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CHICAGO-A venture, which owns an office tower located at 211 Waukegan Road in north suburban Northfield, has filed Chapter 11 bankruptcy petition in the US Bankruptcy Court in Chicago. Itasca Bank & Trust Co. filed a foreclosure lawsuit worth $2.9 million last fall on the three-floor building. The bank is requesting the bankruptcy court to permit its planned foreclosure sale.

The venture led by investor Sam Kabbani purchased the 24,771-square-foot building for nearly $3 million in 2008.For the full story, go to Crain’s Chicago Business.


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