The building business is often a family business, and second- and third-generation builders are not uncommon.

It's strikingly unusual, however, for partnerships between builder families to endure for any length of time. The Ruttenbergs and the Superas have partnered on various Chicago real estate deals for more than six decades. Mike Supera and Richard Zisook have built together since the mid-'60s. Buzz Ruttenberg and Mike Supera each have a son in the business, marking the third generation of each family in real estate. Richard Zisook is himself a third-generation builder and has a son-in-law in the business.

Join Joe Zekas for a brief conversation with Richard, Buzz and Mike about their history and the advice they'd give a buyer in navigating today's dicey real estate market.

In a sidebar to the article, attorney Mark Nora suggests that buyers "work with a qualified attorney, make sure you have title insurance from a company with sufficient reserves to handle claims and read the fine print."

Nora's advice is solid, but hardly ever considered by buyers or their attorneys. There are title insurance companies – and there are title insurance companies. The motto of one represented by my old law firm was said to be "We're in business to collect premiums, not to pay claims. So sue us. We appeal all adverse judgments."

Buyers and sellers are often steered to title companies that have special "arrangements" with brokers and attorneys. Some of those companies have a dismal history of honoring claims, and some of them lack sufficient reserves to pay more than a handful of sizable claims. You might think that the insurance company regulatory scheme provides you adequate protection – until you remind yourself that you're in Illinois.

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Along with that 70,000 square-foot terrace, buyers and renters at Aqua will both have full access to the indoor portion of the Shore Club, a two-story set of amenities including a pool, a 5,000 square-foot fitness center with cardio and weight training machines and a basketball half-court, a movie theater room, a game room, and a coffee bar.

The Tribune is reporting that Dempsey Travis, one of Chicago's most accomplished real estate developers, died in his home today, at the age of 89.

In the video above Dempsey Travis reminisces about his childhood and his mother, and talks about some of his philanthropic efforts. Many people today are saying about Travis what he said in this video about his close friend Mayor Harold Washington – "sincerely a good man, a legitimate, good man."

See more of our extended interview with Dempsey Travis, including a visit to his home, at our South Triangle playlist at YouTube.

More about Dempsey Travis in this Sun-Times article.

Looking to buy a West Loop condo this month? Willing to spend a Saturday afternoon at an information seminar about government-backed mortgages? If so, you might be able to swing a purchase of a home at Emerald, 123 S Green St, without paying a cent in closing costs.

Emerald's developers will cover the closing costs for anyone who buys a condo within 48 hours after attending an on-site seminar on July 18. The session, which starts at noon, will focus on Federal Housing Authority and Veterans Administration-backed loans and give buyers an opportunity to receive pre-qualification from Lincoln Mortgage and Funding Corp, Emerald's FHA-approved lender.

Emerald received FHA backing in May, and is one of four West Loop developments approved for government-insured mortgages, according to a media release from Senco Properties. More than 60 percent of the twin-tower project's 212 homes are sold and occupied by approximately 160 residents.

The media release doesn't offer an estimate, range or average for buyers' closing costs, but I should hear back from developers sometime soon and will pass along whatever information I receive.

According to a recent price sheet, Emerald's one-bedroom / one-bath units, which range in size from 765 to 900 square feet, are currently priced from the $270s to $380s, with monthly assessments of $225 to $265. Two-bedroom / two-baths with 1,250 to 1,297 square feet are priced from the $390s to $620s, with average monthly assessments of $345.

For more information about Emerald's FHA/VA seminar, call Daniel Delaney at 773-328-7636.

UPDATE: According to sales manager Joe Dupor, closing costs at Emerald tend to be 1 to 3 percent of a home's purchase price, meaning developers could pay approximately $2,700 to $8,100 in closing costs for the least expensive one-bedroom to $6,200 to $18,600 for the most expensive two-bedroom.

Related posts:
• Sales update: Property Consultants helping investors rent out Emerald condos (June 16)

Aqua's 70,000 square-foot Shore Club terrace is one of the largest — possibly the largest — residential recreation deck in Chicago. On the deck alone, condo owners and apartment tenants will have access to two pools, a hot tub, a one-fifth mile running track, grilling stations, linen-lined gazebos, and dozens of seats and tables for lounging.

On Monday, Loewenberg Architects project manager Todd Wendell guided me through Aqua's two amenity floors, starting with the terrace.

Buzz Ruttenberg, the developer of 600 Lake Shore Drive, is better known in some circles as a lover of art and a patron of artists. Join Buzz for a brief look at how he's sharing his passion for art with 600 Lake Shore Drive's residents.

1919 West Crystal in Wicker Park
Five of the nine condos in this new Studio Dwell-designed building at 1919 W Crystal St in Wicker Park (shown above) were placed back on the MLS last week. Three two-bedroom / two-baths with 1,633 to 1,725 square feet are now priced in the $560s to $570s, and two three-bedroom / two-baths with 2,125 square feet are listed in the $660s.

Prices in April had ranged from the $590s to the $730s.

The units have floor-to-ceiling windows with ceiling heights up to 20 feet; custom staircases with floating oak risers; white oak hardwood floors; kitchens with SubZero and Miele appliances, Caesarstone and granite countertops, and Arclinea cabinets; baths with limestone and marble finishes, and Hansgrohe, Duravit, and Toto fixtures; private outdoor terraces; and surround-sound wiring.

Sam Tarara of Koenig & Strey GMAC Real Estate has the listings.

2523 North Southport in Lincoln Park
Rich Kasper of Conlon Real Estate just listed all of the condos in this new six-flat (at right and below) at 2523 N Southport Ave in the Wrightwood Neighbors area of Lincoln Park.

The building’s two duplex-downs have three bedrooms and 2.5 baths and are both listed in the $770s. Two second-floor two-bedroom / two-baths are listed in the $470s, and two “penthouse” two-bedroom / two-baths with rooftop decks are priced in the $570s. When Jeremy toured the building in mid-June, the two-bedroom units ranged from the $490s to $590s.

Finishes include hardwood floors throughout; kitchens with Viking appliance packages; baths with steam showers, rain showers, and body sprays; and garage parking.

Luxhaven in Lake View
Another of Kasper's properties, Trianon Development's eight-unit Luxhaven (seen immediately below and at bottom) at 1740 W Cornelia Ave in Lake View, has six homes on the MLS, including four that have seen modest price reductions ($10,000 to $30,000) in recent days.

Available homes include two one-bedroom / one-baths priced in the $310s and $320s, two two-bedroom / two-baths priced in the $440s and $470s, and three three-bedroom / two-baths, two of which have rooftop access, priced from the $540s to $670s.

In April, when Mark Boyer toured Luxhaven with developer Jody Libman, prices ranged from the $330s to the $720s.

Features include island kitchens with 3-inch concrete countertops and 42-inch flat-panel cabinets; baths with natural stone floors and steam showers; and private balconies and terraces. Garage parking is included.

To round out my open house tours this weekend I headed up north to check out Phase I of EcoNorth, a 16-unit development at 1842 W Irving Park Rd in North Center. One of the area's few green developments, EcoNorth features ENERGY STAR-rated appliances, bamboo floors, dual-flush toilets, and a green roof (which you'll see isn't quite "green" yet). It's also right next to the Irving Park Brown Line stop.

Baird & Warner agent Mary Jaeger told me all of of the homes are corner units, and each has two bedrooms, 2.5 baths, and span 1,250 to 1,335 square feet. Prices range from the $390s to the $450s.

As you'll see from the video, not much progress has been made yet on the rest of the three-phase development, which is supposed to comprise 48 homes when finished.

Related posts:
• A first look at EcoNorth's furnished model (March 27)
• Concept vs. execution: Phase 1 of EcoNorth (Dec. 5)