Chicago Churches Have Land Sold Out From Under Them
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In one of the more audacious moves by real estate fraudsters, it looks like a group including a disbarred lawyer faked being on the board of directors of churches to sell properties the churches owned. They have been selling empty lots to developers that were donated to the churches years ago.
Churches on the city’s South and West Sides have had at least 20 parcels sold out from under them in unauthorized sales, the Chicago Tribune reported in Sunday’s editions.
“They’re taking advantage of the most vulnerable,” said First Presbyterian Church of Chicago Pastor Gerald Wise, whose church lost four parcels in bogus sales, with more than $1.1 million changing hands. “Those parcels are our dowry.”
Court records indicate the lots, mostly vacant land located in neighborhoods showing signs of gentrification, have been sold in transactions linked to a disbarred Berwyn attorney, the Tribune reported.
The transactions follow the same pattern: A bogus board of directors approves the sale to fictitious buyers, who quickly transfer the property to one of three real estate companies with a single Berwyn address.
The address belongs to Phillip Radmer, who surrendered his law license in March 2000, according to the Tribune. Telephone calls seeking comment from Radmer Sunday were not immediately returned.
The Rev. E. Stephen Roberts, pastor of Garfield Park Baptist Church on Chicago’s West Side, said he was unaware two of the church’s parcels had been sold when he was contacted by the Tribune.
“Whoever bought it, bought themselves trouble,” he said, adding the church would get its attorneys involved. “It’s pretty sick.” via the Daily Herald
Am I the only one that finds it odd that the ONLY place that looks to be seriously warming is ...
It seems there are numbers posted about how much it could cost the US in home sales from people holding ...
The only people holding off will be those that are financially secure and can manage to hold off. How ...
What an awesome way to generate traffic for a story. Were they trying to time that for Sweeps Week? ...
That's awful. I wonder if using that tactic , if a building can be sold or used as collateral. ...
Good point about people possibly holding off now. The 4.5 percent interest rate could be a self-fulfilling prophecy. 
wow this is a wonderful creation...............i would like to be there once even in my life time........... 
Absolutely agree with Jon, excellent site and very imformative. Keep reporting to us please! 
I will say that had I never been to that site and seen Dean's many deals that he documented and ...
Great Real Estate
post ... very interesting. 
