Aug. 17th, 2011
"Purple Hotel is about to die..."
Aug. 17th, 2011 04:23 pmThe place has so many code violations that in February the village got the legal right to raze it unless owner Donald Bae made repairs. None has occurred, said village Administrator Timothy Wiberg, so the town is preparing specifications for demolition bids.
But that’s probably not Bae’s biggest concern. His lender, First Midwest Bank, wants to foreclose on him and is trying to sell the unpaid mortgage note. The buyer then could be in position to take control of the site, which Lincolnwood officials want redeveloped.
Podolsky Northstar Corfac International is the agent for the note sale. Senior Vice President Adam Tarantur said he hopes a winning bidder will be selected by the end of the month. He said Bae owes $4.6 million, counting penalties.
Bae is a Korean business leader whose conduct in this matter has been strange. He has listed the property for sale with a $25.8 million price, a figure that real estate experts say is so high that it deters serious inquiries. Rather than sell it for whatever he can get, Bae now risks losing the property altogether. He could not be reached for comment.
Color me unsurprised that he doesn't have a comment.
On the Markuze/"Mabus" arrest
Aug. 17th, 2011 06:33 pmKeep in mind that despite the raging assholery that Markuze has engaged in over the years (a catalog of only some of it is available here), he probably is a profoundly mentally ill man who needs thorough psychiatric treatment much more than he needs prison time. As Phil Plait put it,
I don’t want to see Mabus tossed into jail. I’m not a psychiatrist, but it’s clear the man has mental problems. We tend to stigmatize mental illness, but that’s unfair and unhelpful; it’s a prejudice that may blind us to how that person’s condition can be mitigated with attention and care. My fondest and most sincere hope is that this arrest leads to an evaluation of Mabus and that he gets the help he so obviously needs.
At least it ended this way instead of how it could have; witness Anders Behring Breivik. Granted, the two incidents are far from analogous, but consider that the supposedly saner of the two was the one who actually succeeded in pulling his murderous fantasy off.