CHICAGO-The 67-year-old not-for-profit hospital at 645 S. Central Ave. could tap the majority of a $41-million tax increment financing budget to expand its emergency room, renovate all patient rooms, build a new office building and day care center.

CHICAGO-Following another record year with $898.1 million in multifamily rental sales, the first quarter has seen $386.7 million in volume, report Appraisal Research Counselors vice presidents Ron De Vries and Gail L. Lissner.

CHICAGO-LaSalle Bank, Bank of America and National City Bank put up the money as pre-sales of the 133 units at 160 E. Illinois St. ranging from $399,900 to $949,900 hit 80%.

CHICAGO-The Downtown condominium sales market is with 1,624 units going under contract or reserved during the first quarter, according to Appraisal Research Counselors. The multifamily experts also note the record 2005 conversion pace is slowing to more normal levels.

CHICAGO-Independence Community Bank lends more than $4.6 million to refinance and buy 95 units in the city and suburbs. Rates range from 5.75% to 5.99%.

CHICAGO-McHugh Construction Co. gets the contract to renovate the historic Blackstone Hotel at 636 S. Michigan Ave. to a Marriott Renaissance. The project is an estimated $112-million undertaking by Denver-based Sage Hospitality Resources.

CHICAGO-McHugh Construction Co. gets the contract to renovate the historic Blackstone Hotel at 636 S. Michigan Ave. to a Marriott Renaissance. The project is an estimated $112-million undertaking by Denver-based Sage Hospitality Resources.

CHICAGO-The fledgling structured mortgage REIT hopes to have more than 40% of its portfolio in investments outside the mortgage-backed securities within the next 18 months.