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http://www.chicagobusiness.com/arti...the-complete-guide-to-chicagos-condo-collapse

This is what a washout looks like.

As the downtown condo market crashed, developers from North Avenue to Motor Row were stuck with thousands of unsold units—and bad debt up to their penthouses. At least four in 10 downtown condo projects proposed or under way five years ago wound up in financial distress, according to a Crain's analysis that for the first time shows the full impact of the recession on residential development in the city's core.

In retrospect, 2007 “was the beginning of the end, and stupid deals were going on,” says Garry Benson, president and CEO of Garrison Partners Inc., a Chicago-based residential consulting and marketing firm. “Stupid deals fall first, and they were exceedingly stupid at the end.”

Read more: http://www.chicagobusiness.com/arti...uide-to-chicagos-condo-collapse#ixzz28iFIFuOP
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the next guy

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http://www.chicagobusiness.com/arti...the-complete-guide-to-chicagos-condo-collapse

This is what a washout looks like.

As the downtown condo market crashed, developers from North Avenue to Motor Row were stuck with thousands of unsold units—and bad debt up to their penthouses. At least four in 10 downtown condo projects proposed or under way five years ago wound up in financial distress, according to a Crain's analysis that for the first time shows the full impact of the recession on residential development in the city's core.

In retrospect, 2007 “was the beginning of the end, and stupid deals were going on,” says Garry Benson, president and CEO of Garrison Partners Inc., a Chicago-based residential consulting and marketing firm. “Stupid deals fall first, and they were exceedingly stupid at the end.”

Read more: http://www.chicagobusiness.com/arti...uide-to-chicagos-condo-collapse#ixzz28iFIFuOP
Stay on top of Chicago business with our free daily e-newsletters
 

the next guy

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Cops locate missing 10-year-old - chicagotribune.com

Chicago police were searching for a 10-year-old boy who disappeared from his West Side home Sunday morning.

Anton Haywood's mother told authorities that she found her son missing from her home after awaking at about 11 a.m. Sunday, police said in a community alert.

The mother believed the boy had gone to his sister's home in the 1500 block of South Kedzie Avenue in the Lawndale neighborhood, but police officers who responded to the home didn't find him there, authorities said.
 

the next guy

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Two teens killed, 24 others wounded across city - chicagotribune.com

Two teenagers were killed and 24 others were wounded during a city night filled with gun violence.

The youngest victim, Richard Modell, 17, died from his wounds after being shot along with a friend as the two went to meet a girl in the West Woodlawn neighborhood on the South Side Saturday night.

Richard Modell, 17, may have been targeted due to a feud between two rival gangs, one of which police say he belonged to. He and the 18-year-old were on their way to meet a girl when someone walked up and opened fire in the 6300 block of South Rhodes Avenue just before 9:30 p.m., according to police.

Modell died after being taken to John H. Stroger, Jr. Hospital of Cook County in "extremely critical" condition with a gunshot wound to the chest. Modell lived about three blocks south of where he was killed, a spokesman for the Cook County medical examiner's office said.
 

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‘It’s too much’: 2 murdered grandchildren in 6 months - Chicago Sun-Times

The two teens came from one of those large families that are known by most folks on the block because they’ve lived there so long.

Florine and John Monroe — the grandparents of Modell McCambry, 17, who was killed Saturday night, and his cousin, Miles Turner, 18, who was critically injured in the same shooting — had raised six girls in their Woodlawn home in the 6500 block of South Rhodes.

In the course of more than 30 years, they also raised several of their nearly 40 grandchildren and great-grandchildren in that home.

This year, the deadly violence that has wracked Chicago’s inner city came calling on this large family, not once, but twice. Another grandchild was murdered six months ago.
 
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