CHICAGO-Wells Fargo Bank NA, based in San Francisco, is poised to take hold of a Michigan Avenue office building after filing a $103-million foreclosure lawsuit nearly six months ago. Last week, the bank succeeded at a sheriff's sale of the 349,409-square-foot building at 625 N. Michigan Ave. by making $90 million in credit bid.
Wells Fargo will seize the 27-story tower after a Cook County judge approves the sale. In March, the bank filed a foreclosure suit against the owners for defaulting on a loan. For the full story, go to Crain's Chicago Business .
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