Legal Spat Erupts Between Owners of River North Building

CHICAGO-A River North five-story building is about to be foreclosed due to a legal quarrel between its owners.

By GlobeSt News Hub | Updated on November 29, 2010

CHICAGO-A River North five-story building is about to be foreclosed due to a legal quarrel between its owners. The property’s owners filed a lawsuit in Cook County Circuit Court against the co-owner.

According to the lawsuit, an affiliate of Chicago-based Wells Street Cos. and its managing dealers, Stephen Muller and Arthur Holmer, have defrauded the U.S. Small Business Administration and Bank of America to obtain a loan of about $6.3 million for the property at 415 N. Dearborn St. For the full story, go to Crain’s Chicago Business.

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