CHICAGO-The former proprietors of a 200,000-square-foot office building in West Loop have sued a lender and their mortgage broker after failing to refinance the property. The venture that holds the 23-story structure at 205 W. Randolph St. claims that Chicago-based Bradford Allen Capital LLC mishandled the refinancing and defrauded the ownership group.
The venture wants Bradford Allen and Chicago-based Guggenheim Partners LLC, the lender, to repay $138,500 in fees and deposits. The litigation also seeks $5 million in disciplinary damages. For the full story, go to Crain's Chicago Business .
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