General Real Estate; News; Oak Lawn @ 12 Jan 2009 11:54 am by judyorr
The building located at 5100-5110 Museum Drive in Oak Lawn, IL, has gone into foreclosure. This building was to house the Children’s Museum which would be moving into the 1st and 2nd floor from their older and much smaller building located at 9600 E. Shore Drive. Oak Lawn village officials told the museum director that this situation should not affect the move.
The building was originally purchased by WexTrust Capital LLC, a former Chicago based firm facing charges of conducting a massive ponzi sheme. This company created hundreds of subsidiaries and purchased hotels, apartment buildings and other commercial properties using funds raised from around 1,200 investors.
The auction was held last Thursday but it isn’t clear whether there was a purchaser. I have been waiting for the new museum to open. I sure hope this unfortunate news doesn’t change those plans.
Original Oak Lawn Children’s Museum
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