CHICAGO-D2 Realty Services Inc., a Chicago-based firm, whichowns a 1.6-acre undeveloped land close to four blocks south of theWillis Tower, has won a legal battle over $785,000 in earnest moneyagainst Chieftain Group, an Ireland-based developer. This rulingallows D2 to place its property on the market for sale.
In February 2008, an affiliate of D2 inked an agreement to sellthe asset to Chieftain Group for $20 million, which had planned toconstruct a $150 million mixed-use development. For thefull story, go to Crain's Chicago Business.
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