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Albert Lea Sunday Tribune (Newspaper) - March 25, 1979, Albert Lea, Minnesota
Cond Manla Al Birt in Tri win sunday March is 1979 pm of a 3renters find apartment buildings sold out from under them by Joseph it. Tybor associated Presa writer Chicago a the City a latest craze is not a dance step or a parlor game ifs called a a Condo mania and some local wags say its the hottest thing to hit this town since the Chicago fire but the rapid conversion of this City a rental apartments into condominiums is no joke to Many people especially the Young and old who either can to afford the initial Down payment or sustain payments that some times Are three times the monthly rent. The phenomenon is not unique to Chicago conversion of apartment buildings to condominiums has been accelerating in san Francisco Houston Washington Atlanta Milwaukee. New York. Boston in Chicago its swiftness is matched Only by worry Over the Impact. Since Jan i an estimated 8, too apartments have either been converted to condominiums or scheduled for conversion according to a Survey by the Chicago Sun times i ast week alone nearly 3.000 lakefront tenants received notices of conversion the news paper said As Many As 45.000 rental units have been converted in the past two years compared to 1076 when there were Only about 10,000 Condo units in the entire City to give it time to study new Laws the City Council has approved a today moratorium on converting Large buildings under existing Law tenants must have 120 Days notice of conversion before being forced to move. The elderly and physically handicapped get i80days with the rapid condominium eth in Chicago have come _ profits for former landlords who have sold As Well As for the developers who have bought and converted most individual Condo buyers have also seen their initial investment double triple or do better than that an efficiency apartment in the 100-Story John Hancock Center sold for about 120,000425.000 when the building converted in 1973 now. It runs about $76,000. Said Phil Moss. Agent for surfer Aco a a it a the Gold hush All Over again a a says i Xxiii Masotti director of Northwestern University Scenter for Urban affairs. And consultant to democratic mayoral nominee Jane Byrne who has put the Condo Issue a no i on my priority but where there is profit for some there is grief for others critics fear that without some better Protection for tenants rental availability a often tight in Chicago a might disappear in areas Quot they re coming too fast too soon too often Quot says Ralph Axelrod Alderman of a North Side lakefront Ward who supported the interim moratorium on conversions a Block after Block of lakefront property has disappeared from the rental Market. A now. Like an octopus the condominium converts Are spreading their tentacles Inland smaller units Are being gobbled up and in Block after Block the people of Chicago who rent their dwellings Are asking Are we next a Quot the most recent Rush of conversions was triggered by the announcement that Carl Sand Burg Village built As a bulwark against that Nemesis of the 60s called Urban blight is going Condo the Village has More than 2.600 rental apartments on 18 acres with 8,non residents Quot the whole thing is a says state sen Dawn Clark Netsch who represents that District Quot we Are losing All those units from a virtually no existing rental Market a announcement of the Sand Burg project spurred talk of the City imposed moratorium and Many developers sent out letters of intent to convert to get under the wire of a moratorium the Range of rents at Sandburg is $265 to $520 a year Harold Louis Miller head of the first condominium development co. Announced prices for the condominiums in a Range from $30,000 to $85,000 current tenants will receive a discount of about 17 percent he said to enable them to own apartments at about $70 a Square foot that a a bargain compared to $85 and up elsewhere but some Sandburg tenants and others Are trying to fight the move Quot i m 66 and retired and we re going to fight like hell Quot says mrs Charles Wilson who has lived for 26 years in a building going Condo in Hyde Park on the South Side a they offered us our apartment for $45,000 no Way we can do it it would run about $650 a month we pay $210 we Don t want to ask our children for help Quot tenants fighting another con version on the North Side Point to the Case of mrs Robert Cam x i Phell. An 83 year old widow who was paying $350 a month rent with her son the monthly would double if ight. With the Down payment an added Cost Quot my whole life is being disrupted i m being torn from my neighbourhood and at my age Quot the tenants at that building had tried to buy it for them a selves when the forr Nei owner died my offered $2 million they were topped by a $2 21 million bid but saw they would have gone higher if Given tire Chance heal estate Laws in Chicago do not guarantee them that Chanco one reason Why Many apart men dwellers have been finding that when their building goes Condo they must Deal with a middleman landlord rather than buying their apartments direct at a lower Price under Lite proposed tenants plan an apartment which Roo ted for $45n or $500 Iii the build ing would have been sold As a Condo for $6f�,flon under the new Developer that apartment is going for $1 it iou Alderman rom Anthrop who represents Hyde Park says the of new legislation should be a to Correct the severe imbalance in the rights and Protection of condominium Devi i oilers compared to the rights and protections of tenants and prospective purchasers Quot a on tin spot tickets and 0 a reservation a Cai Lek a or Var Ofeia Faff car a world a a travel a 373-1451 a a a a they make news a Imp a Condo victim a Richard Darling packs his possessions in his Eva Stone iii., apartment where he has lived for the past 14 years. Darling s apartment building is going the route of hundreds in the Chicago area converting to condominiums. Darling cont afford the Purchase Price. Coin operated copying machine to per copy available in oui lobby area Best Western Kohler 507 373 8291 2301 i. Mein St. Albert Lee. Mien. John Wayne Newport Beach. Calif apr John Wayne was Quot deeply touched Quot last year when a flotilla of boats paraded by his Newport Beach Nome to Welcome him Back from a bos ton Hospital after lung surgery. But the 71-year-old film Star has turned thumbs Down on plans for a similar boat Parade John Wayne past his House sunday to Welcome him Back from Cedars Sinai Hospital where he underwent Gall bladder and stomach cancer surgery Jan 12. Quot there a not going to be any boat Parade Quot said Wayne s Secretary Pat Stacy. She said a Blu of Newport Beach boaters d planned to use the float by As a fund Raiser to raise Money for a John Wayne cancer research fund that they wanted to establish. Rail contract Rio de Janeiro Brazil apr a brazilian construction firm has signed a $1.5-billion contract with the government of Iraq to construct a railway network linking Baghdad to the Southern part of the country. The firm Mendes Junior says the project is expected to be completed by 1983 China plants Tokyo a four japanese firms have completed a $200-million Deal to Export four petrochemical plants to China where they will produce materials for making plastics and Man made fibres. The four firms involved Are Mitsue petrochemical industries Ltd. Mitsu engineering and shipbuilding co. C. Itch and co., and kosho corp. She said. Quot or Wayne said that last year he was most appreciative and deeply touched y the demonstration but he does no to want to lend his name to a fund Raiser at this time Quot Wayne returned Home feb 24 after the surgery made Neces sary by the discovery of can Cerous cells in his stomach he was Given an artificial stomach Keith Richards Oshawa. Ont. A Roll ing stones guitarist Keith Richards will serve his sentence for heroin Possession on a concert stage Here next month Richards will perform two shows to Benefit the Canadian Keith Richards National Institute for the Blind at the 5,500-seat Oshawa civic Centre on april 22, promoters and a spokesman for the Arena said Friday. Richards who was convicted last october of Possession of heroin was Given a two year suspended sentence and ordered to perform the Benefit concert As a condition of probation. A spokesman said it was not known whether the rest of the rolling stones or any other musicians would appear at the con Cert. Shaun Cassidy los Angeles a Shaun Cassidy Star of Tele visions Quot the Hardy is suing the Man who sold him a Hollywood Hills Home con tending that the House was left shop in Comfort at Skyline mall Quot a shop effective thru tuesday 3-27-79 store hours monday thru sat. 8 . To 9 . Sunday 9 . To 5 . K 7 Shaun Cassidy _ for Quality foods pk5gly Wigi it reasonable prices and Friendly service too correction the soil conditioners and seed spreaders on the Back Page of the Sears Sale circular in today Albert Lea Tribune Are not available in the Albert Lea store. We apologize for any inconvenience this May have caused. In disrepair a spokesman for the actor says. The suit filed thursday in Superior court seeks $150,000 in damages from the seller Victor Drai. The suit contends that drat had agreed to make repairs on the House hut that repairs were not made on the plumbing wiring and roof Drai could not be reached for comment Cassidy spokesman declined Friday to reveal the Price the Singer paid for the Home specials at the Potpourri Shoppe Hie. Clark rumble seat cords it $099 now. O fresh Fryer thighs in 79 la. Frozen Turkey drumsticks be sure to get your Jackpot card punched at least Given away each week f Rozen Ocean Perch fillets $169 la. $ i oo00 Wisconsin longhorn cheese Calif. Navel jumbo Sweet a Juicy Long sleeve cowl neck tops ski 99 pineapple i we Calif. Sno boy i la carrots 3-99 of a 99 sii.50 now. Of disco a last Call for. Drapery cleaning Sale Leothe Pillow special cleaned it a f of sanitized $ \ new ticking 3�?� a a phom 371-1311 Quot on Riff comm of Broadway and Fountain Quot a of Kitty care 212 n. Browy. Albert Lea Minn. New store hours . 7 90 . To 4 00 . Sat. 0 00 . To 4i00 . For your personal laundering and dry cleaning
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