The Tribune Company, in discussions about its future, is weighing a proposal from Sam Zell, the Chicago real estate maverick and billionaire who sold his huge office development company this month for $39 billion in the biggest leveraged buyout ever.
A special committee of Tribune board members was close to settling on an internal overhaul when [...]

Tribune Co. reported a better-than-expected rise in quarterly profit on Thursday helped by an extra week in the quarter that boosted advertising revenue at the company’s newspapers.
The results come as Tribune considers several offers to split up its newspaper and broadcast divisions, or to go private.
Tribune, which owns the Los Angeles Times, a group of [...]

Happy endings sometimes are neither the end nor happy.
Ten years ago, the small Iowa town of Perry thought it had a happy ending for the run-down Hotel Pattee, once the town’s showplace before the railroads and meatpackers – and a lot of their former employees – moved out of town.
Newport Beach philanthropists and political activists [...]

Renowned Chicago-area Restaurateur and Chef Ted Cizma has been named Executive Chef of the award-winning, 900-acre Grand Traverse Resort & Spa, near Traverse City, Mich. In his new position, Executive Chef Cizma oversees all culinary staff and operations for the Resort’s food & beverage outlets including three restaurants, and all menu and food planning and [...]

Many lenders have been challenged by the unique characteristics of condo hotel and fractional real estate projects. Vacation properties often do not fit a standard mortgage underwriting mold because of scarce-locations or unique features. More than 60,000 condo hotel units coming to market in the next 24 months, and fractional real estate sales growing at [...]