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The Chicago Spire may restart construction, thanks to a group of union pension funds that want to put their members back to work and are in discussions to lend Irish developer Shelbourne Development Group $170 million to complete what would become the nation’s tallest building. The Spire’s construction came to a halt when the global […]

President Barack Obama is well aware that private sector investment creates the majority of sustainable jobs, even though it goes against human nature to invest during hard economic times.  Federal stimulus money has saved/created between 600,000 and 1,500,000 jobs, according to the Congressional Budget Office – a faction of the 7,500,000 million jobs lost.  Lest […]

The world’s central banks are easing up slightly on the generosity they have shown over the past year when the financial crisis threatened to destroy the global economy. After European Central Bank president Jean-Claude Trichet said his bank would withdraw some liquidity operations, the euro rose.  Similarly the pound went up after the Bank of […]

The Obama Administration is giving serious thought to the best use of the remaining funds that are part of the Troubled Asset Relief Program (TARP) financial bailout. The President – under pressure to bring down the deficit that has grown as the government seeks to reverse the economic crisis — is considering using a significant […]

The cash-strapped State of Arizona may sell the identical House and Senate buildings where legislative business has been conducted for 50 years. A total of 32 properties within the Capitol complex, valued in excess of $1 billion, may be sold and leased for several years prior to assuming ownership again.  Investors would benefit from long-term […]

Manufacturers are feeling sunnier, according to a new Price Waterhouse Coopers poll. The poll, which queried senior executives at 60 industrial manufacturers between mid-July and mid-October, found that 48 percent sense optimism about the American market compared with last year an improvement over the second quarter.  In light of this cautious optimism, 23 percent expect […]

Home prices nationally are on the rise again, according to a new report issued by the Standard &Poor’s/Case-Shiller Home Price Index. The average sale price rose 3.1 percent during the third quarter of 2009, the same percent increase reported during the second quarter.  On the downside, that statistic is still nine percent lower than the […]

Melrose Park’s legendary Kiddieland amusement park may be history, but the site on the northwest corner of North and First Avenues could become home to a long-rumored Costco store. Washington-based Costco’s Chief Operating Officer and Senior Executive Vice President, Dick DiCerchio, has confirmed rumors about the prime site’s potential use.  According to DiCerchio, “The plans […]

Chicago’s high-profile skyscraper, the 92-story Trump International Tower & Hotel,  is now the world’s sixth tallest building – a step up from its previous status as the seventh.  The reason?  The Chicago-based Council on Tall Buildings and Urban Habitat, the group that sets height standards  for buildings, changed its measurement criteria. The discarded standard required […]

The commercial bond market may be opening up slightly as Bank of America (BofA) prepares to sell $460 million worth of bonds collateralized by properties owned by Fortress Investment Group. The bonds that BofA is arranging are ineligible for TALF, another positive sign that the commercial mortgage market might finally be showing signs of improvement. […]