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Hilldale foreclosure sale

What are the things that puzzle, enrage, delight and tickle you as you go about your life in Madison?

Re: Hilldale foreclosure sale

Postby Crockett » Wed Jun 22, 2011 1:15 pm

narcoleptish wrote:Which brings us to the really important issue here, poor Bank of America ): They stand to lose 50 million dollars here. There must be some way the good people of this country can step in and make sure that doesn't happen. Hmmm..


This is what I don't think people really understand. WE paid Freed to screw this up. That is how this works when taxpayers bail out banks.

Shit flows downhill; and I'll let you guess who's at the bottom...
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Re: Hilldale foreclosure sale

Postby snoqueen » Wed Jun 22, 2011 2:23 pm

rabble wrote: We like the Flat Top, the Dane, and we've been to Sundance several times but every time we wander through that mall we don't see anything else that interests us enough to make a purchase. I think my wife bought a watch from Kubly. That's about it.


There you have it in a nutshell.

The problem with America is people are not shopping enough.
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Re: Hilldale foreclosure sale

Postby Maeve » Wed Jun 22, 2011 3:10 pm

Yes, Sno! People are not shopping enough.
Those same damn people that caused the financial crisis by defaulting on mortgages.
The Big Short by Michael Lewis covers all this in excruciating detail, yet reads like a novel.
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Re: Hilldale foreclosure sale

Postby Henry Vilas » Wed Jun 22, 2011 3:16 pm

By late August unionized public workers will have a couple hundred dollars less is discretionary money to spend. That certainly isn't going to help businesses nor the economy.
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Re: Hilldale foreclosure sale

Postby Maeve » Wed Jun 22, 2011 4:18 pm

I took a significant pay cut two years ago, in the private sector. I feel for unionized people and retirees and what's happening to them now. I wouldn't wish that on anybody. Where is the trust? Not here anymore. I guess there never were any guarantees, but to lose so much 401K and read Lewis' book about how it all got played around with -- ick. One arrogant trader dude lost $16 BILLION in one day, to date the record, and he walked away a multi-millionaire. And we're screwed. Happy Independence Day, coming up. As if. Sorry for the negativity -- but, ick.
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Re: Hilldale foreclosure sale

Postby gargantua » Wed Jun 22, 2011 4:42 pm

Henry Vilas wrote:By late August unionized public workers will have a couple hundred dollars less is discretionary money to spend. That certainly isn't going to help businesses nor the economy.


If my state experience is any indication, non-unionized state workers will not be spared the reduction in take home pay. Which really makes me wonder why anybody thinks economic conditions will be improving in the near future. Based on what, exactly?
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Re: Hilldale foreclosure sale

Postby Maeve » Wed Jun 22, 2011 7:17 pm

Sooner or later the powers that be will figure out that they have less $$ to make when we have less $$ to spend. Meanwhile, they're too involved in greed.
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Re: Hilldale foreclosure sale

Postby Michael Patrick » Wed Jun 22, 2011 8:03 pm

gargantua wrote:
Henry Vilas wrote:By late August unionized public workers will have a couple hundred dollars less is discretionary money to spend. That certainly isn't going to help businesses nor the economy.


If my state experience is any indication, non-unionized state workers will not be spared the reduction in take home pay. Which really makes me wonder why anybody thinks economic conditions will be improving in the near future. Based on what, exactly?


Correct. My wife and I are both non-union state employees, and our paychecks are getting whacked right along with the unionized state employees...
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Re: Hilldale foreclosure sale

Postby rabble » Wed Jun 22, 2011 8:22 pm

Maeve wrote:Sooner or later the powers that be will figure out that they have less $$ to make when we have less $$ to spend. Meanwhile, they're too involved in greed.

I think you're missing the big picture. They aren't cutting our pay and raising our taxes to make more money. They're doing it because they've nickel and dimed the private sector down so far that public work looks good by comparison.

Once they've narrowed that gap they can get back to shaving more off of everybody else's paychecks.
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Re: Hilldale foreclosure sale

Postby Maeve » Wed Jun 22, 2011 9:38 pm

Yeesh. This all started out about a shopping mall, and now I don't want to get out of bed tomorrow.
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Re: Hilldale foreclosure sale

Postby green union terrace chair » Thu Jun 23, 2011 12:13 am

Let's pool all our resources and buy Hilldale. Imagine, each storefront could be a different forum thread. Walk into a store and have an argument, er, discussion with whoever else is there.

Also, I hear there is gold in the basement.
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Re: Hilldale foreclosure sale

Postby Troy Thiel » Thu Jun 23, 2011 7:05 am

Freed took a bath on this specific project on components they thought would bring return that were never built; the misguided two huge condo towers, a Hotel and expanded mall retail space. Several million in architectural, marketing, consulting time went into those with no payoff and so their pro forma was definitely thrown off.

Meanwhile, the mall has developed nicely, good restaurant options, Sundance is a huge plus (we should do a first run cineplex downtown!) in generating foot traffic, Sentry and many other excellent options...its been a huge draw for the area...the most successful and stable housing stock to sell in the area, even in this depressed market. Target was a good adjustment to the plan and while there's demand for the new apartment housing at the corner...go to Milwaukee's North Avenue Whole foods...would have been nice to have similar, although Sentry's stepped up their game nicely, as has the coop, trader joes etc...

The Hilldale default is more an example of Freed's financial issues as an overall company....over extended....big time..in Chicago. They bought the Carson Pirie Scott Building in the loop then got rid of their huge retail tenant..right at the wrong time to try and refill it....they made mistaken assumptions on Hilldale, and on several other projects. It all adds up. I'm amazed they didn't sell Hilldale to a REIT....maybe they want some tax write off?

Meanwhile, the project is great for the area...and I could easily see a Hotel addition working soon at the site to help the numbers.
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Re: Hilldale foreclosure sale

Postby Michael Patrick » Thu Jun 23, 2011 8:17 am

Troy Thiel wrote:and I could easily see a Hotel addition working soon at the site to help the numbers.


A developer wants to build a hotel just north of there, at Whitney Way.
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Re: Hilldale foreclosure sale

Postby gargantua » Thu Jun 23, 2011 11:22 am

Michael Patrick wrote:
Troy Thiel wrote:and I could easily see a Hotel addition working soon at the site to help the numbers.


A developer wants to build a hotel just north of there, at Whitney Way.


Is that the old Irish Waters site?

I'd rather have Irish Waters back.
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Re: Hilldale foreclosure sale

Postby Troy Thiel » Thu Jun 23, 2011 11:29 am

That might be in that site...miss irish waters too...think the siting for the hotel back in hilldale would still be good...good for the hotel as well. the project planned was a "Leed" certified project ta boot...good project potential
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