Chicago Hotel Indigo Faces Foreclosure
From ChicagoRealEstateDaily.com:
Hotel Appraised at Half its Original $35-Million Value
The turnaround of the local hotel market came too late for Hotel Indigo in the Gold Coast, which has been hit with a $27-million foreclosure lawsuit. The owner of the 165-room property, an investor group affiliated with Chicago-based Neighborhood Development Corp., stopped making its monthly loan payments back in January, according to the complaint, filed last week in Cook County Circuit Court. Click here for the full story.
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