Saturday, November 14, 2009

Good News For Leland Slum Building?

The shuttering of Mutual Bank has far-reaching tentacles. Seems the new owner, a Texas bank, is trying to clean things up in the loans and assets departments, and has foreclosed on a corporation owned by Sam Alexander.

Mr. Alexander may be a familiar name to Uptowners. He and/or his company is the owner of the gorgeous but dilapidated vintage building at 1001-1017 West Leland, which has been in Housing Court for six years due to serious code violations. By order of the court, the building has been declared uninhabitable and the only tenant is Siam Noodle. 23rd District officers, civilian employees and court advocates have been attending court hearings on this property for years and have even testified as to the condition and security of the building.

According to an article in Chicago Real Estate Daily, the new owner (the bank that's trying to clean up Mutual Bank's mess) is trying to collect in excess of $682,000 owed on the building.

We think this property is an Uptown treasure and hope it gets the attention and TLC it deserves. Any interested developers out there who are up for a challenge?


  1. I wish the previous owners didn't destroy so much of the terra cotta on the building!!!

  2. I don't even see any building that looks vintage when I street viewed it. I'm new to Chicago but love the vintage buildings. The architecture is amazing...So did the previous owners just remodel it completely?

  3. Also Mutual bank invested in Vetner who left 5411 Winthrop in the wind, still in building court.