April 22, 2009

Foreclosed Developer Pals Golovan & Mudd find Cash for Moore

1626 W Lunt (PIN 11-31-213-010)
North Side developers face $11 million in foreclosure suits

By Samantha Sleevi, April 22, 2009

(Crain’s) — A Southern California bank has sued to collect more than $9.5 million on seven vintage North Side apartment buildings owned by developers Charles Mudd and Steve Golovan of Chicago Graystone Realty LLC.

Chicago Graystone and an affiliated construction firm, Castlebar Enterprises Inc., have been active rehabbers of apartment properties in addition to building new developments ...

First Bank of Beverly Hills alleges that five loans fell into default when they came due Nov. 15 and were left unpaid ...

The foreclosure suits hit rental properties from Rogers Park to West Town. ... [including] a 20-unit building at 1626 W. Lunt Ave.
Although Golovan does not live in the 49th ward, and although his business office is in the 32th ward, Moore is Golovan's fav alderman, and Golovan is among Moore's most generous supporters:

Castlebar Operating Trust Account
2636 N Lincoln Ave
Chicago, IL 60614

$2,500.00 on 12/14/2006 from 1620 W Estes LLC to Citizens for Joe Moore
$2,500.00 on 12/14/2006 from 1620 W Estes LLC to Citizens for Joe Moore
$1,500.00 on 11/30/2006 from 7024 N. Ridge LLC to Citizens for Joe Moore
$1,500.00 on 11/30/2006 from 7024 N. Ridge LLC to Citizens for Joe Moore
$1,500.00 on 11/30/2006 from 4716 Beacon to Citizens for Joe Moore
$1,500.00 on 11/30/2006 from 4716 Beacon to Citizens for Joe Moore
$1,000.00 on 7/16/2003 to Citizens for Joe Moore

Active Equities, LLC
Charles Mudd and Steve Golovan, owners
2636 N. Lincoln Ave
Chicago, IL 60614

$3,000.00 on 3/12/2007 to Citizens for Joe Moore
$2,500.00 on 1/30/2006 to Citizens for Joe Moore
$1,500.00 on 1/16/2004 to Citizens for Joe Moore
$1,500.00 on 1/16/2004 to Citizens for Joe Moore
$1,000.00 on 10/24/2002 to Citizens for Joe Moore
$1,000.00 on 6/14/2002 to Citizens for Joe Moore

$22,500.00 reported since 2002.

Those are NOT not a typos - when disclosing, Moore seems to prefer to break Golovan's payments up. And for his part, Golovan much prefers to pay alms under the name of an LLC to his own name.

Mudd shares office space in Suite 101 at 1333 N Kingsbury with his partners William and Martha Moran of Bill Moran and Associates and Bil-Mar Management LLC, another of the top underwriters of Moore's incumbency, but time and space do not permit a detailed accounting at this time. You can look it up.

Golovan, Mudd, and another Chief Sponsor of Alderman Joe Moore (R), realtor-developer-aldermanic-advisor Rich Aronson teamed up to purchase Moore's legislative services in dismantling Chicago's Lakefront Protection Ordinance when they pitched a replacement for the Connie Abels Legacy Project at 7015 N Sheridan that went no where beyond demolition. Again, resources do not permit an adequate treatment of Aronson's abiding commitment to pay-to-play development in Rogers Park. You can look it up.

Regular readers will recognize Golovan as The King of Tear-Downs-For-Condos in Rogers Park. Golovan is the best customer of Moore's pay-to-play demolition permit service:

No comments: