"Dantis might resolve the issues they're trying to address or a purchaser for the property might be found," James E. Spiotto, an attorney for CIT Lending Services Corp., tells GlobeSt.com. "There might be a way to resolve this."

Minnetonka, MN-based Dantis USA cut 50 employees, more than 25% of its staff, earlier this year along with cutting back on its business plan and seeking $40 million in private equity. Putting its operation center on the market, which it bought in 2000 from a joint venture of Sterling Bay and Montero Partners, also was part of its restructuring effort.

However, Dantis USA also defaulted on its mortgage by failing to pay commitment fees and other expenses required by the loan agreement as well as allowing mechanic's liens to be filed against the property, according to a lawsuit filed in Cook County Chancery Court. Twelve vendors also are named in the foreclosure action. With the $180,618 commitment fee as well as interest and attorney's fees, CIT Lending Services was seeking more than $16.8 million as of June 1.

Spiotto says the $16 million mortgage is "one of a number of financial relationships CIT has with Dantis." He notes the case includes subcontractor issues as well. Aetna Engineering World, Inc.; Alca, Inc.; Air Products Equipment Co.; Competitive Piping Systems, Inc.; Cornerstone Architects, Ltd.; FCL Builders, Inc.; Interior Investments, LLC; James H. Anderson, Inc.; Mertes Contracting Company of Chicago; Midland Data-Electric Installation Co.; Nova Corp. and Siemens Building Technologies, Inc. are listed in the foreclosure suit.

According to Cushman & Wakefield listing information, the building includes "substantial telecom infrastructure build-out."

Dantis and Cushman & Wakefield officials were unavailable for comment.