Thanks Mark! I actually short sold this financial albatross June 10th, 2009 (notice I cite the exact date!) in an all-cash deal. Four months later, the developer filed for bk in a Chicago. The building is half sold, and you can imagine how much the value of the property owner's units will plummet once the bank trustee (Stearns Bank) has a fire sale!!! Will take decades! for unit owners to get back the $ they paid for their waaaaaaay overpriced units!!!
Nice pad David!
betonarchese 2 years ago 2
Thanks Mark! I actually short sold this financial albatross June 10th, 2009 (notice I cite the exact date!) in an all-cash deal. Four months later, the developer filed for bk in a Chicago. The building is half sold, and you can imagine how much the value of the property owner's units will plummet once the bank trustee (Stearns Bank) has a fire sale!!! Will take decades! for unit owners to get back the $ they paid for their waaaaaaay overpriced units!!!
2kosher 2 years ago