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LINCOLNWOOD, IL-First Midwest Bank, the lender on the Purple Hotel, has filed a foreclosure suit against the owner of the hotel at 4500 W. Touhy Ave. in Lincolnwood. The owner, a venture headed by Donald Bae of Skokie, has previously lost one legal conflict with the village of Lincolnwood regarding the demolition of the building.

Now, the lender has filed the $4.2-million foreclosure lawsuit on the 293-room hotel. First Midwest filed the suit with the Cook County Recorder of Deeds on April 26.For the full story, go to Crain’s Chicago Business.


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