CHICAGO-"Quite frankly, I think it's time to blow up the property tax assessment system and start over," Mayor Richard M. Daley said in his annual "City of Chicago" address. He also promises continued pressure on multifamily developers to produce affordable housing.

CHICAGO-The community development commission endorses the department of planning and development's efforts to acquire 178, 180 and 188 W. Randolph St., either through negotiations or eminent domain. At least two property owners indicate they will fight the move.

CHICAGO-Appraisal Research Counselors' "Downtown Chicago Residential Market Overview" dispels notions such as interest rates being the driver for unit sales. Meanwhile, units delivered before 2000 are still on the market, as well as those in projects announced two years ago.

CHICAGO-National Real Estate Clearinghouse fields 605 bids for the stations, most of them including convenience stores, in Detroit, Cincinnati, Dayton and Columbus, OH. The properties go to 43 separate buyers.

CHICAGO-The value of the 622,487-sf office building at 515 N. State St., which is 58% occupied by the American Medical Association, reportedly is $130 million as a result of the deal.

CHICAGO-"The year 2003 was a pretty good year for the rental market with all the things going against it," says Appraisal Research Counselors VP John Jaeger, noting a 2.7-percentage-point improvement in occupancy against the loss of 26,510 more jobs last year.

CHICAGO-Although early lease termination fees were cut by more than half in 2003, Equity Office Properties Trust tenants gave back 5.4 million sf, which cut occupancy by 4.4 percentage points.

CHICAGO-Although early lease termination fees were cut by more than half in 2003, Equity Office Properties Trust tenants gave back 5.4 million sf, which cut occupancy by 4.4 percentage points.