The owners of the office building 123 N. Wacker Drive in Chicago have been hit with one of the largest foreclosure suits filed in the city since the real estate crash, according to Crain's Chicago Real Estate Daily. Miami, Beach, Fla.-based LNR Property are suing the owners in an attempt to collect nearly $135 million.
Attorney Richard J. Traub, Co-Leader of the firm's Real Estate Practice Group, spoke with Chicago Real Estate Daily about the lawsuit, providing commentary on the tenants-in-common transaction the owners used to acquire the property. His comments were published on Dec. 3 in a story titled, "Wacker Drive Office Tower Hit with $135 Million Foreclosure Lawsuit."
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