CHICAGO-Developers of a proposed 24-unit building at Madison Street and Homan Avenue line up $1.6 million in no-interest, 32-year mortgage financing in addition to historic rehab and low-interest housing tax credits.

CHICAGO-The mutual fund company located in the same building as the real estate services firm nearly triples its stake, to 17.7%, worth $95.5 million as of Friday. It replaces a Japanese insurer as the company's largest shareholder.

CHICAGO-The financing at 6.75% over 10 years is being done to pay down the REIT's $1-billion revolving credit facility and buy back its MandatOry Par Put Remarketed Securities.

CHICAGO-Count Kenneth P. Riggs Jr., chief executive officer of Waverly, IA-based Real Estate Research Corp., among the economy's bears. Although indicators point to a recovery, the economy could be midway through a double-dip recession, he tells the Chicago Real Estate Council.

BERKELEY, IL-The building at 5750 McDermott Dr. is acquired by Chicago-based Bridge Development Partners, LLC, which obtains a $3-million mortgage from LaSalle Bank. Bridge Development already has a broker lined up for its eventual sale.

CHICAGO-A virtual Who's Who of developers, architects and commercial real estate attorneys meet with department of planning and development officials in a pre-submittal conference on the city's oft-stymied Block 37 project.

WYOMING, MI-A grocery supermarket and discount clothing retailer sign leases for 78,000 sf in new space being created in the redevelopment of the Rogers Plaza community center by Hartford, CT-based The Hutensky Group.

LOUISVILLE, KY-The 215,426-sf multifamily rental building at 430 W. Muhammad Ali Blvd., which also includes 22 commercial spaces, requires $565,933 in repairs even though the property underwent rehab in 1999. Occupancy is 83%.