Articles About Residential

You can be President Barack Obama’s Chicago next-door neighbor for just $1.85 million. That’s the listing price for the 17-room 1906-vintage brick house at 5040 South Greenwood Avenue owned by Bill and Jacky Grimshaw since 1973. The house had been on the market for an unspecified sum since September, but a price had to be […]

Cornerstone’s launch fulfills William A. Alter’s 30-year vision that began when the legendary real estate titan acquired the first of what now comprises 650 acres in central Lake County. As a mixed-use development pioneer, Bill Alter understood that differing residential products could- and would — flourish, complete with nearby stores.  Cornerstone is taking Bill’s vision […]

The residential mortgage market is experiencing an unexpected – but welcome — boom, a result of interest rates for 30-year fixed-rate loans falling to 5.47 percent from 5.99 percent.  According to the Mortgage Bankers Association’s (MBA) weekly review, the average rate for a 15-year fixed-rate loan – popular when refinancing – fell to 5.13 percent […]

Bill Alter, founder of The Alter Group, passed away peacefully Friday, August 8, in his Winnetka, IL, home of complications from Alzheimer’s at age 78.  Named one of the most influential people of the 20th century by National Real Estate Investor magazine, Alter presided over the development of more than $1 billion of space over […]

The surge in the construction-loan delinquency rate – both residential and commercial – suggests that lenders will remain reluctant to make loans for new construction. Developers usually finance projects through short-term construction loans.  Once the project has stabilized, the developer seeks long-term debt.  With the current economic downturn, developers are finding it difficult to obtain […]