Condo Project In Question Amid Financial Concerns
By Adeshina O. Emmanuel Jr. • July 10, 2009, Chi-Town Daily News
A developer who tore down a historic Uptown home and planned to build condos in its place has indicated he is in severe financial trouble, city officials say. Chris Byrne recently got a controversial zoning change approved, in a process that critics say lacked openness. The change paved the way for the condo project. Now, Byrne's financial status has raised questions about whether he could even proceed with the project at 4627 N. Beacon St. Read the entire article here.
And let me guess, Byrne will now sell the property to Chicago House and they will build an 8 unit building there. What a surprise....
ReplyDeletethe things these people do are so dirty!
ReplyDeleteThis trouble did not sneak up on them since the zoning change, it was public record at the time of the zoning change.
ReplyDeleteChristopher D. Byrne and wife Nuala P. Murphy had a $28,221 IRS lien slapped on them 5/11/2006 (doc 0614435253) which they just emerged from 6/07/2008.
The zoning changed helped increase the value of the property pre-sale. Byrne building condos was a story.
But, how convenient that Byrne had enough spare change to make a campaign contribution to Helen after the lien was imposed.
ReplyDeleteAnd how lucky for him that she returned it at a time when I'm sure he could use the money.
Is there any aspect of this deal which isn't dirty as hell?
Byrne's projects are littered with outstanding liens.
ReplyDeleteDover neighbors should have invited L. E. S. Heating and Cooling to the zoning hearing to respond to Byrne's fittness to develop 4627.
Byrne Bradley Corp
INVOLUNTARY DISSOLUTION 9/12/08
pres. Nuala
14-20-223-007
835 W BRADLEY
$45K doc 0807460127 lien $45K from LES
BYRNE MALDEN CORPORATION
INVOLUNTARY DISSOLUTION 10/1/03
pres. Chris
BYRNE MALDEN PROPERTIES II, INC. INVOLUNTARY DISSOLUTION 4/10/09
pres. Chris
14-17-103-019
4730 N Malden
$45K lien doc 0807460128 from LES HTG & AIR CO INC
BYRNE BELL, LLC
NGS Not in Good Standing as of 7/1/09
mgr wife Nuala (Murphy)
14-18-324-033
4016 N Bell
3 mortgages outstanding incl.
$2.35M from 2006
also $400K and $100K
and a $45K lien from LES
So if in fact the property is sold to someone else, wil the restricted covenant placed on the property at the time of the zoning change apply to the new owner?
ReplyDeletehttp://www.lakeeffectnews.com/lakeeffectnews/wp-content/uploads/2009/07/Recorded_Covenant11.pdf
My desire in all of this was to have had an open community process that provided people with the necessary information so that they could make an informed decision about their community. That was it. Any other argument for or against this project was superfluous in my opinion.
ReplyDeleteAld. Shiller claimed that community input was obtained by the signed petitions presented to her by the developer. I don't call that community input and that's where we disagree.
In my opinion, the whole purpose of the current zoning was to prevent the very thing that happened. Now that it's done, by all means the focus needs to be on making the best of a very sad situation.