CHICAGO-Residents who bought early into the Trump Tower here aregetting nice returns when they decide to flip their condo units,according to Crain's. On average, the 31 units thatchanged hands collected 12% more than the original sale price --even during the recession.
But developer Donald Trump still hasn't sold enough units in thetwo-year-old, 92-story development to repay lenders. He is now inthe process of restructuring a $200-million loan to help give moretime for payments, the article says.
Only 55% of the project's condo units have changed hands todate, as well as 46% of its hotel units. The good news for Trump,according to his lawyer, is that a deal is only a few weeks away.Click here for the full Crain's article.
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