Bleak outloook makes financing a tall order for 92-story skyscraper
(NEWSER) - Donald Trump's 92-story Chicago tower has been hit by a triple-whammy of the credit crunch, the housing slump, and sagging retail sales, making foreclosure a real danger, the Wall Street Journal reports. Trump, who developed the tower without partners, owes $1 billion on the project but has so far sold only $600 million in condo units and condo-hotel units. He's looking for an extension on a key loan due this Saturday. More»
