Chicago Real Estate News

Warren Buffett Makes a Move on ChicagoMore than a week has passed since the last Chicago news round-up, but things are never completely quiet in the Windy City, even real estate. This week's top headlines: Chicagoans are being watched, Warren Buffet makes a move on Chicago, mortgages on small rentals are in trouble, and per usual, a couple big-time properties go on the market. But at least one major property was snatched up: It looks like President Obama is getting some new Chicago neighbors.
  • Former Homeland Security Chief declares Chicago as America's most-watched city, but does that make it safer? [AP]
  • Study says that more than 42 percent of small rental buildings in Cook County are 'underwater.' [Chicago Tribune]
  • Berkshire Hathaway buys local real estate company to boost Chicago home sales as local prices rise. [Bloomberg]
  • President Obama's next-door neighbor in Chicago's Hyde Park sells for $1.4 million. Whose the winner? That's easy: The sellers bought the 6,000-square-foot house for $35,000. Thank you Obamas. [AP]
  • Mayor Daley and local developer finish financing for the next phase of the Cabrini-Green redevelopment. It's going rental, too. [Crain's Business Chicago]
  • Ebony/Jet media mogul, Linda Johnson Rice, puts her 4-bedroom, 6-bath condo on Chicago's Gold Coast up for sale for $2.9 million []
  • Celebrity trainer and fitness guru Jim Karas buys a $1.2 million condo in Lake Shore East after a million-dollar price cut []

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