CHICAGO-The owner of some retail complexes spanning 65,000square feet in the Gold Coast and Lincoln Park, Fred Latsko hasagreed for a settlement in a foreclosure suit for $21 million. Thevacancy rate at the building rose to 20% in 2009 from below 3% in2004.
As per the agreement Latsko will pay $400,000 interest by theend of June 2011 and one of his ventures paid $1.7 million andremaining charges to avoid foreclosure of the property. Forthe full story, go to Crain's Chicago Business.
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