Crain's: Lender takes over Lexington Park Condominiums

Lexington Park Condominiums, 2138 S Indiana Ave, is now “the city’s biggest condo tower to be taken over by its lender in the current housing crisis,” Crain’s Chicago Real Estate Daily reports this morning.

Starwood Capital Group, which won the assets of the failed Corus Bank last fall, obtained the empty high-rise through a through a deed-in-lieu of foreclosure last week. No word yet on what decision the group’s development LLC, ST Residential, will make regarding the 180-plus Lexington Park units under contract.

Follow months of buyer speculation and frustration in this YoChicago thread.

(Visited 267 times, 1 visits today)