The complete guide to Chicago's condo collapse

Crain's Chicago Business reports:

As the downtown condo market crashed, developers from North Avenue to Motor Row were stuck with thousands of unsold units—and bad debt up to their penthouses. At least four in 10 downtown condo projects proposed or under way five years ago wound up in financial distress, according to a Crain's analysis that for the first time shows the full impact of the recession on residential development in the city's core.

Ouch.