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Hollywood, foreclosures, South Loop Tower in this week's Chicago real estate news

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Maureen Wilkey

Writer on real estate from any angle

Here's a roundup of this week's real estate news

-Suburban firm involved in Hollywood sign real estate controversy Geneva-based Fox River Finanical has slated two home sites which would be built over the 'H.' The firm says they will be far enough above the sign to not affect the view.

-Distressed assets now account for 34% of home sales in Metro Chicago RE/MAX reports that more than 1/3 of homes sold are foreclosures or short sales. More are taking place in the suburbs, and places like Lincoln Park and Winnetka still hve normal levels of foreclosure.

-Developer loses control of South Loop condo Unable to come up with $38 million of his ownfunds to pay for a mezzanin loan, developer Allison Davis is suing Fidelity Investments, according to Crain's.

-Glut of condos creating good deals for buyers Lots of new Chicagoans or first time homebuyers are getting better deals than anticipated, the Tribune reports.

-Couple reports that bankers are getting better at short sales Suburban real estate team says the next three to six months will be critical for getting a good deal on distressed properties, now that lenders and buyers have more experience with them, according to this Daily Herald article.

 

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