Last month we brought you this video interview with David Derk, who is suing the Kopley Group for not honoring a buyback guarantee at Renaissance Lofts in Rogers Park.
Today we learned, first from our own sources and later through a report from Crain’s, that MB Financial Bank has filed a suit of its own against Kopley, seeking $1.8 million in unpaid principal and interest on a 2002 loan for Renaissance Lofts. MB inherited the $5.1 million loan following the closure of Broadway Bank last year.
The suit involves seven unsold units in the building, including one that Kopley did repurchase from a buyer, Crain’s says.
Banks are also seeking $2.45 million from Kopley for loans on apartments buildings in Rogers Park and Lake View.
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