Lawsuit to Collect $1.8 Million from George Markopoulos Venture

In its article about American Enterprise Bank's lawsuit to collect $1.8 million, Crain's writes that the "...building is owned by a venture that includes George Markopoulos, managing principal of Northbrook-based Praedium Development Corp. He did not return a call requesting comment." The property in question was 4000 N. Lincoln, at the heart of the North Center neighborhood in Chicago.

According to Crain's, the loan was guaranteed by developer Douglas Gannett of Metro West Development LLC, partner of George Markopoulos. The lawsuit was filed in July, 2011.

The property was later acquired by another owner. According to Cook Count Recorder of Deeds, in 2012 the deed to the property was granted to 4000 N LINCOLN AVE LLC, a new owner listed with agent name BFKPN Corporate Services, Inc. The grantors of the deed were listed as George Markopoulos and Intercounty Judicial Sale Corp., a private firm that specializes in conducting foreclosure auctions.