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CHICAGO (CBS) — The owners of a rooftop club across from Wrigley Field have filed for Chapter 11 bankruptcy, in order to block a foreclosure auction that was set to go ahead within hours.
But the owners of the club hope to sell the property, which would allow them to pay off a $3.3 million debt to Orland Park-based First Personal Bank, Crain’s reported. The newspaper quoted an attorney for the owners as saying some serious buyers have expressed interest.
The most significant liability for the club is the claim from First Personal Bank, which filed for foreclosure in February 2010, Crain’s reported.
The Lakeview Baseball Club is known for the its two Latin signs that are seen behind the right field bleachers at Cubs games. One reads, “Eamus Catuli,” or “Let’s go Cubs,” while the other counts the number of years since the Cubs have won a division title, a National League Championship and a World Series, preceded by “A.C.” for “Anno Catuli” or “Year of the Cub.”