Real estate advisor spends $840K on Bosworth

David O. Stein and his wife, Lisa, bought a three-bedroom, 2.1 bath at 2706 N. Bosworth Ave. in Lincoln Park for $840,000 from H&L Homes Development on Dec. 27.

Mr. Stein is the founder of Steinco Corporate Real Estate Advisors in Chicago. The company is a national tenant representation firm that helps office tenants with lease issues and planning. He founded the firm in 1996.

Transfer tax may tighten real estate market

Discouraged by bad news from the housing market due to the subprime mortgage crisis and tough economic times, relatively few people are buying new houses or condominiums at the moment. And Hollar, a 32-year-old lawyer for the Department of Justice, says a proposed increase of $3 per $1,000 in Chicago’s real estate transfer tax may give potential buyers another reason to put off searching for a new place. The tax, currently $7.50 per $1,000, is paid by the buyer of any residential, commercial or industrial property in the city.

DePaul session on mixed-usereal estate market

DePaul University's Real Estate Center and Chaddick Institute for Metropolitan Development is presenting a half-day conference to explore forecasts that will affect the Chicago-area mixed-use real estate market in 2008-09.

The event, "The Changing Rules of Mixed Development," is being held from 1 to 5:15 p.m. Tuesday, with a reception to follow, at the Chicago Cultural Center, 78 E. Washington St.

Chicago Brokers Launch Gemstone Real Estate Partners

he firm is up and running after more than three years of planning, says Michael Burns, the longtime Studley broker who co-founded Gemstone with Mark Katz. According to Burns, Gemstone will focus on value-add opportunities in the office and industrial sector in suburban Chicago, primarily in the $3 million to $30 million range. "Based on our understanding of tenants and landlords in suburban Chicago combined with our insight in repositioning buildings, we have the ability to create value for us and our investors," Burns said.