By Colleen Lobner(Crain’s) — Developer John Terzakis, who is in a California jail awaiting trial on federal charges, also faces foreclosure on an Uptown strip center.
American Chartered Bank is seeking $6.7 million from Mr. Terzakis, alleging a May 11 default on a loan on the 61,375-square-foot center at 4849-4883 N. Broadway St., according to a complaint filed May 25 in Cook County Circuit Court.
The complaint was filed nearly six months after Mr. Terzakis was indicted by a federal grand jury on charges that he and a partner in a California company called Vesta Strategies LLC defrauded investors of $25 million. Continue Reading
This Stip Mall seems leased up and well maintained.
ReplyDeleteMy guess is this guys problems extend way beyond the Broadway Property.
Let's hope the new owner maintains and upgrades it as it ages.
Is this the strip mall where Game Stop is located?
ReplyDelete