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Article: Block 37: The Buck angle; Developer pulls up a chair as adviser to project's lender.(NEWS)(Bank of America Corp.)
- Article from:
- Crain's Chicago Business
- Article date:
- October 26, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: ALBY GALLUN AND THOMAS A. CORFMAN
John Buck is playing a behind-the-scenes role in the financial drama unfolding at Block 37, a job that could give the real estate mogul the inside track if the project's lender decides to bring in a new developer.
Sources say Block 37 lender Bank of America N.A. hired Mr. Buck's firm last spring as an adviser on the star-crossed downtown shopping mall, which faces an uncertain future after the bank filed a $128-million foreclosure suit last weekless than a month before its planned opening.
Unless developer Joseph Freed & Associates LLC agrees to put more money in the project, which is about $34 million ...
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