Wrigleyville Hotel Project Faces Foreclosure
From Chicago Real Estate Daily:
Mixed-Use Plan Would Have Included Hyatt Place Hotel
The developer of a proposed apartment/hotel project next to Wrigley Field [in Chicago] is trying once again to fend off a foreclosure suit from Bank of America Corp., hoping that a new loan from another lender will get him out of his latest jam. The bank sued a venture led by Steven Schultz last month, alleging that venture owes it $8.9 million after it defaulted on loans secured by a row of properties on the 3500 block of North Clark Street. The loans matured Aug. 5, according to B of A's complaint. Click here for the full story.
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