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Chicago Investors Face Foreclosure Crisis
Republic Bank of Chicago is moving forward with foreclosure on two South Wentworth Avenue apartment buildings, citing unpaid debt from a $400K loan that matured in May. The case brings Eli Tauber into focus, as he had agreed to buy the properties from Tyler DeRoo and Stephen Lee — both already drowning in financial trouble. Their combined portfolios, plus Tauber’s, include dozens of distressed buildings across Chicago’s South and West Sides, caught in the crosshairs of rising interest rates. DeRoo and Lee are personally liable as guarantors, while Tauber faces his own foreclosure on South…
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