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Deal threatens pension fund co-managed by Daley nephew - Sun-Times - 5/28/2009

May 28, 2009

Developers are foundering in attempts to build a Dominick's-anchored condominium development in Lake View, a deal that threatens public pension money from a fund co-managed by a nephew of Mayor Daley.

The fund, DV Urban Realty Partners, pooled $7.9 million from five city pension funds to invest in the project at 3030 N. Broadway. The money was for a mezzanine loan, similar to a second mortgage, that the fund now says is in default.