We are part of a community that cares about responsible development in our neighborhood. 

 

When real estate developers come knocking on our door, we believe there should be transparency and accountability regarding their track record. When we don't have transparency, we're all at risk: residents, investors, contractors, and even city governments. Overall, we deserve to know about developers who come into our community with the intention to change it.

 

Sometimes, these developers are responsible entities who are accountable to their lenders, contractors, and government institutions. In other cases, developers aren't so responsible - and these companies are a risk to our communities and tax-payer dollars.

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George Markopoulos, real estate developer and president of Northbrook-based Praedium Development, falls into the latter category - and we blow the whistle. 

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Markopoulos has been the subject of multiple suits for unpaid labor and has defaulted on loans - including from city lenders - throughout his career. Several years ago, it escalated to a federal level - the Securities and Exchange Commission (SEC) issued fines against Markopoulos partner Robert Acri after he misled investors on the behalf of Praedium Development. 

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Whether you are a neighborhood resident, potential investor, or construction or landscaping contractor, this information should matter to you. When we allow real estate developers to build in our neighborhood, we trust them to act responsibly - and we all deserve to know when a potential developer hasn't done so in the past.

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All information presented on this website is  directly excerpted or summarized from county, state, and federal court records and media sources.

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