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Real Estate and Development

Ordinance protecting tenants of foreclosed buildings receives committee approval

An ordinance requiring banks to pay relocation fees to residents they evicted from foreclosed properties was approved by the city’s Committee on Housing and Real Estate on Thursday.

Sponsored by Ald. Dick Mell (33rd), the “Keep Chicago Renting" ordinance requires banks and individual buyers who take possession of property through foreclosure to pay evicted tenants $10,600 to cover relocation expenses.

Hotel Lincoln put up for sale

ITW to move to former Kraft campus

City plans to build domestic violence shelter with money from strip club lawsuit

Mayor Rahm Emanuel on Wednesday unveiled plans to develop a domestic violence shelter in the city’s Chicago Lawn neighborhood.

The 40-bed shelter, tentatively called “WINGS Metro,” will feature “suite-based” rooms designed to provide guests with additional privacy and comfort. The shelter is expected to serve 100 families within its first year.

The Southwest Side shelter, slated for completion in June 2014, will also include ten affordable housing units that will be provided for victims transitioning out of the shelter.

Wal-Mart, Mariano's take interest in Bronzeville CHA lands

CME moves forward with sale plan for NYMEX building in Manhattan

Investor puts Water Tower Place stake on the market: report

Plan floated for $3 billion Chicago rail bypass

Foreclosed shopping center sells for less than half 2006 value

Software firm expands in Deerfield

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