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Commercial Real Estate Continues Its Descent in 2024

Commercial Real Estate Continues Its Descent in 2024
therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.

Simpsonville , Texas , United-states , Fairview , California , Brookfield , North-carolina , New-york , San-francisco , Paris , France-general- , France

Troubled Developer Paris Faces $26M Old Town Foreclosure

Troubled Developer Paris Faces $26M Old Town Foreclosure
therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.

Paris , France-general- , France , Cook-county , Illinois , United-states , River-forest , Chicago , Erie , Abbey-romanek , Utah-investment-group , Sedgwick-properties

Robert J. Lifka, Author at Oak Park

Robert J. Lifka, Author at Oak Park
oakpark.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oakpark.com Daily Mail and Mail on Sunday newspapers.

River-forest , Marty-paris ,

River Forest shuts down Lake and Lathrop as court appoints receiver

While some neighbors of the long-delayed and now stymied condominium development at Lake and Lathrop in River Forest were heartened that the village government pulled the project’s building permits Sept. 15, Marty Paris, the principal developer, told Crain’s on Monday that he remains confident he will complete the project.The 22-unit mixed use condo project has gone through multiple incarnations and developers and endless delays that have stretched well over a decade. Since spring Beverly Bank and Trust, a unit of Wintrust, has been in court seeking through foreclosure to claw back a portion of the funds it advanced for the development project. Earlier this month a Cook County court appointed a receiver to manage the property.River Forest’s village board had told Sedgwick Properties, Paris’ company, that it had until Sept. 15 to secure financing for the project or lose its construction permits. When the receiver was appointed, the village pulled the permits and, according to Crain’s, opened communications with the receiver. Cleaning up the periphery of the site – construction fencing, cracked sidewalks -- was the village’s first expectation of the receiver.

Phyllis-rubin , Louise-mezzatesta , Sedgwick-properties , Lake-lathrop-partners , Beverly-bank , River-forest , Marty-paris , Cook-county ,

Sedgwick Given Tight Deadline to Fix Troubled River Forest Project

Sedgwick Given Tight Deadline to Fix Troubled River Forest Project
therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.

Chicago-river , Illinois , United-states , River-forest , Chicago , Paris , France-general- , France , Ken-johnson , Pari-sedgwick , Phyllis-ruben , Erika-bachner

Long-delayed Lake & Lathrop project gets one more year

Like the proverbial cat with nine lives, the Lake and Lathrop condominium project in River Forest survived a vote by the River Forest Village Board Aug. 28 that could have resulted in the plug on the long-delayed project being pulled.Board members voted 4-2 to grant the developer, Sedgwick Properties, yet another in a string of building permit extensions. However, whereas the extension runs through Aug. 30, 2024, it comes with a series of conditions that must be met by Sept. 15. Trustees Erika Bachner and Katie Brennan voted against granting the extension.The project has been on life support since April when Beverly Bank and Trust, which is financing the development, filed suit against Sedgwick Properties. Through the lawsuit, filed in Cook County court, the Wintrust-affiliated bank is looking to claw back $4.2 million from the $20 million line of credit it issued in 2022. In the lawsuit, the lender has reportedly cited several provisions in its loan agreement with Sedgwick affiliates that were violated, including that the contract required the borrower to stay in compliance with local regulations and to stick to a tighter construction timeline.

Paris , France-general- , France , Katie-brennan , Cathy-adduci , Mark-mckinney , Respicio-vazquez , Lake-lathrop-partners , Sedgwick-properties , Beverly-bank , Trustees-erika-bachner , River-forest

Sedgwick Switches to $10,000 Rentals, Ditches Condos

Sedgwick Switches to $10,000 Rentals, Ditches Condos
therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.

Chicago , Illinois , United-states , River-forest , Tyson-schutz , Sedgwick-development-river , Beverly-bank , Sedgwick-development , River-north , Erie-street , Apartment-source , Marty-paris

Sedgwick Sued by Beverly Bank & Trust over River Forest Condos

Sedgwick Sued by Beverly Bank & Trust over River Forest Condos
therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.

Paris , France-general- , France , River-forest , Illinois , United-states , Cook-county , Chicago , Jameson-sotheby , Cory-robertson , Sedgwick-development , Beverly-bank

Annihilare Announces Patent Filed for Hypochlorous Disinfecting Wipes

/PRNewswire/ -- Annihilare Medical Systems Incorporated ("Annihilare") announced today that it filed a non-provisional patent application for hypochlorous...

Chicago , Illinois , United-states , Prnewswire-annihilare-medical-systems-incorporated , Medical-systems-incorporated , Marty-paris , Berry-global , Annihilare-corporate , Health-care-amp-hospitals- ,

Green Cleaning Company Showcases a New Generation of Clean

/PRNewswire/ -- 53% of cleaning products contain ingredients that can harm lungs. This can create an environment where indoor air can be two to five times more...

New-york , United-states , Boston , Massachusetts , Washington , Michael-oshman , Andrea-marcotte , Green-restaurant-association , New-york-times , Washington-post , Founder-of-the-green-restaurant-association , Cnn