Opus Development Corporation today announced the sale of the Highland Landmark V office building in Downers Grove, Ill. to an unidentified private investor for an undisclosed sum, with the sale closing March 14, 2011.
Dave Everson, vice president and general manager, Opus Development Corporation, represented the seller and Cornerstone Real Estate Advisers represented the purchaser in this direct transaction.
Highland Landmark V is a 251,235 square foot, eight-story, multi-tenant office building in the Highland Landmark Office Park, which is located at the southeast corner of I-88 (East-West Tollway) and Highland Avenue in Downers Grove.
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Tags: Building, Office Building, V Office, V Office Building
Fixed mortgage rates edged up this week, but even 30-year rates below 5 percent have done little to boost home sales.
Freddie Mac said the average rate on the 30-year fixed mortgage rose to 4.81 percent from 4.76 percent the previous week. It hit a 40-year low of 4.17 percent in November.
The average rate on the 15-year fixed mortgage increased to 4.04 percent from 3.97 percent. It reached 3.57 percent in November, the lowest level on record dating back to 1991.
Mortgage rates tend to track the yield on the 10-year Treasury note, which rose this week.
Still, low rates haven’t helped the weak housing market.
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Tags: Fixed Mortgage, Mortgage
A federal judge eased the burden of evidence Syncora Guarantee (SCA: 0.00 N/A) must meet as it attempts to compel EMC Mortgage Corp. to re-acquire toxic home equity lines of credit that Syncora is insuring under an agreement.
The defendant, EMC Mortgage Corp., is now part of JPMorgan Chase (JPM: 45.96 +0.22%) after being acquired by the bank three years ago.
Syncora filed the original suit against EMC Mortgage Corp.
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Tags: Emc, Emc Putback
In Marion County, Indiana, tax lien sales are used to help the county government recoup losses when property owners fail to pay their taxes. Unfortunately, the system is “backing up” as unsold, delinquent properties pile up debt and fail to move at the auctions[1]. For example, one structurally unsound, vacant motel property has outstanding taxes in the sum of $70,000. Not surprisingly, it did not sell at the last auction and now must wait until a tax surplus sale in order to have its debt cleared and be offered at a more “reasonable” price. Furthermore, if the properties appraise high enough, then the city-county council in the area may opt to refuse to approve a tax title deed, which erases back taxes and liens before the auction so that buyers can bid directly on the property. Of the
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Tags: Tax, Tax Properties
Jones Lang LaSalle announced the appointment of Carson Good to lead the firm’s retail capital market business throughout Florida. In his new role as managing director, Good will partner with Managing Directors Jubeen Vaghefi, Jeff Morris and Denny St. Romain as part of the Florida-based Capital Markets team. Good and his team will grow and drive value for the firm’s expanding international capital markets client base and work with Jones Lang LaSalle Retail to build its open-air retail platform in Florida. Good has served as a senior executive for The Trammel Crow Company, Pizzuti Organization, Intram Investments, and as president of Good Capital Group.
Tags: Carson Good, Good, Jones Lang Lasalle, Lang Lasalle