An affiliate of Crescent Heights paid $79.75 million for the 19-story building at 850 N. Lake Shore Drive in a deal executed March 7, according to Cook County property records. That price is 43% less than the property's previous sale.
How many more properties is this going to happen to? With interest rates where they are and loans expiring, it’s going to be interesting, especially as Streeterville says about reassessments. Will homeowners have to make up the difference?
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
And happy to take the loss and get out of town.
How many more properties is this going to happen to? With interest rates where they are and loans expiring, it’s going to be interesting, especially as Streeterville says about reassessments. Will homeowners have to make up the difference?
Can’t wait for the obiden ‘Reign of Terror to be over……maybe things will be a little better…..to many people have been hurt by this guy’s doings!
Prices will plunge further with horrendous democrats running the city into the ground
Will Kaegi take note when reassessments occur for commercial and high-rise residential properties?