CHICAGO-A trustee for investors of commercial mortgage-backed securities has filed a foreclosure lawsuit against a venture headed by Lloyd Stein, a Chicago-based furniture wholesaler, who failed to repay a $21.96 million loan on the 120,000-square-foot, four-story tower located at 1030 W. North Avenue since June 2010.
The venture took the loan in June 2004 and the loan matures in July 2014. Stein, who operates the office furniture showroom S. Stein & Co. in the tower, is in discussion with the lender to resolve the issue. For the full story, go to Crain's Chicago Business.
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