* The WORST Real Estate Deal in the History of Rogers Park

In November, 2006, 10 months before the sale of Gateway Mall, DevCorp North claims they sold their 5% stake for a mere $75,188.

5% of $22,125,000.00 is $1,106,250.00. So DevCorp North tapped out at less than 7 cents on the dollar.

DevCorp North claims the sale closed 3 months before Moore stood for re-election, but the sale was not disclosed for 11 months, until October 12, 2007, until well after Moore was safely ensconced in office for his historic 5th term. DevCorp North's disclosure of the sale of their ownership interest in Gateway Mall was also their first public disclosure of their ownership interest in Gateway Mall.

DevCorp North, a taxpayer-funded delegate agency of the Department of Planning and Development of the City of Chicago, currently rents space from Moore campaign contributor Rich Aronson.

by Hugh, with full links.