The legal battle over a failed 176-unit South Loop condominium project has escalated, with its lender going after the personal assets of developer Ted Mazola and a partner.
A venture that includes Los Angeles-based Oaktree Capital Management L.P. alleges Mr. Mazola and partner Gus Mauro failed to follow through on their promise to guarantee a $46.2 million construction loan for the condo tower at 1555 S. Wabash Ave., according to a complaint filed last month in Cook County Circuit Court.
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