CHICAGO-An investor has seized a failed condominium development on West Monroe Avenue for just above $5 million. A venture headed by Elizabeth "Lizzie" Kaplan bought the 15-unit condominium project at 1004-14 W. Monroe Ave.
The developer of the project obtained about $7.2 million in loans in 2007 from First Chicago Bank & Trust for the project. When the project stalled in 2009, the developer handed over the project to the lender. The development, located east of the United Center, is currently fully leased. For the full story, go to Crain's Chicago Business .
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