CHICAGO-The 165-key Hotel Indigo at 1244 N. Dearborn Pkwy. in the Gold Coast is facing a $27-million foreclosure lawsuit, which was filed last week in Cook County Circuit Court.
The owner of the hotel, an investor group ventured with Neighborhood Development Corp., has not repaid the debt since January 2010 for its $27 million loan taken in 2007, which eventually led to a foreclosure suit. The property was valued at $18.2 million in April 2010. For the full story, go to Crain's Chicago Business.
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