CHICAGO-The owner of some retail complexes spanning 65,000 square feet in the Gold Coast and Lincoln Park, Fred Latsko has agreed for a settlement in a foreclosure suit for $21 million. The vacancy rate at the building rose to 20% in 2009 from below 3% in 2004.
As per the agreement Latsko will pay $400,000 interest by the end of June 2011 and one of his ventures paid $1.7 million and remaining charges to avoid foreclosure of the property. For the full story, go to Crain's Chicago Business.
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