2. The Suburban Chicago Residential Market -- An Overview -- Presented by G. Tracy Cross President, Tracy Cross & Associates, Inc. September 20, 2012

4. New Home Sales 2004 1,203,00031,843 Year-Over-Year+10.6%+13.1% 20051,283,00033,287 Year-Over-Year+6.7%+4.5% 20061,052,00025,105 Year-Over-Year-18.0%-24.6% 2007776,00015,377 Year-Over-Year-26.2%-38.7% 2008485,0006,361 Year-Over-Year-37.5%-58.6% 2009374,0003,552 Year-Over-Year-22.9%-44.2% 2010322,0003,101 Year-Over-Year-14.1%-12.7% Variance From 2005-74.9%-90.7% 2011305,0002,932 Year-Over-Year-5.3%-5.4% Variance From 2005-76.2%-91.2% 2012358,000 (2) 3,196 Year-Over-Year+17.3%+9.0% Variance From 2005-72.1%-90.4% U.S. (1) Chicago (1) Single family home sales. (2) Seasonally adjusted, annualized rate YTD June. Source: Tracy Cross & Associates, Inc.

5. Trends in Production New Home Sales by Product Type Total Sales (SAAR) Note: DeKalb County, IL and Kenosha County, WI included starting 2nd Quarter 2003. Source: Tracy Cross & Associates, Inc.

6. New Home Sales Chicago Region -- Suburban Area --

7. Total Sales (1) Seasonally adjusted, annualized rate YTD June. Source: Tracy Cross & Associates, Inc. New Home Sales Chicago Region -- Suburban Area -- (1)

8. Source: Tracy Cross & Associates, Inc. Northern Corridor Northwestern Corridor Western Corridor Southwestern Corridor Southern Corridor City of Chicago DeKalb County, IL Kenosha County, WI McHenry County Kenosha County, WI Northern Lake County South Central Lake County North Shore Near North City of Chicago Southern Corridor Southwestern Corridor Eastern DuPage County/ Western Cook County Southwestern DuPage County/Aurora/ Kendall County St. Charles/ Batavia/ Geneva DeKalb County Northern DuPage County Arlington Heights/ Palatine/Wheeling Schaumburg/ Hoffman Estates/ Streamwood/Elk Grove Village Northern Fox Valley The Chicago Region’s 17 Representative Submarkets

9. Single Family Sales Trends by Area 2005, 2011, and 2012

10. Per Project Sales Rates – The Single Family Sector -- Suburban Chicago -- (1) Seasonally adjusted, annualized rate YTD June. Source: Tracy Cross & Associates, Inc. Average Annual Sales by Development (1)

11. Suburban Single Family Sales Leaders -- YTD June 2012 --

12. Townhome/Condominium Sales Trends by Area 2005, 2011, and 2012

13. Townhome/Condominium Sales Trends -- The New Construction Sector – Suburban Chicago -- (1) Total Sales

14. Moderate Density Condominium Sales Trends -- The New Construction Sector – Suburban Chicago -- (1) Total Sales

15. Suburban Attached Sales Leaders -- YTD June 2012 --

16. New Construction Home Sales By Public And Private Companies Percent Capture Public Builders (Line) Total Sales Region (Bar) (1)

18. The Suburban Rental Market -- An Overview -- “Not all households like these choose to live in the city.”

19. Rental Apartment Vacancy Trends -- Suburban Chicago -- All Communities (1) Percent Vacant (1) As of June. Source: Tracy Cross & Associates, Inc.

20. Average Monthly Rent (Bar) Source: Tracy Cross & Associates, Inc. Rent Per Sq. Ft. (Line) (1) As of June 2012. (1) Monthly Rent Trends -- Suburban Chicago -- Post 1985 Rental Communities

21. Rent/Value Analysis – A Composite Summary -- Suburban Chicago Apartment Communities --

22. Rental Apartment Absorption Trends -- Suburban Chicago -- (1) Net Absorption in Units (1) Annualized pace for the first six months of the year. Source: Tracy Cross & Associates, Inc.

23. Some Final Comments