ST. CHARLES, IL-A $24.8 million foreclosure lawsuit has been filed by loan servicer CWCapital Asset Management LLC against Main Street Commons, a shopping center located at the Kirk Road and Main Street in St. Charles. A venture managed by Covington Realty Partners based in Chicago is the owner of the 171,648-square-foot retail property. The venture didn't pay its monthly loan payments from March 2011.
Covington purchased the property for $32 million in 2006 using a $24 million loan from Wachovia Bank N.A. For the full story, go to Crain's Chicago Business .
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