from today's Crain's Chicago Business (3/10):
A Sterling example of condo bust
By Alby Gallun and Thomas A. Corfman
March 10, 2008
"The sign out front says, "The Sterling Private Residences," but the 50-story tower at 345 N. LaSalle St. recently has earned a less distinguished title: condo foreclosure capital of Chicago.
Over the past three years, lenders have filed 95 foreclosure suits, accounting for about $40 million in loans, on condominiums in the 389-unit high-rise, fueling a big drop in condo values throughout the building.
Completed about six years ago, the Sterling has emerged as the most prominent symbol of the excesses of the downtown condo boom." ...
for the complete story
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