Wednesday, April 22, 2009

"North Side Developers Face $11 Million In Foreclosure Suits"

(Crain’s) — A Southern California bank has sued to collect more than $9.5 million on seven vintage North Side apartment buildings owned by developers Charles Mudd and Steve Golovan of Chicago Graystone Realty LLC.

Chicago Graystone and an affiliated construction firm, Castlebar Enterprises Inc., have been active rehabbers of apartment properties in addition to building new developments totaling about $1 billion since 1989, according to Graystone’s Web site.

[...] The other six properties in the First Bank of Beverly Hills foreclosure cases are:
• A six-unit building at 1135 N. Damen Ave. in West Town.
• A three-unit building at 1765 W. Armitage Ave. in Logan Square.
• A 10-unit building at 1100 N. Western Ave. in West Town.
A 15-unit building at 4701 N. Malden St. in Uptown.
• A 20-unit building at 1626 W. Lunt Ave. in Rogers Park.
• A 16-unit building at 4857 N. Paulina St. in Uptown. Read the entire story here.


  1. Small world: Chuck Mudd shares an office with Bill Moran in 1333 N Kingsbury, downstairs from Holsten World HQ.

    $1,000.00 12/12/2005 to Citizens for Shiller
    $500.00 12/12/2005 to Citizens for Shiller

    yes, that's same day 2-fer, broken up into under-the-radar sizes

    $1,000.00 6/6/2003 to Citizens for Shiller
    $1,000.00 3/1/2001 to Citizens for Shiller

  2. Castlebar Operating Trust Account
    2636 N Lincoln Ave
    Chicago, IL 60614

    $500.00 10/7/2005 to Citizens for Shiller

  3. Active Equities L.L.C.
    2636 N. Lincoln Ave.
    Chicago, IL 60614
    Charles Mudd and Steve Golovan, owners$1,000.00 2/12/2007 to Citizens for Shiller

    $1,000.00 11/4/2002 to Citizens for Shiller

  4. Golovan was also the developer of the TIF-subsidized project called The Atelier in Edgewater, a tear down of a gas station for condos. Located on the SW corner of Bryn Mawr and Sheridan, across the street to the west from the Edgewater Beach Hotel. It is the former site of the Amoco station, familiar to locals as the "last chance gas" before getting on Lake Shore Drive southbound (PIN 14-08-202-009).

    The property is in the Bryn Mawr Broadway TIF. The City used eminent domain to take it from Amoco, then sold the 22,500 square feet of land across from the lakefront to Golovan for a cool $1.05M, less than $47/sq. ft.

    The 38 luxury condos were brokered by former 48th ward alderman Marion Volini.

  5. Hugh, do you secretly work for You certainly do explore the circles of influence! You rock!

  6. I live on the Leland side of this building, and as this was news to me, I emailed our property manager to find out what this means for tenants and received the following response:

    "This only affects the ownership group and not the tenants. Your leases will still be good, however, the ownership and management may change. Either way, you will be notified of any changes to come, in advance. Thank you."

  7. All crooks. There all crooks. I like to know what Schiller does with all her donations and the favors she does to get them. She needs to spend some of it on the health and safety of Uptown....

  8. It's common practice for business to contribute to all candidates/major parties.

    Not to say that makes it any better...maybe just less sinister...still an ongoing problem with the status quo at all levels of government.

    Have these guys contributed to any of Shiller's opponents. Has anyone checked that?

  9. Mr. Mudd didn't give money to Mr. Cappleman's campaign, but he did give large amounts to the Republican State Senate Campaign Committee.

    Odd though that Mr. Mudd would give to 2 very different causes. Could it be that sometimes he's a socialist and sometimes he's a Republican? I wonder.

  10. a dollar a day keeps the building inspector away

  11. Leland & Malden?
    Wow that's the corner with all of the hookers and crack heads that I call 311 and 911 about every single DAY!

    Perhaps someone will purchase these buildings and clean them up. I for one am tired of seeing hookers every evening (I work late and come in in the A.M.)

  12. Nash...the hookers are from the building next door to the one referenced here ...Miriam Apartments, an SRO seen in the picture to the left. They stand on the street corner in front of the building shown, but do not live at the building being talked about here. It is mostly college kids and young working professionals that live in the apartments of this building (on the Malden side).

    The Miriam Apt. hookers are often joined by visitors/residents/
    gangbangers from the buildings on the southeast and southwest corner of Malden and Leland, one of them being owned by JPUSA.

    The remaining corner building at Malden and Leland (northwest corner) are condominiums.