Chicago developer Mark Hunt is facing yet another foreclosure lawsuit — this time by a local development group that’s pushing to take control of the former Lincoln Park Hospital property.
A venture led by Michael Supera and Richard Zisook sued Mr. Hunt’s venture that owns the three-acre site at 550 W. Webster Ave. The foreclosure suit asks a court for possession of the property, which has been vacant since the hospital closed in October.
A month before filing the suit, Messrs. Supera and Zisook paid an undisclosed sum for control of a $35-million construction loan that Cincinnati-based Fifth Third Bank granted Mr. Hunt’s venture in July 2007, according to property records. The loan, which has a remaining balance of roughly $30.7 million, matured July 12.
More: Lawsuit seeks control of Lincoln Park Hospital site
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