EB-5 investors sue NY developer for $50M over failed Chicago tower project

A group of Chinese investors is suing a developer to return some $50 million invested in a failed River North tower project. The 60 investors each contributed $550,000 to the Chicago project in hopes of securing an American visa through the federal EB-5 program, but the plan by New York-based Symmetry Property Development was thwarted when Alderman Brendan Reilly (42nd) rejected it in 2017 over traffic concerns, according to Loop North News. The group filed […]

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