole new meaning. Think of the joyous YouTube videos of South Loop high-rise dwellers belting out Bon Jovi from their balconies, or cheering for medical workers during nightly “Chicago Unite At Night” celebrations.
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5/28/2020 Downtown dwellers disagree on value of high-rise life—Loop North News

Some high-rise dwellers apparently are quite happy with the shelter at home lifestyle.
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5/28/2020 Kiser Group brings 70-unit LaSalle Towers to market as condo deconversion—RE Journals

LaSalle Towers, located at 1211 N. LaSalle Drive in Chicago, has been listed for sale exclusively by Chicago-based multifamily brokerage firm Kiser Group. The 70-unit, 19-story building was built in 1929 as a hotel, later converted to apartments, and in 2006 was converted to condominiums.
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5/28/2020 CBRE completes $13.3M sale of 90-unit condo deconversion in Chicago—RE Journals

CBRE has completed the condo deconversion sale of Shore Manor, a 90-unit condo property at 5858 N. Sheridan in Chicago. Becovic Management Group, LLC, a Chicago owner operator who is currently heavily invested in the neighborhood, picked up the Edgewater asset for $13.3 million.
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5/21/2020 Closed, but on duty: Cook County Recorder now processing all docs—Chicago Agent Magazine

Earlier this month, Chicago Agent reported that the Cook County Recorder of Deeds’ office was unable to record condominium declarations as long as their office remained closed. This was causing closing hang ups because lenders generally won’t OK mortgages if this essential paperwork hasn’t been signed off on by the local recorder’s office.
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5/21/2020 ‘Under the cover of night’ elite Francis W. Parker School bought condos in covert bid to expand, Lincoln Park neighbors allege in lawsuit—Chicago Tribune

A Lincoln Park condominium association is suing the elite Francis W. Parker School, alleging it and others engaged in a “covert scheme” to acquire the building and use the property to expand the school’s campus.
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5/21/2020 Aldermen clear Tribune Tower East, slated to be the city's second-tallest—Crain's Chicago Business

The City Council today cleared construction of one of the city’s tallest planned developments, one part of the redevelopment of Tribune Tower.
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5/21/2020 American Street Capital arranges $5.15 million for multifamily property in Chicago—RE Journals

American Street Capital (ASC) has arranged $5.15 million for the refinancing of an 18-unit multifamily property in Chicago. The loan was originated by Igor Zhizhin, the president of ASC.
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5/19/2020 Ethos Specialty launches U.S. real estate liability program—Reinsurance News

Ethos Specialty has announced the launch of a new commercial general liability program for U.S. real estate owners and managers.
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5/15/2020 This Chicago architect is on a list of the world’s edgiest—Crain's Chicago Business

A Chicago architecture firm known for its handsome contemporary residential designs is among the world’s ten edgiest firms, according to an annual list published by an eminent architecture magazine.
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5/14/2020 Coronavirus in Illinois updates: Here’s what’s happening Wednesday with COVID-19 in the Chicago area—MSN News

Gov. J.B. Pritzker on Tuesday urged state lawmakers to “act expeditiously” on a relief package for families, small businesses and communities across the state, but stopped short of using his power to call them back to Springfield for a special session.
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5/13/2020 Old Town home with Carrara marble bathroom: $950K—Chicago Tribune

This 2,300-square-foot Old Town home has four bedrooms and three bathrooms. The condo was renovated in 2016 and features a private entrance and multiple outdoor spaces, including a roof deck and a landscaped private patio.
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5/7/2020 World War II veteran, retired CPD officer Russell Ditusa dies from coronavirus at 97—ABC7 Eyewitness News

Russell Ditusa, a World War II veteran and long-time Chicago police officer, died from COVID-19 at the age of 97, his family said.
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5/6/2020 Week 8: Covid-19 Still Screwing Up The Chicago Real Estate Market—Chicago Now

I hope to post my monthly update tomorrow but I think it's still worth continuing to look at the weekly data for a while longer to see how fast the Chicago real estate market is changing in response to the Covid-19 pandemic. It certainly fell off a cliff fast when all hell broke loose in mid-March so it's always possible that things could improve pretty quickly.
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5/6/2020 The Hidden Side Of A Chicago Power Couple—CBS News Chicago

After a months-long CBS 2 Investigation into Candace Clark – accused, among other things, of living in upscale places without paying rent – we got a tip about a high-rolling power couple also living in upscale condos without paying rent.
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5/5/2020 Get Ready for a Tsunami of Pandemic Lawsuits Over Broken Deals—Bloomberg

An oldie but goodie: The year is 2005. A developer with a checkered past persuades Deutsche Bank AG to lend him $640 million to build a luxury hotel and condo high-rise in Chicago. To help ensure that it gets its money back, the bank insists the developer personally guarantee $40 million of the loan. The developer’s name? Donald J. Trump, of course.
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5/5/2020 Construction permit approved for boutique West Loop condo project, 1400 Monroe—RE Journals

The city of Chicago has greenlighted JK Equities’ 42-unit, seven-story boutique condominium building, 1400 Monroe. The property, located in Chicago’s West Loop, is expected to be delivered by summer 2021.
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