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This Week s Chicago Deal Sheet (May 5, 2021)

Delinquent rent in Chicago could now exceed $1B, according to a survey released last week by the Neighborhood Building Owners Alliance, a group of small and midsized Chicago landlords. The high level of delinquency brought about by the coronavirus pandemic is leading to neighborhood disinvestment. With their revenue plunging to historic lows, 65% of landlords surveyed said they expect to make fewer capital improvements. In addition, nearly half expect to cut down on repairs and maintenance. “With so much delinquent rent, many housing providers lack the funds to continue to maintain their properties,” NBOA President Michael Glasser said in a press release.

Lombard approves incentives for redevelopment of former seminary site

Lombard approves incentives for redevelopment of former seminary site A combined Moretti s restaurant and a golf driving range called GolfSocial are part of a $159 million mixed-use project planned for a former seminary campus along Butterfield Road in Lombard. Courtesy of Heitman Architects   Posted4/7/2021 5:30 AM A planned $159 million redevelopment of a former seminary campus in Lombard is one step closer to becoming a reality. Schaumburg-based Hoffmann Alpha Omega Development Group, doing business as Hoffmann 600 Lombard LLC, is planning to construct a mixed-use project on the former Northern Baptist Theological Seminary campus along Butterfield Road.   To help with the redevelopment, Lombard trustees last week unanimously agreed to give Hoffmann 600 up to $27.5 million in tax increment financing dollars over 18 years.

Died: Larry Walker, NIV Translator Who Loved Bible Details

Commitment to accuracy and inerrancy carried him through controversy. Daniel Silliman| Image: Courtesy of the Walker family / Edits by Mallory Rentsch Larry Walker, the last living translator of the original team of scholars who produced the New International Version of the Bible, died on March 8 at age 88. Walker was a Hebrew scholar and a Semitic languages specialist who used his skills in the extinct Amorite language of Ugaritic to shed light on the Old Testament, illuminating the details of everything from the “trading ships” of Isaiah 2:16 to the “darkest valley” of Psalm 23:4. He cared deeply about accuracy and specifics and believed a commitment to the doctrine of inerrancy could serve as the basis for the highest quality of scholarship.

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