The Magnificent Mile attracts high-end retailers, free-spending tourists, and now, the biggest active foreclosure suit in downtown Chicago.
Wells Fargo Bank N.A. has sued to collect nearly $103 million from the owner of the 27-story office tower at 625 N. Michigan Ave. The lawsuit alleges that the owner, a joint venture between Chicago-based Golub & Co. and an investor group put together by now-defunct Anglo Irish Bank Corp., missed a monthly loan payment in October and failed to pay off its mortgage when it came due in February.
