Nov. 10, 2010 at 12:01 a.m.
Filed under:
Housing,
Mortgages,
Real estate
By Mary Ellen Podmolik
A home with price reduction on the market in October. (Reuters)
The number of Chicago-area homes with negative equity in the Chicago area continued to rise in the year’s third quarter, a troubling sign for a local housing market struggling to recover.
Some 32.9 percent of all local single-family detached homes with mortgages were underwater in September, meaning the homeowners owed more on the loans than the properties are worth, according to new data from realty Web site Zillow.com. That compares with 30.9 percent in June and 27.2 percent in September 2009. The report does not include data on condominiums. Get the full story »
By Wailin Wong
A meal from Reza's Restaurant delivered to Tribune food critic Phil Vettel through GrubHub, Jan. 24, 2008. (Abel Uribe/Tribune)
GrubHub, the Chicago-based technology start-up that connects consumers with restaurants that deliver to their neighborhood, has raised $11 million in its third and largest round of venture-capital funding.
The company received the funding from Benchmark Capital, a Menlo Park, Calif.-based firm that has also backed companies such as restaurant reservation service OpenTable, review site Yelp and real estate site Zillow. GrubHub launched in 2006 and had previously raised $3.1 million in two rounds of funding from Origin Ventures, Leo Capital and Amicus Capital. Origin Ventures and Leo Capital are both based in Northbrook.
Matt Maloney, GrubHub’s co-founder and chief executive, said the company was looking for funding to expand into new cities and develop new products and features in areas such as mobile applications. Get the full story »
