Posts in category "Bronzeville"

For Profit Parties In A Non Profit Owned Building---Does Tragedy Have To Strike Before Something Is Done?

The parties at The Metropolitan are a disaster waiting to happen. Then of course I’ve felt that way for years—ever since the congregation that filled the former Metropolitan Apostolic Church moved to Bronzeville. This isn’t the first time I’ve written about the late night parties across the street from my building. Depending on the night,... Read more »

4725 South Michigan: Mortgage Fraud Alleged By The State

Someone took note of my posts about the 4725 South Michigan condo association and suggested that I do some more searching. So I did. The renewed effort did not disappoint. The State of Illinois alleges that several individuals and real estate professionals were attempting to defraud various lenders to the tune of 7.7 million dollars.... Read more »

The Price of Foreclosure: The Takeaway

The Price of Foreclosure:  The Takeaway
In my experience, an emerging trend with association failures is that a handful of people own multiple units.  When one or two of these individuals fall on hard times, the rest of the association tends to suffer. So the question is what can you do to protect yourself from buying into an almost certain nightmare?... Read more »
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The Price of Foreclosure: The Pictures

The Price of Foreclosure:  The Pictures
I went to hallowed ground in Bronzeville yesterday and didn’t even know it. On my way to snap a few pictures of the 4725 South Michigan building, I passed the imposing and still majestic Rosenwald apartment complex on the northwest corner 47th & Michigan. Despite years of neglect, she still stood proudly, waiting for the... Read more »

The Price of Foreclosure: The Impact

The Price of Foreclosure:  The Impact
A few individuals owning multiple units within the 4725 South Michigan Condo Association ultimately led to its demise. When an individual owns multiple units in an association and their financial picture sours, the association’s finances come tumbling down as well. If the association isn’t getting paid by one unit that’s challenging; not getting paid by... Read more »

The Price of Foreclosure: Unit 3C

The Price of Foreclosure:  Unit 3C
Unit 3C at the 4725 S. Michigan condo association has an interesting story.   As it was going through the process of foreclosure, the plantiff FCDB LBPL 2008-1, discovered that the deed was clouded with a lien from the U.S. Attorney’s office for the Northern District of Illinois.  The lien in question was filed at the Recorder of... Read more »
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The Price of Foreclosure: An Education

The Price of Foreclosure:  An Education
My overdue trip to the Clerk of the Circuit Court’s office finally happened. While I had been there many times before, this trip provided me with a quick education in the steps the state is taking to combat predatory lending. In my last post I mentioned that a few of the foreclosure files had a... Read more »

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.... Read more »

The Price of Foreclosure: Public Records

The Price of Foreclosure:  Public Records
If you know where to look, public real estate records can tell a fascinating story. The documents concerning the 4725 South Michigan condo association were pulled from various online Cook County records and court documents. I performed basic searches via the following departments: Cook County AssessorCook County TreasurerThe Clerk of the Circuit Court of Cook... Read more »
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