Sunset Village on Track to Flourish Again

Following a story we first published March 21, 2011 concerning the possible closing of Sunset Village MHC in Glenview, Ill. by Capital First Realty, and its subsequent placing in the hands of a court-appointed receiver as we reported July 2, 2011, it has now emerged from federal bankruptcy, according to journal-topics. October Investment Properties LLC of Northbrook, Ill. purchased the note on the property last month and says it will repair the well water system and operate the community in a responsible manner. Former owner Richard Klarchek was sued in court by Cook County and also by the state attorney-general over the water issue, but both of those actions were forestalled by the bankruptcy petition. As we reported Sept. 5, 2012, residents were attempting to purchase the community as a co-op.  MHProNews learned during the foreclosure process occupancy dropped to around 150 homes, less than half of the community’s capacity .

(Photo credit: Tom Robb/journal-topics–Sunset Village)

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