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Kimmel properties on delinquent tax list 15-Jun-11 – Two properties owned by Gary Kimmel, the Marina City resident who served 20 months in federal prisons for money laundering, are among 23 Marina City properties facing tax lien sales for delinquent property taxes. In a tax lien sale, an investor pays the taxes, interest and other costs and buys the lien on the property. If the property owner does not pay the investor within a certain time period, the lien holder can foreclose on the property and end up owning it. The properties are two one-bedroom units that are part of three combined units on the 56th floor of the east tower. Kimmel owes $6,071.95 for 2009 property taxes that were due last year. In 2009, Marina Towers Condominium Association was awarded possession of the combined units after suing Kimmel for unpaid assessments. Last December, the condo association was told by its attorney that two of the units were subjects of mortgage foreclosure proceedings. According to a legal notice published Wednesday in the Chicago Tribune, the units were subject to sale as of May 18. The tax lien sale is scheduled for July 22. (Below) Marina City units on a Delinquent Real Estate Tax List published Wednesday in Cook County. (Click on image to view larger version.)
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