Residents Hope to Purchase MHC

journal-topics tells MHProNews even as an auctioneer rolled through Glenview, Illinois’ Sunset Village MHC in a sound truck auctioning off manufactured homes, residents remain hopeful they can buy the community out of foreclosure. Frustrated by neglect and issues with water quality, threatened with eviction in some cases, residents made rent-to-own payments to Capital First Realty (CFR) CEO Richard Klarchek, the community’s principal investor. Those payments allegedly come to naught as Klarchek filed personal and business bankruptcy. An agreement the Sunset Village Residents Association (SRVA) made with the non-profit Housing Opportunity Development Corporation (HODC) would purchase the community, sell the back portion to residents and the front part to a commercial developer. County Housing and Urban Development officials are supportive of the co-op idea.

(Photo credit: Tom Robb/journal-topics)

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