CHICAGO-Harris Bank N.A. has filed a foreclosure lawsuit for its $7 million construction loan utilized to refurbish an office building located at 1033 W. Van Buren Street in Chicago. Phil Stefani, who runs restaurants, Tavern on Rush and Riva on Navy Pier, holds 65% stake in the 84,000-square-foot building.
Keith Lord, who serves as Managing Partner and President at Lord Cos., holds the remaining stake in the building. The owners failed to repay the loan.For the full story, go to Crain's Chicago Business.
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