Lender Files Foreclosure Suit on Evergreen Plaza

By GlobeSt News Hub

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EVERGREEN PARK, IL-Evergreen Plaza, a 766,000-square-foot enclosed mall at 9500 S. Western Avenue in Evergreen Park, is facing a foreclosure lawsuit from its lender, which also placed the property's past-due loan worth $20 million for sale. The mall failed to repay its debt payments since 2009.

CB Richard Ellis handles the marketing of the loan. It markets the site spanning 30.2 acres as a redevelopment project. The occupancy rate of the mall is 62%. For the full story, go to Crain's Chicago Business .

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Categories: Midwest, Distressed Assets, Sales, Chicago