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But JMB's fortunes--and Bluhm's--rose again in the dramatic recovery of the market that began a year later.
FORBES: Rebuilding His Fortune
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Next, take Walton Street Capital, a real estate opportunity fund Bluhm formed when JMBbottomed out in 1995.
FORBES: Rebuilding His Fortune
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Make no mistake, Bluhm said: GM remains committed to building a Cruze diesel in Lordstown beginning sometime next year.
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Carolyn H Bluhm is the Community Relations Specialist for the City and County of Denver, Office of Emergency Management and Homeland Security.
WHITEHOUSE: Carolyn bluhm | The White House
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Bluhm is in a joint venture with the Pritzker family's Hyatt Development Corp. to build a casino on the Canadian side of Niagara Falls.
FORBES: Rebuilding His Fortune
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Like his flashier contemporary, Donald Trump, Bluhm, 62, was one of the handful of men who made it big in the notorious 1980s real estate boom.
FORBES: Rebuilding His Fortune
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"It sounds kind of drastic, but initially people need to be coerced into making changes, " says Dr. Liviu Klein, cardiology fellow with the Bluhm Cardiovascular Institute, Northwestern University Hospital.
FORBES: Magazine Article
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Bluhm owns valuable homes and has an art collection.
FORBES: Rebuilding His Fortune
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It was formed in 1993, when Bluhm sold the public a 61% stake in JMB's collection of lucrative shopping malls--among them landmarks like downtown Chicago's Water Tower Place and Boston's Copley Place.
FORBES: Rebuilding His Fortune
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Even Bluhm, who did take a thrashing in the last downturn, has restored his reputation as a shrewd buyer whose investments in the 1980s held up far, far better in the long run than anybody expected.
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How did Bluhm bounce back?
FORBES: Rebuilding His Fortune