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Article: St. Clair County, Ill., Bank Is Sole Bidder for Business Complex.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 12, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. 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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Knight Ridder/Tribune Business News
Oct. 13 -- Union Planters Bank was the only bidder for the Kings Point complex in St. Clair County Court on Tuesday, issuing a $1.5 million bid it won't have to pay because of the millions the bank was owed on the fitness club.
More than $12 million of the Kings Point mortgage still is unpaid, and the bank could have bid up to that amount without any real expense.
Union Planters now will try to market the building and find a buyer, said Harlen Ferry, an executive handling the Kings Point foreclosure. He said the property is like any other foreclosure: The bank is not interested in owning or operating the ...