U.S. Bank Helps Preserve Minneapolis’ History

Here's part of the story. 

The historic Plymouth Building in downtown Minneapolis will be converted into a 290-room Embassy Suites by Hilton hotel, in part through a $65 million investment by U.S. Bank, the Minneapolis-based lender announced Tuesday.
U.S. Bank reportedly provided $65 million in construction and acquisition loans partially replaced by $16.2 million in equity raised by federal historic tax credits to renovate the 12-story, 384,000-square-foot office building, at 12 S. Sixth St. and Hennepin Avenue.
The project’s total acquisition and renovation cost is $109.6 million.
“With the Plymouth Building’s close proximity to the Target Center and the Mayo Clinic Sports Medicine Center, this development will increase hotel options downtown and drive economic activity for Minneapolis,” Vice President Bob Von Hoene of the bank’s community lending division, based in St. Louis, said in a prepared statement.

5 housing predictions from a property-level profile of underwater homeowners

Here's part of the story.

Takeaways: There are still 7.4 million who owe at least 25 percent more on their home than what it is worth -- representing 13 percent of all homeowners with a mortgage. 30 percent of underwater homeowners don't live in their home, which could mean that more single-family rental inventory will become available. The average loan-to-value ratio is 182 percent, which might mean that the underwater problem could linger for at least another five years.  The shrinking pool of underwater homeowners continues to have an important impact on the U.S. housing market. Using the property-level data behind RealtyTrac's latest Home Equity and Underwater Report, we profiled the 7.4 million U.S. homeowners still seriously underwater to make five housing market predictions relating 

When a 1790s Farmhouse Collides With a 1990s Contemporary

Here's the story from Fox News.

From the road, this 1790s Federal-style farmhouse looks much like it did a couple of centuries ago when it was constructed. But get a little closer and you'll see more details, specifically a contemporary addition completed in 1992 by noted New York architect Peter Gluck.
The $1.75 million home in central New York spans 5,873 square feet with six bedrooms and five bathrooms. It's sure to appeal to history lovers and those looking for a more contemporary style.
The original house is on the New York State and National Register of Historic Places. The owners, who have had the house for 40 years, wanted to maintain the home's historic integrity, explains listing agent Christy Dahms. "The original farmhouse has been restored beautifully," she notes.

Why Real Estate Could Be a Better Investment Than Stocks

Here's the story from US News and World Report.

Once you're on track with your financial goals – such as retirement contributions or repaying student loan debt – you may find yourself exploring real estate investments in lieu of the stock market. Buying real estate as an investment can be lucrative, but it's also cash-intensive and carries risks.

As you weigh your options, consider the following points in your analysis.

Risk versus expected returns. Whether putting cash into the market or purchasing real estate, you need to assess the risk versus the expected returns. Traditional equity investments are much easier to analyze in this way. You have historical data, and although past performance is not indicative of future results, you have a bit more control over how much risk you're exposed to when deciding what amount to invest, the asset allocation and so on. Investing in single stocks versus an index fund is a calculated risk some are willing to take in search of higher expected returns.

Chicago Skyscrapers Scraped by Blue Angels

Lakeview’s new Halsted Flats has a time-saving location

Here's more from Yo Chicago.

Some parts of Lakeview have an inconvenient slog or a traffic-clogged drive to the nearest grocery store or pharmacy – or major league ball field. Getting to and from places that you visit frequently is not how you want to spend time in Chicago’s all-too-short summers.
Residents at Halsted Flats, the new luxury apartment tower at 3740 N Halsted, have a variety of groceries and pharmacies close by, and Wrigley Field is a short walk away.

Where to invest in housing: Rent or own?

Here's part of the story from CNBC.

  The U.S. home ownership rate is now at its lowest point in nearly half a century, which has investors asking if that's by default or choice?
Certainly the recent recession has left fewer young Americans in a position to afford home ownership, but the argument is equally strong that young millennials, as well as downsizing baby boomers, prefer the financial and physical flexibility of renting. So which is the better bet: stocks of the nation's homebuilders or stocks of multifamily real estate investment trusts (REITs)? 

Furnished models open at new Gateway West Loop

Here's the story from Yo Chicago.

Apartments at the new Gateway West Loop have a loft aesthetic that pays homage to the hot West Loop’s history as a warehousing and distribution center. That history is now almost completely eclipsed by an abundance of bars, restaurants and night clubs.
Floor plans for Gateway’s studio to two-bedroom, two-bath apartments are online, along with information about rents and availability dates. The on-site leasing office is open daily and furnished models are available for viewing.
Gateway West Loop has an attractive West Loop location next door to Mariano’s and around the corner from Whole Foods.

The West Loop is among the swankiest areas in Chicago. Here's more on the West Loop. 

West Loop is the area bounded by the Eisenhower Expy on the south, Lake St (200 N) on the north, from the Kennedy Expy west to Ashland Ave (1600 W). Sub-neighborhoods within the West Loop include Fulton Market, Greek Town, Jackson Boulevard and Randolph Market.

More Homeowners Underwater

Here's more from CNBC. 

Home prices are still rising, and the economy is improving, but the ills of the housing crash are far from cured: 7.4 million borrowers were still "seriously" underwater on their mortgages at the end of June, according to RealtyTrac.
The real estate information company defines that as the loan amount being at least 25 percent higher than the property's estimated market value.
Over 13 percent of all properties with a mortgage are in this predicament, and that is actually a slight increase from the first quarter of this year.