Inside How A Government-Seized Commercial Building Gets Sold
When Xiao Hua “Edward” Gong was arrested and tried for running a pyramid scheme and laundering money, the U.S. government seized his American properties. Among the millions of square feet are some eye-catching commercial real estate, like a huge Detroit-area hotel, an even-bigger former factory and a majority share of a historic office building in Downtown Chicago. Those assets are going on the market now, and the seller is as reliable as they come. “With government-owned assets, the properties are definitely going to sell,” Real Look Vice President of National Development Justin ...
Source: bisnow.com