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In a hot downtown apartment market , many developers are asking: Should I sell or refinance? A group led by Chicago developer John Buck recently picked the latter, taking out a $150 million mortgage on Mila, a new 41- story apartment tower near Millennium Park. The move generated a big payday for Buck and its partners, allowing them to pull about $60 million out of the property without selling it. Like homeowners who extract cash from their homes by taking on more debt, developers and landlords can use cash-out financing amid rising property values to pocket big profits . For some developers, it's an especially appealing move because they can borrow so much more against an occupied property than they can against an unbuilt construction project . It also helps that lenders are so high on apartments, offering plenty of choices and good loan terms for landlords. "We're doing a ton of" refinancings, said Danny Kaufman, managing director in the Chicago office of HFF,...

-Messenger photo by Chad Thompson The old Phillips Middle School is being converted into an apartment complex, at 1015 Fifth Ave. N. The old Phillips Middle School is being converted into an apartment complex, at 1015 Fifth Ave. N." /> -Messenger photo by Chad Thompson The old Phillips Middle School is being converted into an apartment complex, at 1015 Fifth Ave. N. Two former school buildings in Fort Dodge will become home to more than 100 apartments within the next three years. Foutch Brothers LLC , of Kansas City, Missouri, have plans to restore the Fair Oaks and Phillips school buildings . The firm took ownership of the two schools in 2013 after gaining approval from the Fort Dodge Community School District . By the end of 2018, Phillips, 1015 Fifth Ave. N., will be complete, according to Shawn Foutch, director and owner of Foutch Brothers . “We have done demolition and removal of materials, and we are just about ready for our building permit to start actually building...

Aspen Village apartments looking east from the retail area of Mission Crossing." src="https://s3.amazonaws.com/pvpost.cdn/shared/content/uploads/2013/10/Aspen-Village-Rendering.jpg" width="714" height="357" /> A rendering of the Aspen Village apartments looking east from the retail area of Mission Crossing . A new senior housing complex is getting ready to take off this winter in Mission. The Aspen Village complex could start construction in December at the Mission Crossing development on the west edge of the city. The market-rate apartments are planned to have 101 units, according to Jeff Berg at LANE4 Property Group , which is developing the complex. It will have both one- and two-bedroom apartments. The project is estimated at $13 million, according to the city. The site of the new Aspen Village as it appears today, looking east toward the post office. The Aspen Village complex is the last component of the Mission Crossing project that in...

Quizzes Lists Topics Save The Saxony Apartment Building is a historic apartment building in Cincinnati, Ohio, United States. Located along Ninth Street in the city's downtown, [1] this five- story brick building includes a distinctive range of architectural details. Among these elements are brick pilasters and projections, a three- story bay window on each side of the symmetrical main facade , semicircular balconies , and many stone pieces, such as pediments, keystones, and stringcourses. Due to its location at the intersection of Ninth and Race Streets, the Saxony appears to have two fronts: one onto each street. Although the Ninth Street facade is larger and more complex, the Race Street facade is nevertheless ornate as well: it features small yet elaborate semicircular balconies with wrought iron railings similar to those of the Ninth Street facade . [2] Constructed in 1891 according to a design by leading Cincinnati architect Samuel Hannaford , [1] the Saxony Apart...