CHICAGO-Metro Park LLC, a parking garage company based in Chicago, has purchased a residential and retail property in West Town in a short sale. The company paid $1.25 million for the Cobra Lounge building at 217-235 N. Ashland Ave.
FirstMerit Bank NA, a division of Akron, Ohio-based Akron, approved the short sale. In October, the bank filed a $2.3-million foreclosure lawsuit against the prior owner of the property, a venture headed by Steven and Michael Bahary. For the full story, go to Crain's Chicago Business .
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