YoChicago first mentioned North River Court, a condo development at 2609 W Belmont Ave in Avondale, nearly 5 years ago. When we last wrote about it, just over 3 years ago, 16 of the 46 units were reportedly under contract, and the sales agent was predicting that closings would begin in March of 2009.
Work on the project was aborted, and the closings never happened. The project has remained in a state of disarray for several years.
Foreclosure proceedings were filed against the property early in 2009. In April of this year Chicago Magazine’s Deal Estate reported that Northbrook-based Premium Builders anticipated closing on a purchase of the property around June 1st.
That closing didn’t happen, and the property remained mired in the foreclosure until recently. The lender, Village Bank & Trust was granted an order of possession on December 12, following a Sheriff’s sale. Several mechanics’ lien claims against the property have been released within the past 30 days.
A representative of Wintrust, Village Bank’s parent company, did not respond to a late-afternoon email requesting more information. Premium Builders did not respond to a late-afternoon voice mail, and there’s no reference to the project at its website.