CHICAGO’S JOFFCO SQUARE SEEKS CHAPTER 11 BANKRUPTCY

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CHICAGO — Northbrook, Ill.-based River West Plaza-Chicago has filed for Chapter 11 bankruptcy protection from creditors and a reorganization plan in U.S. Bankruptcy Court on behalf of its 95,000-square-foot Joffco Square retail center in Chicago. Located at 555 W. Roosevelt Road, Joffco Square is currently 83 percent occupied. The reorganization plans provides for the company’s trade creditors to be paid in full with interest and the terms of the company’s $26.15 million acquisition and construction loan, which matured in November, to be renegotiated with Bank of America N.A. Illinois-based Meltzer, Purtill & Stelle LLC is representing River West Plaza-Chicago in the bankruptcy petition.

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