Vs.1 and 2
Time for another bit of speculation, notice that it says “as they journeyed from the east”. If they had journeyed from the East from what is now called Mt. Ararat where everyone is looking for the Ark, then they would have ended up in modern day Turkey. It is possible that they journeyed TO the East and then FROM the East then they might have ended in Shinar which is modern Iraq.  My opinion is the Ark is in the mountains somewhere between Iran and India on the highest mountain ranges on the planet, if it is anywhere.
Vs. 3-9
They ended up in the land of Shinar and decided to build a tower “lest we be scattered abroad upon the face of the whole earth.”  Remember God had told them to fill the earth not create mega cities. God was not happy and said “Behold, the people is one, and they have all one language; and this they begin to do: and now nothing will be restrained from them, which they have imagined to do.”  These figures may not be correct but to the best of my memory it is said that knowledge doubled about every 1000 years or so up until about 1850. After this it began to double at a much greater rate until now it doubles about every 18 months. The main reason is that we live in a world where people keep records and share information across the planet. In years past someone in China may discover gunpowder and until Marco polo comes along centuries later and takes the idea to Europe it is nothing more than a sky rocket. In Europe however someone gets the idea to turn it into a way to propel a ball through space and a cannon is born. Did you know that they have discovered crude batteries from the time of the Babylonians, a mechanical computer from the time of Cesar, and a steam engine toy from about the same time? If there was a sharing of knowledge and a level of education that we have now who knows but that these discoveries would have pushed the industrial revolution back 1800 years. As God said “and now nothing will be restrained from them, which they have imagined to do.” And now we live in a time where that seems to be true. What was science fiction a few decades ago is now common occurrences.  God separated people for a reason because of His wisdom not because of anger.  
8.  So the Lord scattered them abroad from thence upon the face of all the earth: and they left off to build the city. 9.  Therefore is the name of it called Babel; because the Lord did there confound the language of all the earth: and from thence did the Lord scatter them abroad upon the face of all the earth.
Vs. 10 -25
The descendants of Shem to the father of Abram who became Abraham.
Vs. 26-31
27.  Now these are the generations of Terah: Terah begat Abram, Nahor, and Haran; and Haran begat lot.
Abram we know, Nahor we don't know much about but he does resurface later in Genesis, and Haran was the father of Lot.
In verse 31 Terah, Abram and Sarai his wife and Lot leave Ur of the Chaldees and settle in Haran, which interestingly enough is the name of Lots father who had died. Perhaps Terah founded the city and named it after his son. This is where Terah lived until he died.

If any of you would like to read a long study on Abraham that was done several years ago you can find it at my site under the bible studies section.