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Highlights
The John Buck Company surrendered 645 West Madison Street to JDI Realty via a deed-in-lieu of foreclosure.
JDI earlier this year bought the $35 million mortgage loan note at a huge discount from its face value, for about $10 million, from Chicago-based Signature Bank ahead of its merger with New York-based Esquire Bank.
Buck originally paid $53 million for the site in 2023 but failed to secure an anchor tenant for its planned office towers.