In Chicago, over 800 properties on the South and West sides are set for auction due to a significant legal battle involving a landowner notorious for neglect. A lawsuit revealed severe disrepair and fines exceeding $15 million for various violations, leading the owners to attempt bankruptcy. As a result, the city is auctioning these lots, a potential goldmine for investors if the local market improves. Concerns remain about the historic neglect and possible future property management challenges.
In one of the city's largest land auctions, over 800 lots are being sold due to a legal dispute involving a landowner known for neglecting her properties.
The Chicago city lawsuit against the landowner describes her as a "scourge on the city and its residents," highlighting the extent of neglect leading to massive fines.
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