Chicago Real Estate News: Giant Raccoons, Vacancies and Vandalism

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Wrigleyville Bar Owner Slapped with Foreclosure Suit What, giant raccoons "as big as orangutans and bolder than ever before" invading foreclosed Chicago homes?! Since last week, this isn't the only problem that the city has brewing. Strip mall vacancies have hit a 30-year high, state unemployment ticks upward, and Illinois foreclosures are up over 17 percent in the first quarter. Blago's home gets vandalized and oh, Cubs fans, grab your beers while they're cold -- the owner of a bar overlooking Wrigley Field has been slapped with a foreclosure suit. At least we learned Evanston has a chance to be the first town in the nation to build an offshore wind farm.

Here's what happened this week in Chicago real estate news:
  • Giant raccoons have overrun foreclosed homes in Chicago and the pests will soon have more places to crash. Since the start of the year, there's been over 6,000 foreclosure filings. [HousingWatch]
  • A Chicago suburb approves a proposal to create the nation's first offshore wind farm. [HousingWatch]
  • Strip mall vacancies hit a 30-year high with an almost 12-percent vacancy rate. [Crain's Business Chicago]
  • Illinois' unemployment rate rose to 11.5 percent last month from 11.4 percent in February. [Crain's Business Chicago]
  • Foreclosures jump 17.5 percent in the first quarter over the same period of last year. [Crain's Business Chicago]
  • South Side Mayors say that their suburbs have the highest vacancy rate in the state and they want to do something about it called "vacant-building registration." Hmmm, I wonder how that will work. [Southtown Star]
  • Owner of Lakeview Baseball Club next to Wrigley Field is hit by a foreclosure suit after defaulting on $3 million in mortgages. [Chicago Breaking News]
  • A couple of teenagers threw a bottle through former Illinois Gov. Rod Blagojevich's window. It's unclear whether they knew it was his house. [NBC Chicago]

    Read about more
    Chicago Real Estate news or find homes for sale in Chicago at AOL Real Estate.

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