South Bend's Chase Tower auctioned off at St. Joseph County Sheriff's sale
The Chase Tower, South Bend's tallest building, was auctioned off on Thursday morning at a St. Joseph County Sheriff's sale on foreclosed properties, as reported by the South Bend Tribune.
An attorney representing Washington Square Realty made a $4.5 million bid for the 25-story hotel-and-office building at the corner of Main and Washington streets.
The Chase Tower has been in receivership since February 2011 after its previous owner, Dillingham Hill Real Estate, fell behind on their mortgage payments. It is currently half vacant and requires extensive renovations.
The building was also cited for several code violations which include missing electrical covers, expired fire extinguishers and problems with the sprinkler system, as reported by ABC57. There is also stone falling off the face of the building and rusty steel rebars exposed in the parking garage's crumbling concrete.
A motion to end the receivership will be filed within the next few days.
To read the full story, visit the South Bend Tribune.