Thanks to Curbed for highlighting a new article by Dennis Rodkin about Renaissance Lofts in Rogers Park, where buyers have filed suit against the Kopley Group for not honoring a buyback guarantee. We’ve heard complaints about these homes since 2009, when buyer Kevin Black wrote about his desire to exercise Kopley’s guarantee over at NewHomeNotebook. A couple weeks ago, David Derk, the subject of Rodkin’s article, posted a heads-up about his lawsuit at NewHomeNotebook, as well.
The “no questions asked, two-year price buy–back guarantee” included in contracts at Renaissance Lofts said Kopley’s development LLC would take back lofts at their full sale prices, minus any costs to repair damage, within 90 days of an owner’s request. A press release announcing the guarantee is still available through Kopley’s website.