One of the more peculiar failed condo developments from the boom is in the news again. Jerome Cedicci, the man who started (but never finished) building a 44-unit condo development in the middle of the Kinzie Industrial Corridor has been hit with a $3.4-million foreclosure suit, Crain's reports. Construction was halted in 2005, when nearby manufacturers complained. Now, the one-and-a-half-story construction site is filled with weeds, trash and graffiti. How the developer managed to get building permits for a residential building in a planned manufacturing district in the first place is still a bit of a mystery; inquiries into the matter prompted five city officials to quit. Despite the setbacks, Cedicci isn't raising the white flag just yet. According to the Crain's piece, he lost a lawsuit to reinstate the building permit, but he has filed an appeal. He must really want to build those condos.
· Foreclosure suit hits controversial West Side project [Crain's]
Filed under:
Loading comments...