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Loan modifications, Sam Zell, Kirk Hinrich in this week's real estate news

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Maureen Wilkey

Writer on real estate from any angle

Here's a round-up of this week's Cicago real estate news.

1. About 20 percent more of Illinois homeowners are taking advantage of the government's home affordable modification program Some are temporary and some are permanent. Some may not make it still if they don't make the payments. But the average home loan modifier paid $500 less for their home last month.

2. Kirk Hinrich sold his Deerfield home for $730,000 This SFgate.com article says he paid over $900k for it and it was once listed for $949k. He now lives in Bannnockburn, in a 9,270 square foot mansion.

3. Sam Zell says the worst is over in the housing market In this CNBC article, he reports that international real estate he owns in Brazil is doing well, and that the thinks the housing market was overextended with many fraudulent loans.

4.Chicagoland mansions photo gallery posted: the Huffington Post allows you to browse through homes between $10 million and $28million in Chicago and its suburbs.

5. Home foreclosures up 32% this year in Chicago This Crain's article reports that 1 in 40 homes in Chicago is now in foreclosure, making it the 9th worst market for foreclosures

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1 Comment

DunneGoode said:

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Sam Zell deserves inoperable pancreatic cancer.

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