The Tribune is reporting that Dempsey Travis, one of Chicago's most accomplished real estate developers, died in his home today.

In the video above Dempsey Travis reminisces about his childhood and his mother, and talks about some of his philanthropic efforts. Many people today are saying about Travis what he said in this video about his close friend Mayor Harold Washington – "sincerely a good man, a legitimate, good man."

See more of our extended interview with Dempsey Travis, including a visit to his home, at our South Triangle playlist at YouTube.

Looking to buy a West Loop condo this month? Willing to spend a Saturday afternoon at an information seminar about government-backed mortgages? If so, you might be able to swing a purchase of a home at Emerald, 123 S Green St, without paying a cent in closing costs.

Emerald's developers will cover the closing costs for anyone who buys a condo within 48 hours after attending an on-site seminar on July 18. The session, which starts at noon, will focus on Federal Housing Authority and Veterans Administration-backed loans and give buyers an opportunity to receive pre-qualification from Lincoln Mortgage and Funding Corp, Emerald's FHA-approved lender.

Emerald received FHA backing in May, and is one of four West Loop developments approved for government-insured mortgages, according to a media release from Senco Properties. More than 60 percent of the twin-tower project's 212 homes are sold and occupied by approximately 160 residents.

The media release doesn't offer an estimate, range or average for buyers' closing costs, but I should hear back from developers sometime soon and will pass along whatever information I receive.

According to a recent price sheet, Emerald's one-bedroom / one-bath units, which range in size from 765 to 900 square feet, are currently priced from the $270s to $380s, with monthly assessments of $225 to $265. Two-bedroom / two-baths with 1,250 to 1,297 square feet are priced from the $390s to $620s, with average monthly assessments of $345.

For more information about Emerald's FHA/VA seminar, call Daniel Delaney at 773-328-7636.

UPDATE: According to sales manager Joe Dupor, closing costs at Emerald tend to be 1 to 3 percent of a home's purchase price, meaning developers could pay approximately $2,700 to $8,100 in closing costs for the least expensive one-bedroom to $6,200 to $18,600 for the most expensive two-bedroom.

Related posts:
• Sales update: Property Consultants helping investors rent out Emerald condos (June 16)

Aqua's 70,000 square-foot Shore Club terrace is one of the largest — possibly the largest — residential recreation deck in Chicago. On the deck alone, condo owners and apartment tenants will have access to two pools, a hot tub, a one-fifth mile running track, grilling stations, linen-lined gazebos, and dozens of seats and tables for lounging.

On Monday, Loewenberg Architects project manager Todd Wendell guided me through Aqua's two amenity floors, starting with the terrace.

Buzz Ruttenberg, the developer of 600 Lake Shore Drive, is better known in some circles as a lover of art and a patron of artists. Join Buzz for a brief look at how he's sharing his passion for art with 600 Lake Shore Drive's residents.

We often run across new listings or price changes on smaller developments outside of the downtown area that might not warrant a big post, but might interest our readers nonetheless. Here are just a handful we've seen recently:

1919 West Crystal in Wicker Park
Five of the nine condos in this new Studio Dwell-designed building at 1919 W Crystal St in Wicker Park (shown above) were placed back on the MLS last week. Three two-bedroom / two-baths with 1,633 to 1,725 square feet are now priced in the $560s to $570s, and two three-bedroom / two-baths with 2,125 square feet are listed in the $660s.

Prices in April had ranged from the $590s to the $730s.

The units have floor-to-ceiling windows with ceiling heights up to 20 feet; custom staircases with floating oak risers; white oak hardwood floors; kitchens with SubZero and Miele appliances, Caesarstone and granite countertops, and Arclinea cabinets; baths with limestone and marble finishes, and Hansgrohe, Duravit, and Toto fixtures; private outdoor terraces; and surround-sound wiring.

Sam Tarara of Koenig & Strey GMAC Real Estate has the listings.

2523 North Southport in Lincoln Park
Rich Kasper of Conlon Real Estate just listed all of the condos in this new six-flat (at right and below) at 2523 N Southport Ave in the Wrightwood Neighbors area of Lincoln Park.

The building’s two duplex-downs have three bedrooms and 2.5 baths and are both listed in the $770s. Two second-floor two-bedroom / two-baths are listed in the $470s, and two “penthouse” two-bedroom / two-baths with rooftop decks are priced in the $570s. When Jeremy toured the building in mid-June, the two-bedroom units ranged from the $490s to $590s.

Finishes include hardwood floors throughout; kitchens with Viking appliance packages; baths with steam showers, rain showers, and body sprays; and garage parking.

Luxhaven in Lake View
Another of Kasper's properties, Trianon Development's eight-unit Luxhaven (seen immediately below and at bottom) at 1740 W Cornelia Ave in Lake View, has six homes on the MLS, including four that have seen modest price reductions ($10,000 to $30,000) in recent days.

Available homes include two one-bedroom / one-baths priced in the $310s and $320s, two two-bedroom / two-baths priced in the $440s and $470s, and three three-bedroom / two-baths, two of which have rooftop access, priced from the $540s to $670s.

In April, when Mark Boyer toured Luxhaven with developer Jody Libman, prices ranged from the $330s to the $720s.

Features include island kitchens with 3-inch concrete countertops and 42-inch flat-panel cabinets; baths with natural stone floors and steam showers; and private balconies and terraces. Garage parking is included.

To round out my open house tours this weekend I headed up north to check out Phase I of EcoNorth, a 16-unit development at 1842 W Irving Park Rd in North Center. One of the area's few green developments, EcoNorth features ENERGY STAR-rated appliances, bamboo floors, dual-flush toilets, and a green roof (which you'll see isn't quite "green" yet). It's also right next to the Irving Park Brown Line stop.

Baird & Warner agent Mary Jaeger told me all of of the homes are corner units, and each has two bedrooms, 2.5 baths, and span 1,250 to 1,335 square feet. Prices range from the $390s to the $450s.

As you'll see from the video, not much progress has been made yet on the rest of the three-phase development, which is supposed to comprise 48 homes when finished.

Related posts:
• A first look at EcoNorth's furnished model (March 27)
• Concept vs. execution: Phase 1 of EcoNorth (Dec. 5)

When we spoke with Weichert Realtors First Chicago's Ron Ruby back in March, he said it was quite likely that Sutherland Pearsall Development would trim more prices at its 550 St Clair high-rise at 550 St Clair St in Streeterville. In December the developer slashed its one-, two-, and three-bedroom units as much as 30 percent, but left its penthouses alone.

Until now, that is. Since penthouse sales have been sluggish - eight of the original 12 are still on the market - Sutherland Pearsall and First Chicago are dropping prices from the original $2 to $1.4 million range down to $1.533 and $1.078 million.

Ruby says the building is 82 percent sold and has a couple studios, two one-bedrooms, four two-bedrooms and a handful of three-bedroom / three-bath units left. Prices for the studio "lofts" start in the $210s; the one- and two-bedrooms are priced from the $340s to the $520s; and the three-bedrooms are priced from the $730s to $880s. Garage parking is $50,000 per space.

The developer is willing to do some negotiating off the reduced prices, and that they're also trying to find some lenders to get better rates and terms for jumbo loans to accompany the higher-end units, Ruby says.

"We lost a deal recently where people could only put 10 percent down and they couldn't get a jumbo loan," he said. "So we're trying to find some lenders that will work with us on that a little bit."

With just 50 percent of its units sold — despite construction having begun on the development in January 2007 — The Clarovista at 6238 N Broadway St in Edgewater has cut prices on some of its units by as much as 50 percent. The price cuts, which were announced last Friday, will stay in place for the next 40 units sold, says Jameson Real Estate agent Brant Booker.

One-bedroom / one-baths, which originally started in the $200s, now start in the $100s. Two-bedrooms with one to two baths are down from the $300s to the $150s, and three-bedroom / two-baths are down from the $350s to the $270s.

The development is also offering below-market interest rates through National City Mortgage. Lending options include 1.5 percent off interest rates for loans up to $417,000, and a 0.625 percent discount off rates for loans up to $650,000.

The 160-unit development, formerly called "The Granville," begin deliveries in October of last year.

Related posts:
• A few views of The Clarovista's model units (Jan. 29)
• Construction update: The Granville (Sept. 9)

Who would have guessed that Vetro, a 31-story, 232-unit tower at 611 S Wells St, would be one of the most talked-about towers of 2009? Due largely to a much-publicized condo auction in March, Vetro has become the symbol of the South Loop's burst bubble. In more than one instance, the auction and the price cuts that followed convinced other condo developers to follow suit with reductions of their own. Even now, almost four months after the auction, sales managers in the South Loop, West Loop, and River North still reference "the Vetro effect" in conversation.

Vetro's price cuts may have been a boon for buyers, but they must have been a hard pill for developer / architect Thomas Roszak to swallow. According to Crain's, seven of Roszak's companies, including Roszak / ADC, have filed for Chapter 7 bankruptcy, a route that most likely will lead to liquidation instead of reorganization. Roszak has assets of $1 million to $10 million and liabilities of $50 million to $100 million, according to the article.

Although the filings do not include the LLC formed to develop Vetro, documents suggest a bankruptcy petition for that company is imminent.

While he's not the first Chicago-area developer to file for bankruptcy in the past two years, "Roszak is likely the first developer with a big downtown project to file for personal bankruptcy in the current downturn," the article states.

Baird & Warner, Vetro's exclusive broker, currently has two two-bedroom / 2.5-baths with 1,343 to 1,924 square feet, listed from the $370s to $570s, and one 2,000 square-foot, three-bedroom / three-bath penthouse listed in the $580s.

Two resales are also listed: a 1,343 square-foot two-bedroom priced in the $460s, and a 2,079 square-foot one-bedroom priced in the $840s.

"They don't think there's anything they can do to help themselves. They're embarrassed. They think they have to dish out thousands of dollars for an attorney, and they can't do that, so they just walk away."

- Luz Ruiz-Echandy, a Harris Bank employee who tutors consumers on their finances, telling the Southtown Star how many Cook County residents who face foreclosure feel they have no options to fight it. However, the county, facing a growing number of foreclosure cases, is giving borrowers a chance to negotiate with their lender's attorney or representative to try to rework their loan terms. Homeowners don't need a lawyer in a foreclosure case. There is an appearance fee of $188, but defendants can seek a financial hardship waiver.

According to Action Now, a Chicago-based nonprofit group, of the 25,561 of last year's 27,653 foreclosure judgments in Cook County were by default, meaning the borrower never showed up in court.