DV Urban Realty - Again
Remember those assholes? The "V" in DV is for Vanecko you may recall. In the news again:
- A venture led by Chicago investor Allison Davis faces foreclosure on the site of a former Dominick's supermarket in Lakeview after seizing the property from its prior owner last year.
Wanxiang America Real Estate LLC, an Elgin-based real estate firm backed by Chinese capital, sued last month to collect $8.3 million from an affiliate of DV Urban Realty Partners, a fund led by the politically connected developer. The fund failed to pay off a loan from Wanxiang that it took out after repossessing the property at 3012-3036 N. Broadway in March 2011, according to the complaint,
The suit represents another setback for Mr. Davis and the firm that manages the fund, which was fired earlier this year by five city pension plans, citing the fund's poor performance. The fund and pension plans sued each other in February, with a Delaware judge ruling in August that the plans had the right to fire Mr. Davis' firm.
As a real estate venture firm, they seem to be a complete failure, existing only to funnel money to politically connected individuals before disappearing behind a blizzard of paper and defaulted loans.
Labels: city politics
posted by SCC at 12:01 AM
42 Comments:
CAUTION: When they cannot get money from the Chinese, or need to pay the Chinese, these crooks will go to that Shylock Rahm and have him dip into our pension fund.
Did you vote?
Did you vote NO on CA49?
I went to vote Friday afternoon at Admunsen Park. The line was down the hall and at least an hour wait. Shall I dare say these people were ALL DEMOCRATS.
I watched a movie the other night on BET (Black Entertainment Television) and the screen kept having a message at the bottom, "Vote Like Your Life Depended On It!" Every commercial break had a ad for BHO that treated him like the Messiah.
Stay Safe. I will go back on Tuesday at the regular polling place.
P.S. Everyone I heard from said to vote NO on the Judges Ballot. I don't know enough about any one judge to vote either way right now. The problem with ALL cops voting NO is then why should they do anything for us when we will vote against them anyway. We really need to know which ones are our friends.
Pretty much what the entire political leadership in Chicago is trying to pull with this "business partnership" krap.
This city wants to outsource or privatize everything but wants to remain in charge of collecting the money.
Hell, if the intention of the city is to outsource everything what are we paying the politicians for? Why are ewe paying taxes?
Example the businesses wanting to hire their own security/police and it's sold to us as "this will enable us to free up our current police, to create a higher concentration in the high crime areas".
Hey, more like free up the union cops so that they can stand in the food stamp line unemployed until we can create a crisis to use to bust the unions out of fear.
Speaking of clouted Chicago real estate firms.
We hope the FBI is keeping close tabs on where the money is going on this latest Prentiss Women's Hospital thing.
Google "Allison Davis Chicago" and go to the second article "Obama kickback cronyism" from Forbes. It gives a who's who of crooked Chicago political figures from the mid 90's and how they all helped eachother steal and line their pockets. From Oct 2011.
They f__ed the Chinese. Not so easy to do in a deal -- we got some real home-grown thieves here.
Da Mayo must be so proud.
So how's the Vanecko/Koschman investigation coming along?
Yeah OK, but your missing the big picture ....... It's all George Bush's fault!
Yeah, dv Realty is only experiencing this turmoil and failure to succeed because of eorge Bush.
Mr. Davis one of the partiers at Valerie Jarrett's daughter's wedding last summer.
Fired? No matter, the terms of their agreement guarantee the principles a profit no matter what. They can grossly mismanage their (our) funds and get foreclosed on all their properties and they will still get their profit. That is written in to their agreement with the pension funds.
Don't all novice first time real estate ventures get that type of deal? Especially when the entire real estate market goes in the toilet like it has here the past 4 years.
You wouldn't expect a connected real estate venture to risk not making money now would you?
Sounds like the same people who wrote up the Vanecko-Davis deal with the pension funds also wrote up the contract to sell Chicago's parking meters.
8+ million for a seized Dominick's site? On its face that sounds like its probably a lot more than the site or any particular Dominick's is worth.
Possible that they "borrowed" so much dumb money against the site specifically with the intent to never pay it back, and let the dumb money keep the site?
The can rob, they can cheat, they can kill. Its fine theyre the royal family and laws dont apply to them...
Allison Davis is a guy?
DV doing business with China? How many trips did Daley make to China?
In a word "theft". How can anybody have any kind of a business venture with this family?
Didn't they use pension money for that!?
It's called term limits dummy. No one should have a job for life. Not even a judge. Rotate them. Always vote NO for retention. New blood = new ideas. Just do your research to elect conservative NEW judges.
America
Its now clear what the mayor was doing in china.
This is the Daley scheme...Rahms too.
D-V got their monies back, it's a commission deal. Every real estate transaction the Daley Circle got into, paid off the brokers (D-V) first, deals go sour only for the bank and investors.
Rezko's pyramid schemes too. Davis is O'Bams neighbor.
Patrick is also a venture weasel too. They all get their $$$ up front from the investors...only LAZ is making it with their investment.
Sure takes a long time for Feds to conclude that these DV & Cardinal venture schemes were improper.
And the Democrats don't like the rich.
does valerie, davis, and vanecko have money in the caymans? its not news worthy because of who they are. when will the public come to realize who is really at fault for the pension problems?
Everyone please pay attention to the ballot item asking for the authority for the City of Chicago to negotiate electricity rates for all the citizens. So the City wants to be in charge of what we pay for electricity.
What could go wrong? After all, look at the bang up job the City has done with ERA tows, parking meters, the Skyway, downtown parking garages, Millenium Park, flower boxes, Meigs Field, Maggie Daley Park, City Pension funds and on and on.
Ed Burke, Rahm Emanuel and the rest want control of our electricity rates?
You gotta know there is some rotten political pond scum in there somewhere.
Rahm even spent City money to do a mailing City wide to almost 3 million people. That is how badly they want this.
If Rahm wants it, all I can say is HELL NO!
My theory on the voting of "NO" to all Judges is that the good ones' have no one working to take them off their seat and my vote will therefore not affect them but that my vote will help get a sitting Judge removed if there is a concerted effort to do so by those in the know. Make sense?
Remember everyone, the vital appointment to US Attorney is being put on hold until after this election. Durbin and Kirk are sitting on the appointment. Now why do you think that is? Honest decent motives so as not to upstage the election? Or they want to put their guy in there and expect an uproar afterwards?
Doing an appointment like that AFTER a big election is their way of saying Fuck You to voters, it is none of our business.
The next US Attorney will be no Patrick Fitzgerald, those days are over. Look for more indictments of low level public employees, cops and drug dealers. No more going after top level political scum.
They have the US Attorney's office in their grasp now and no goddamned honest US Senator (former Senator Peter Fitzgerald) is going to mess with that.
Before Christmas you will see the Illinois Political Combine at work once again.
I wouldn't be surprised if Roland Burris is announced as the "new" US Attorney. He sounds like the best man for the job and there is space on his tombstone besides.
Now Roland will do what he is told. Always did.
Can someone please explain TIF funds? I would love to get my hands on something like these. It's money that magically appears out of nowhere to pay for frivolous expenditures.
Why the hell would our pension board allow our money to be invested in any crooked business here in chicago? They must be paid for by daley's crook friends to allow that crap to go on. No cop would ever approved those funds to be allocated like that. Where the hell do we keep tabs on shit like this because officers need to know who's doing what with their money.
"...dv Realty is...experiencing...turmoil and failure to succeed..."
--11/03/2012 12:55:00 AM
Oh.
This is like "developmental issues and challenges?"
Are they having "failure to thrive?" "Moderate Cognitive Delay?" What?
They need hugs? Is that it? Will it help if we tie ribbons around trees? "Provide access to fresh fruits?" Subsidized home visits from Clipboard Ladies?
Quick! Someone call "Behavioral!"
*
...and here I thought they were just vicious sheisters who belong in jail, left running free to pull off another huge swindle.
"Mr. Davis one of the partiers at Valerie Jarrett's daughter's wedding last summer."
--11/03/2012 01:04:00 AM
Look at this. It'll make you dizzy.
https://en.wikipedia.org/wiki/Valerie_Jarrett
they set this realties up so they can go "bust"
they just keep borrowing on some "beat" properties and then "fold"
declare bankruptcy and start the cycle again with a different CEO CFO
COO's usually a unknown distant relative or a friend that is under the radar in the meantime someone is
stuck with a property that needs to be torn down and sit till some one thinks of it again
you can buy some houses for 5,000 complete but you have to put 50,000 + in to make it livable and then be stuck by section 8 wildlinks who will snort smoke shoot or drink your $ anyways so it's 100% loss for any loan company
"Pretty much what the entire political leadership in Chicago is trying to pull with this "business partnership" krap.
--11/03/2012 12:26:00 AM
Such a good comment I can only get part of it now --
"Black/hispanic activists" are literally SCREAMING, shrieking on TV about Emanuel scheme to close 100 schools and hand them over to charters.
It must be said that they are themselves insanely unreasonable -- they have been going for WEEKS, SCREAMING because a large, underused school building designed for 2,00 students only has 200, and they closed part of the building off to save money, heating, security, etc.
Everyone -- principal, teachers, students -- uses one entrance now.
Outrage!
"WE HAS TO USE THE BACK DO!"
Well, excuse us for not unrolling a red carpet, having a color guard and guys blowing trumpets there to herald Your Arrival.
That being said, Emanuel is using the "school closing" threat to --
A. hand over schools to the hispanoradical La Raza "charter" movement (while the revs just stand there, too busy talking up the choir ladies to grasp the racial power play that they're losing again) and --
B. to invite "corporate donors" to increasingly take over ed-u-cay-shun.
Win/win for clout and contractors and "social engineers," lose/lose/lose for everyone else.
"...you can buy some houses for 5,000 complete but you have to put 50,000 + in to make it livable and then be stuck by section 8 wildlinks who will snort smoke shoot or drink your $ anyways so it's 100% loss for any loan company..."
--11/03/2012 02:32:00 PM
Not to worry -- the new middle class is leaving China for fear of repression and assets confiscation, buying green cards as "tech workers" and coming here -- in Irvine, Calif. they have been buying up 50 TO 100 HOUSES AT A TIME with hard cash.
Say hello to your new masters.
http://www.deathbychina.com/
"...a large, underused school building designed for 2,00 students only has 200..."
--11/03/2012 02:34:00 PM
Oops. "...designed for 2,000 students only has 200..."
"...Before Christmas you will see the Illinois Political Combine at work..."
--11/03/2012 10:00:00AM
Great comment. Here, how Emanuel and friends are covering all the exits --
http://www.articles.chicagotribune.com/2012-10-01/news/ct-met-republican-money-managers-20121001_1_shape-illinois-politics-reboot-illinois-aragon-global-management
http://www.communities.washingtontimes.com/neighborhood/bill-kellys-truth-squad/2012/oct/3/rahm-
emanuel-donors-buying-illinois-gop-griffin/
..and here is our next Combine "Republican" governor.
"Bruce Rauner, the civic-minded private equity executive who has been mentioned as a potential Republican candidate for Illinois governor, is retiring from GTCR, one of Chicago's biggest private equity firms, where he was managing director.
"Rauner has called questions about a bid for governor unproductive "speculation." He has made nearly $1.7 million in state and federal political donations since 1998, campaign finance records show, including a sizable share to Democrats. In addition to contributions to Chicago Mayor Rahm Emanuel, Rauner gave $200,000 to former Mayor Richard M. Daley, $250,000 to current CTA head Forrest Claypool and a combined $65,000 to the Democratic National Committee and the Democrats' congressional campaign committee.
"Rauner has said he talks to Emanuel "all the time on a lot of topics" and was appointed by the mayor to the city's economic development and job creation council..."
http://articles.chicagotribune.com/2012-10-19/business/chi-managing-partner-rauner-retires-from-gtcr-20121018_1_gtcr-collin-roche-bruce-rauner
Anonymous said...
Why the hell would our pension board allow our money to be invested in any crooked business here in chicago? They must be paid for by daley's crook friends to allow that crap to go on. No cop would ever approved those funds to be allocated like that. Where the hell do we keep tabs on shit like this because officers need to know who's doing what with their money.
11/03/2012 12:19:00 PM
Our pension board is packed with Daley appointees. They can carry any vote they want.
What really bites is OUR rep on that board, Steve Robbins at the time, voted FOR the Davis-Vanecko DV Urban Partners and then had the balls to go to an FOP General Meeting and defend the deal with DV as a good investment.
I never heard of Vanecko at the time and had just learned that Vanecko was a nephew of Daley's. By that time it was a done deal. That is how is usually goes, those not in the know find out way too late about the fucking they just took.
Off with their heads.
This has nothing to do with Barack. Daley stole billions, in your face , drank your beer and you kissed him afterwards. Get real. Daley, blago, and ryan did you in. So the blame goes back years and years. Stop bitching.
Why is there no RICO investigations going on in this city,county and state. Lets call it what it is....organized fuckin crime. Same shit going on in everything you look at. Their hands are stealing from everywhere.
Somehow...
Lynching seems to be the only cure for these assholes trying to do their best to make sure Coppers are numbered among the losers since the winners have already been chosen...
Since when did flat-out stealing from Policemen become such a popular spectator sport in Chicago?
Someone please ask Hauser what he was doing all these years while our pension fund was tanking. Why didn't he and the other reps ever think of suing to get the multiplier increased? In my opinion, he sat there and watched it happen. Don't vote for this guy. We need aggressive, fresh blood on the pension board.
Anonymous said...
It's called term limits dummy. No one should have a job for life. Not even a judge. Rotate them. Always vote NO for retention. New blood = new ideas. Just do your research to elect conservative NEW judges.
America
11/03/2012 09:21:00 AM
I went to traffic court once at least 20 years ago and we had a visiting judge from Southern Illinois. What a refreshing change! This guy was obviously in the corner of the police! Great to see sworn testimony believed by that judge and he was convicting people left and right and did not believe all the bullshit lies from the democrats.
Great day in traffic court. Unfortunately it was back to normal the next time. Lies and cut everyone loose. Gradually I slowed down on traffic enforcement until this year when I wrote one mover. All year. And that guy beat it, of course.
I retired two weeks ago and feel great about it! I do not miss the bullshit one little bit.
Stay safe.
Anonymous said...
This has nothing to do with Barack. Daley stole billions, in your face , drank your beer and you kissed him afterwards. Get real. Daley, blago, and ryan did you in. So the blame goes back years and years. Stop bitching.
11/03/2012 08:41:00 PM
No Barack is pure as the driven snow. It's just an amazing coincidence about his real estate fairy Tony Rezko.
Vote Romney/Ryan to turn off the insiders money spigot (your tax dollars) from DC.
I never heard of Vanecko at the time and had just learned that Vanecko was a nephew of Daley's. By that time it was a done deal. That is how is usually goes, those not in the know find out way too late about the fucking they just took.
Off with their heads.
11/03/2012 07:36:00 PM
Are shitting me ?!!!
They got witnesses and evidence of purgery and still can't nail his brother with murder !
Do you actually think they going to get HIM for stealing a few million dollars from the " lazy fucking coppers " !!
If the whole Daley clan died of apoplexy tonight, then I'd say maybe we'd see a dime of that stolen pension fund cash
Allison Stubbs Davis was Obama's boss at the law firm he briefly worked at after law school.
These guys are all connected.
>>>...We hope the FBI is keeping close tabs on where the money is going on this latest Prentiss Women's Hospital thing.
11/03/2012 12:28:00 AM<<<
I doubt it. The vaunted FBI produced Jody Weis (R.I.P. Joe Airhardt), never got Richie Daley or any other major Democrat except Blago and that because what he was doing threatened the Messiah.
What happen with the Michael Reese Hospital money?
"I went to traffic court once at least 20 years ago and we had a visiting judge from Southern Illinois. What a refreshing change! This guy was obviously in the corner of the police! Great to see sworn testimony believed by that judge and he was convicting people left and right and did not believe all the bullshit lies from the democrats."
--11/04/2012 01:38:00 AM
Was that Judge Brocton "Brock" Lockwood? He is a trip.
The Daleys should all be in the Federal Pen!
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