CHICAGO- First Commercial Bank has filed foreclosure lawsuits demanding more than $3.5 million against a 24-unit project on the 800 block of North California Avenue, constructed by JPV Development Group Inc.
The bank claims that the developer failed to repay a loan amount of $4.9 million due in April 2010. The bank intends to foreclose the development, which comprises four completed buildings, a partially built six-unit project and vacant land where the final condominiums would be constructed. For the full story, go to Crain's Chicago Business.
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