CHICAGO-The owner of an office building in the Loop has been hit with a foreclosure suit. A complaint filed in Cook County Circuit Court in February revealed that the venture that holds the 23-story structure at 105 W. Madison St. has not made monthly payments on its $12.5-million mortgage last June.
The loan was issued in 2006 and will mature in 2016. The outstanding loan balance is $12.7 million. Last August, the loan was moved to special servicer LNR Partners LLC. For the full story, go to Crain's Chicago Business .
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