Foreclosure Lawsuit Filed Against Algonquin Commons
The lawsuit against the 565,000 square foot property is one of the largest foreclosure suits in the Chicago area in recent history, according to Crain's Real Estate Daily.
A foreclosure lawsuit has been filed against Inland Real Estate Corp. for allegations that the Oakbrook-based company stopped making payments on two separate Algonquin Commons shopping center loans last summer, according to media reports. U.S. BANK N.A. filed the foreclosure suit in Kane County Circuit Court in December, seeking repayments of two loans totaling $109 million, according to the Daily Herald. The Daily Herald reports Inland officials cited in the court filling ongoing vacancies and certain leases that "allowed some tenants to reduce their monthly rents" as a source for its financial woes. The Chicago Business Journal reports the lawsuit filed against the 565,000 square foot property is one of the largest foreclosure cases …
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McCloud
7:59 am on Saturday, January 26, 2013
The President and Secretary of State are liars, there are still 23 million unemployed people, GDP is at 1%, our debt will mushroom to 25 trillion in no time, and their answer is WHAT DIFFERENCE DOES IT MAKE. more ›