Chicago has $3.4 billion in worrisome commercial real estate
Chicago Real Estate Daily reports: The Chicago area has $3.41 billion in distressed or “potentially troubled” commercial real estate and is “another market to watch because of its concentration of properties and developments at risk,” according to a new report from Real Capital Analytics. Of that total, the Chicago market has 29 properties worth $878 million where the mortgage is in default, the owner is bankrupt or a foreclosure case has been filed, New York-based Real Capital says. Chicago has 93 commercial properties — $2.53 billion — that Real Capital says are “potentially troubled,” with either a loan maturing in 2009 or an owner under financial duress. Nationwide, Chicago ranks 10th in the combined number of distressed and potentially troubled properties.
View the full article on Chicago Real Estate Daily: Chicago has $3.4 billion in worrisome commercial real estate
Posted by: Nina Turner