roeder
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David Roeder biography
David Roeder is a business reporter for the Chicago Sun-Times covering real estate development and the financial markets. Besides his daily coverage, he writes columns …
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‘Mid box’ retailers having hard time finding spots in Chicago
DAVID ROEDER: “Big box” is a common term in the retail industry, used for years. But have you heard of “mid box” retailers? You and I might think of it as plus-sized stores going on a diet. Retailers that used to be defined by aisles that stretched to the horizon are learning the secrets of downsizing. They have found that smaller stores can be an efficient way to get closer to more people. But a report by Mid-America Real Estate Corp. concludes that Chicago needs more places to put them.
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Cubs owner Ricketts a conduit for social investing
DAVID ROEDER: What if you wanted your investment to go right to work, building affordable housing, starting a business in a poor part of town or providing a micro-loan to an enterprising African? And what if you wanted to get your money back, with a small return for good measure?
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150 apartment units may hit Ravenswood near Metra
City planners are close to approval of an apartment complex with parking on an open site in Ravenswood that has enticed developers for years. The property covers nearly 3 acres at 1801 W. Argyle, a tract that sits next to a Metra commuter stop. Developer …Read More
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2 Rush St. clubs — Jilly’s, Back Room — face last call
Two longtime music venues on Rush Street, Jilly’s and the Back Room, would close under a development proposal that requires review from the city. Both nightclubs are in a three-story building at 1007 N. Rush. The building’s owner, Realtor and investor Grace Sergio, has proposed razing the building, which also has four apartments, and replacing it with a two-story structure with a single retail or commercial tenant.
Are oil prices cruising for a bruising?
As you gas up the car this holiday weekend, paying prices many view as extortionate, take comfort in the outlook of some that oil prices can’t go on at their high levels. A commodities analyst at Elliot Wave International, Jeff Kennedy, has taken to the …
Office developer on track to build over tracks at Lake/Canal
Almost from the day it was announced last May, the planned office building in the West Loop was greeted with skepticism. Hines Interests LP said it would build the riverfront tower at Lake and Canal “on spec,” or without committed tenants, a risky proposition that hasn’t been tried here since 1998. Work will start by yearend, a Hines exec says.
Shakespearean themes in Peregrine’s demise
It’s possible that Russell Wasendorf Sr. finally came clean and told the absolute truth in early July, as he realized that regulators were getting wise to what he would describe as his own financial fraud. Wasendorf was the chairman of futures brokerage Peregrine Financial Group …
Developer faces higher bar at old Children’s Memorial site
DAVE ROEDER: After more than 50 community meetings that featured generous helpings of criticism and praise, developer Daniel McCaffery finds himself with more to do before he can redevelop the old Children’s Memorial Hospital site in Lincoln Park.
Strategist zeroes in on economy’s bottom line
One of the biggest irritants about following the stock market is the endless daily flow of economic data, numbers that point up, down and sideways. They are followed most closely during times of uncertainty, which is pretty much always. The data releases come from many …
‘Big style in smart places’
DAVID ROEDER: Jay Michael and his business partners are intent on building apartments and a brand. They insist they can do it in a way that helps neighborhoods turn around. Uptown and Edgewater on the North Side are about to put them to the test.
Stock tip sheet hits unlikely winners
Looking for M&A; action? That’s “mergers and acquisitions,” to those in the know. The idea is to pick a stock for which a buyer might pay a premium. It’s a little like buying a lottery ticket for a drawing held at some indefinite future date. …
Nobody home at suburban office parks
DAVID ROEDER: The suburban office market already lost its mojo. Now it’s losing its Moto. Motorola Mobility, via its purchase by Google Inc., is trading in its digs in Libertyville for prime space in Chicago’s Merchandise Mart, becoming the latest jobs installation from the suburbs to make the transfer downtown. It’s another example of how the isolated, splendidly landscaped corporate base in the suburbs has fallen out of favor.
Ariel manager finds value off beaten path
With its corporate symbol of a turtle, Ariel Investments glories in its reputation as a steady fund steward unconcerned with where the money mobs go. It is committed to the long term. And it has a rock star in its midst, David Maley.
CPS putting surplus buildings up for sale
While retailers are rolling out back-to-school sales, the Chicago Public Schools are planning a sale, too, except that it’s not about backpacks and blue jeans. It’s about real estate.
The day the social media illusions died on Wall Street
DAVID ROEDER: Put it down: July 26, 2012. It was the day reality walloped investors in Internet stocks, 12 years after the whole sector first got whacked upside the head.
Lake Shore Athletic Club going residential — not as senior housing
A Northbrook developer has scrapped plans to convert the landmark former Lake Shore Athletic Club into senior housing, a sector that has been difficult to finance.
Cupboard bare at Jewel-Osco parent
DAVID ROEDER: If you’re at all savvy and selective today, you have several lists going. There’s the Jewel or Dominick’s log; the fancy Whole Foods items; the stuff that comes cheaper at Aldi or Costco, and the list for those smaller stores where the produce is fresher and cheaper. This creates a problem in the shares of Supervalu (SVU), a company that can’t continue in its present form.
Cupboard bare at Jewel-Osco parent
DAVID ROEDER: If you’re at all savvy and selective today, you have several lists going. There’s the Jewel or Dominick’s log; the fancy Whole Foods items; the stuff that comes cheaper at Aldi or Costco, and the list for those smaller stores where the produce is fresher and cheaper. This creates a problem in the shares of Supervalu (SVU), a company that can’t continue in its present form.
Preservationists worried that old Prentice is at risk again
A year ago, preservationists were angry about Northwestern University’s stated plan to tear down the old Prentice Women’s Hospital at 333 E. Superior. They wanted the Bertrand Goldberg design preserved and they demanded that Mayor Rahm Emanuel make it a landmark. Emanuel didn’t do that, but he also wouldn’t acquiesce in its destruction. Now, one “save Prentice” coalition suspects a deal is being cut and again is pressuring Emanuel and Northwestern.
The Curious Investor: Fraud puts futures markets to the test
I’ll let you in on a secret about futures trading in Chicago, something I’ve picked up in 20 years of following this homegrown, colorful and occasionally brilliant industry. It has a public persona that doesn’t match reality. Think of the sweaty traders, loud, brash and seemingly ready to bust somebody’s nose in the pits. They’re still around, despite a shift to electronic trading, and remain a colorful emblem of Chicago ingenuity. So it might surprise you that there’s another truth about the futures business: It’s full of wusses on the public dole.