CHICAGO-A loan servicer has snapped up the Hotel Indigo, a 165-room hotel in the Gold Coast, after filing a foreclosure suit nearly two years ago. A Miami Beach, Florida-based LNR Partners LLC affiliate took over the hotel at 1244 N. Dearborn Parkway after a sheriff's sale that appraised the property at $17.8 million.
In October 2010, a $27-million foreclosure suit was filed against the property after the previous owner, a venture headed by Chicago-based Neighborhood Development Corp., failed to make loan payments. For the full story, go to Crain's Chicago Business .
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