John Buck Loses West Loop Site to JDI Realty

John Buck Loses West Loop Site to JDI Realty

The John Buck Company has surrendered its long-planned West Loop development site at 645 West Madison Street to JDI Realty, capping a debt saga that began when Signature Bank sold its majority share of the project's $35 million mortgage note to JDI at a steep discount. The move erases Buck's equity in the two-acre parcel through a deed-in-lieu of foreclosure, ending a years-long push to build a skyscraper along the Kennedy Expressway that never …

John Buck surrenders West Loop development site to JDI after loan note fire sale

A lender vs. lender lawsuit is playing out after Jeff Aeder bought a $35 million debt for 645 West Madison Street at a steep discount.