Ownership Wrangle Continues for Bankrupt Downtown Arlington Condos

Arlington Heights-based Metroscapes, LLC is involved in a legal debate over who now owns the mortgage of the defunct Metrolofts in downtown Arlington Heights. The developer filed bankruptcy protection in 2012 and is fighting foreclosure, according to Chicago Real Estate Daily.

The Metroscapes sold 35 out of the 55 units in the building at 10 N. Dunton Avenue prior to a foreclosure suit filed in February 2012, Chicago Real Estate Daily reports, and now is fighting to keep the remaining 20 units.

Lawyers for Metroscapes, LLC claim ownership of the project loan was not documented appropriately in Cook County, according to Chicago Real Estate Daily.