CHICAGO-Ventures of Chicago-based Sedgwick Properties Development Corp. are involved in lawsuit with a lender on two condominium projects in South Loop. Amalgamated Bank of New York filed a foreclosure lawsuit in May and a complaint in June opposing Sedgwick's Marty Paris and the development venture regarding the $50-million construction loan the bank provided for Terrazio, a 180-unit complex at 1935 S. Wabash Ave.
An Amalgamated venture filed a foreclosure suit last month on Sedgwick's Marquee condo tower at 1454 S. Michigan Ave. For the full story, go to Crain's Chicago Business .
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