Real estate news & trends

News from around the Web - 5/22

Lawmakers Want More Flexibility on Mortgage Rules

Mortgage settlement brings relief to 25K in Illinois

Existing Home Inventory is up 17.7% year-to-date on May 20th

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A closer look at an iMove Chicago broker

ARDC Rusty Payton screen cap

iMove Chicago is one of the companies on the dirtiest dozen apartment finders list we’re publishing as part of our Craigslist Apartment Cleanup campaign. A month ago, on December 23, I notified iMove Chicago by email that, in violation of Illinois law, it was advertising a property on Craigslist that specifically banned rental service advertising. ...

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Posted by Joe Zekas on January 24, 2013
ChicagoDowntown / Loop

The washout on Wabash files Chapter 11 bankruptcy

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New West Realty, a once politically-connected developer, extended an almost unbroken string of development debacles with a Chapter 11 bankruptcy filing for a South Loop condo project. According to Crain’s Chicago Real Estate Daily, a venture affiliated with New West and former First Ward Alderman Ted Mazola, recently filed for bankruptcy protection for a 176-unit ...

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Posted by Joe Zekas on December 30, 2011

Add Pasquinelli to the developer deadpool

Heron Bay video, Round Lake, Illinois

Crain’s Chicago Real Estate Daily is reporting that Pasquinelli Homebuilding LLC, one of Chicagoland’s better-known builders, has filed for Chapter 7 bankruptcy liquidation. According to Crain’s, Pasquinelli estimated it “has just over $10 million to $50 million in liabilities and just over $500,000 to $1 million in assets.” After legal fees there’s not likely to ...

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Posted by Joe Zekas on April 8, 2011