The Price of Foreclosure: The Owners

The Price of Foreclosure:  The Owners

According to public records at the Cook County Clerk of the Circuit Court, seven people owned two or more units in the 4725 South Michigan Condo Association.
Those seven individuals, Ronald Allen, John Welch, Amanda Fanaro, Justin Daugherty, Kristin Daugherty, Lindsey L. Haake & Chloe Niems, account for 26 properties that are being foreclosed upon.

Then I noticed something odd.

The records of the Cook County Assessor's office listed 28 units for the 4725 South Michigan address.

Now it's quite possible that the association has more than one address---many associations do.  Yet when I went back to double check my research two additional foreclosure lawsuits surfaced for the 4725 address.

I spoke to a legal acquaintance who suggested that the additional lawsuits might be for limited common elements such as parking spaces.  Which makes sense because when I was poking around in the records of the Cook County recorder of deeds I found PIN numbers (property index numbers) that weren't within the range of PIN numbers for the 4725 S. Michigan address provided by the assessor's office.

Does that possibly mean that 4725 South Michigan is not the only address for that association?  Does it possibly mean that parking spaces were assigned PIN numbers? Hopefully a site visit will answer those questions. 

Then I noticed that some of the notations on a few of the electronic versions of the file stated "Compliance with predatory lending." 

Another file had the United States Attorney as the attorney of record.

The basic search turned up some interesting records but it was time to make a trip to the clerk's office to take a look at the files, their contents and the allegations. 


Leave a comment