Broadcast Museum Faces Foreclosure Suit
May 6, 2008 at 5:22 AM (PT)
CHICAGO's MUSEUM OF BROADCAST COMMUNICATIONS faces a foreclosure lawsuit from the general contractor building its new facility, according to CRAIN'S CHICAGO BUSINESS.
The suit by PEPPER CONSTRUCTION CO. seeks $4.5 million to cover unpaid bills, which museum Founder/CEO BRUCE DUMONT tells the magazine the organization "has every intention of paying." PEPPER halted work on the partially-built structure about two years ago after payments halted when state funding fell through.
DUMONT tells CRAIN'S that a tenant for the retail space in the building is close to a deal, and that the building is not for sale.