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Chronicles of Corruption

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It was pretty much a given there was little chance of resurrecting the corrupt condo project that wormed its way into the Kinzie planned manufacturing district several years ago. A shell of early-stage construction sits on the site at 375 N Morgan, where it hasn't budged since 2005. That was the year that Jerry Cedicci landed a dubious permit for a 44-unit building by allegedly proffering two city officials with a junket to Brazil (five city officials quit during investigations). The courts have not been sympathetic to Cedicci's appeals. And now, Crain's reports that developer Fred Latsko is poised to pick up the parcel in foreclosure. He's mum on what he intends for it, though onlookers think it's unlikely he'll be able to advance the case for residential. Even though the new Morgan CTA stop has helped bring development attention to the area, there are a lot of active industrial businesses that wouldn't be able to operate seamlessly with residences next door. Something like office space, restaurants, light manufacturing, or a blend is far more likely. [Crain's, by subscription, previously]