Newby Appointed as Sterling Receiver

Newby Management has been appointed as receiver of Sterling Estates in Justice, IL.  The nearly 800 site community has been part of Capital First Realty’s portfolio of land- lease communities.  At Sterling and another Capital First Realty location, MB Financial Bank has notified occupants of dozens of homes of their plans to sell homes financed for now bankrupt Capital Home Sales.  MB Financial has modified an initial letter to occupants, allowing those residents 90 days to find alternative housing before any replevin action is taken.

 

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