HUD INTENDS TO BID THE AMOUNT OF THE INDEBTEDNESS:  This high-rise apartment complex is comprised of two, 22-story buildings.  Located on approximately 9.86 acres in the Mies van der Rohe Residential District, this market-rate property offers 584 units.  Amenities include: fitness center, laundry room, community space, pool and garage.

EARNEST MONEY:  $100,000 is required for bidding at the foreclosure sale.

REPAIR ESCROW:  $2,524,428 is required at closing to ensure the completion of repairs within 18 months of closing.  Repairs are estimated at $10,097,714.
 
HUD is not offering financing.  This is an "all-cash", "as-is" sale.   HUD does not own or operate this facility and cannot grant access for viewing.  Viewing is at the discretion of the current owner/management agent.  Interested parties are urged to review the Invitation to Bid (see link below) prior to submitting a bid at the foreclosure sale.  HUD INTENDS TO BID THE DEBT AT THE FORECLOSURE SALE.