Property Scene in Chicago Increasingly Attractive to Big Financial Players

In response to what they reckon to be an undervalued realty market in the
Chicago area, First Union Real Estate Equity and Mortgage Investments has
jumped into the pool with $69 million in convertible mezzanine loans,
corresponding to stakes in 22 commercial office holdings all over the
metropolitan and outlying regions of Chicago.

The entry of a large, nationwide company like this one implies that the
Chicago commercial realty market is really heating up. Smaller Chicago
realty investors would be wise to take note.