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STREATOR: Foreclosure begun against tavern
Illinois Foreclosure News
Despite financial problems, the owner of a popular Streator bar said his establishment is going to remain open.
Centrue Bank (formerly UnionBank) began foreclosure proceedings last week in La Salle County Circuit Court against the owners of Cheapseats Sports Bar & Grill, 623 E. Main St. The bank is saying the owners defaulted on two loans and as of April 16 owed $157,802 total, with daily total interest of $37.
The bar is operated by Cortryn Inc.. The president, Jerry D. Spore, and secretary, Debra K. Spore, are both of Streator. Cheapseats opened in 2002, and the loans were taken in August, 2003.
Jerry Spore said this morning Cheapseats is not going to close and the loan problems are a "mixup to some degree" that he is working to straighten.
The owners also failed to pay the 2004 and 2005 county real estate taxes for the property, which led to the delinquent taxes being sold. A lien for unpaid federal taxes of $5,475 also was filed against the property in January 2005.
This year in Circuit Court, Spore was found to owe $4,047 to Capital One Bank, for charges to an account he did not pay, according to court records. Last year in Circuit Court, Cheapseats was found to owe $2,613 to the Radio Group -- a string of radio stations that includes WSPL in Streator. Regarding this matter, Spore was arrested in November for not showing for a court hearing.Article Source http://mywebtimes.com/ottnews/archives/ottawa/display.php?id=296227
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