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The brownstone housing the Chabad Lubavitch of the Loop, Gold Coast and Lincoln Park was to have gone on the auction block Wednesday, but the bankruptcy filing this week gave Chabad additional time to repay a bank loan, the Chicago Tribune reported.
The group has found a way to pay its debts but needed more time, Rabbi Meir Chai Benhiyoun said, according to the Tribune.
Seven years ago, Chabad sought to build a new center at Chestnut and Clark streets, on Chicago’s so-called “Gold Coast,” and used its building on North Dearborn as collateral to the bank on the $4.9 million loan.
Following the economic downturn, donations for Chabad took a hit, the bank changed its rules and the organization was unable to finance its loan on the new property.
The Chabad House has served as a residence, classroom and a place to stop for Jewish travelers on visits to Chicago.
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God has not cooperated with the Boycott Israel movement.
El Al has canceled its popular 001 after-midnight flight from Ben Gurion Airport to JFK in New York because of the expected blizzard that is forecast to cripple the Northeast in the United States. Flight 027 to Newark, New Jersey will take off 11 hours late, and the flight from Newark to Tel Aviv will […]
Ari Ne’eman, a pioneer in autism self-advocacy, awarded the Ruderman Prize in Inclusion.
IDF soldiers were dragged to missionary evening of ‘appreciation’ for soldiers who fought in Operation Protective Edge last summer in Gaza.
As they say in Egyptian, plus ça change, plus c’est la même chose.
French far-rightist politician Jean-Marie Le Pen suffered a facial injury.
Apple may have handed the Chinese government access to the software used in its iPhones.
Was it a toy? A test by Al Qaeda? Or maybe Amazon got the wrong address?
ISIS-linked cyber terrorists promoting a ‘Cyber Caliphate’ were busy early Monday hacking the website of Malaysia Airlines.
Canada’s Conservative government is set to consider new anti-terror legislation by the end of this week, following some nations in Europe.
The Old City of Jerusalem is made up of multiple cultures living side by side, in various degrees of conflict and cooperation.
Israeli President Ruvy Rivlin met in New York with former U.S. Secretary of State Henry Kissinger.
More than 20 cars and buildings in a Jewish community in north London were vandalized with swastikas. The Nazi symbol was drawn on approximately 27 cars in the Osbaldeston Road area of Stoke Newington on Sunday night, The Daily Mail reported. An unnamed 32-year-old man was arrested in connection with the vandalism Tuesday. The neighborhood […]
New York State Assemblyman Dov Hikind called on the Jewish community to attend the funeral of an assassinated New York police officer. “The brave men and women of the NYPD risk their lives every day to protect us. We value them and stand with them,” Hikind, a Democrat who represents Brooklyn, said in a statement […]
“Move Jew” scrawled on a Philadelphia home and slurs written on a synagogue and 10 garages in Chicago.
Cuba has “the largest pool of untapped baseball talent in the world, and Major League Baseball may tap and leave Cuba dry.
Argentina’s president Christina Fernandez has accepted an official Jewish godson for the first time in the country’s history to help counter legend of death to a seventh son. She described in seven tweets her meeting with her new godson, Yair Tawil, a member of a Chabad-Lubavitch family. He was adopted as a godson under a […]
Printed from: http://www.jewishpress.com/news/breaking-news/chicago-chabad-house-files-for-bankruptcy-to-avoid-foreclosure/2012/06/29/
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