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Buyer Sues Kopley Over Buy-Back Guarantee

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During the end of the boom, one cocky developer, Nick Kopley, offered a buy-back guarantee on condos in a Rogers Park loft building called the Renaissance Lofts. It was an "absolute, no questions asked" offer, Kopley told Dennis Rodkin at the time. Now, condo owners are asking questions, because Kopley isn't honoring his promise. Five buyers have applied for buy-backs, and only one has been successful. One of those four unsatisfied customers, a man named David Derk, recently filed a lawsuit against Kopley. "It's not a gentlemen's agreement; it's a contract," Derk says. [Deal Estate]