Wednesday, October 17, 2018

The Latest Drama in the River City Deconversion Saga

More info on the River City Deconversion attempts (via The Real Deal):
The River City condo association lobbed the latest legal volley in the drama-filled deconversion of the South Loop building, accusing owners of multiple units of failing to comply with the sale process.

The association filed suits against at least 19 unit owners in the building, accusing them of failing to turn over documents needed to close on the sale. The unit owners’ reluctance to comply puts the deal in jeopardy as a Nov. 28 closing date looms, according to the lawsuits.

It is the latest legal controversy surrounding a deal that at one point was poised to be the biggest deconversion in city history.

For more on the back and forth here is a post from a couple weeks back.

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