CHICAGO-Walter Ascher, the developer of a 240-unit Arlington Heights condo conversion, has left with 39 unsold condos and now he doesn't want a $5-million foreclosure lawsuit to be filed against him by the lenders. According to a suit filed by Elgin-based Union National Bank, a venture headed by the Roselle developer has failed to pay a loan acquired by the 39 units.
The project, known as Ashton Condominiums, was launched in 2006 at 2400 S. Goebbert Rd. For the full story, go to Crain's Chicago Business.
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