Serving the Loop and Near North neighborhoods of downtown Chicago
Trump testifies in River North condo sale dispute

May 15, 2013 – Donald Trump calmly answered questions for about 50 minutes on Tuesday in a civil trial in downtown Chicago. The dispute is over the sale of two condo units at his 92-story Trump International Hotel & Tower in River North. Jacqueline Goldberg, an 87-year-old real estate investor, says she was persuaded to buy two condo units – one for $1.2 million and the other for $971,000 – by a claim from Trump’s company that her units included partial ownership of common elements that could annually generate $5 million in revenue. She says the company went back on the offer and she is suing for breach of contract.

Trump was asked about his projects in New York and Chicago, particularly Trump Tower. “I’ve built some great buildings,” he said, but the one in Chicago is “the most spectacular.”

Photo by Steven Dahlman (Left) Donald Trump speaks with a reporter from Forbes.com.at Trump International Hotel & Tower on March 14 2012.

Trump’s often boastful responses frustrated Goldberg’s attorney, Shelly Kulwin, who told the judge at one point, “He’s not answering the question, he’s giving a speech.”

Trump says it was the Chicago Sun-Times that approached him about building on their site along the Chicago River, a location with which Trump then “became enamored.” Kulwin tried to contradict that claim with a short video clip from an earlier deposition in which Trump said it was his idea to build on the site.

After likely spending much of the day at Dirksen Courthouse, Trump was called to the witness stand at 4:04 p.m., seven hours into the trial. As the day wore on, an attorney for Trump tried to get him moved up in the schedule, saying “hundreds” of people were waiting on Trump in New York to tape a television show. Trump is executive producer of the NBC reality show The Apprentice.

District Judge Amy J. St. Eve was not sympathetic, saying the trial date was set last November. Moving him ahead of another witness, she said, “really isn’t fair to Ms. Goldberg or the jury.”

Most of the day was spent with testimony from Charles Reiss, a former senior vice president at Trump. Kulwin took Reiss through the basics of condo ownership, hotel operation, and the timeline of Trump projects in Chicago and New York.

Reiss explained how Trump Chicago was originally going to have much more commercial space but they became increasingly concerned about being able to rent the space and get $640 million in financing for the project. The space – approximately 350,000 square feet – was changed “drastically,” said Reiss, converted to ballrooms, meeting rooms, a banquet facility, and a bigger health club.

Opening statements were heard on Monday. Donald Trump will be back on the witness stand on Wednesday morning.

Mortgage rates hit 7.28%, tightening squeeze on North Side buyers
Mortgage rates hit 7.28%, tightening squeeze on North Side buyers
Former Royal Sonesta quietly rebrands as Hotel 505 following sale to Canadian developer
Former Royal Sonesta quietly rebrands as Hotel 505 following sale to Canadian developer
Goodbye, 5% mortgages: Rate creep and inventory slump pinch Chicago buyers
Goodbye, 5% mortgages: Rate creep and inventory slump pinch Chicago buyers
Crossing the river: A Chicago fan’s game-day guide to the Chiefs’ new home in KCK
Crossing the river: A Chicago fan’s game-day guide to the Chiefs’ new home in KCK
Cook County homeowners bear brunt of $744M tax hike as commercial values lag
Cook County homeowners bear brunt of $744M tax hike as commercial values lag
Why Cook County’s senior property tax freeze should be automatic—and permanent
Why Cook County’s senior property tax freeze should be automatic—and permanent
Mayor’s ‘PRO’ renter ordinance could backfire with higher rents, landlords warn
Mayor’s ‘PRO’ renter ordinance could backfire with higher rents, landlords warn
Data center redevelopment at 300 West Adams approved
Data center redevelopment at 300 West Adams approved
At CTA stop, Bailey pledges SAFE-T Act repeal and property tax cap
At CTA stop, Bailey pledges SAFE-T Act repeal and property tax cap
Court backs City Hall in Streeterville pot shop ruling
Court backs City Hall in Streeterville pot shop ruling
ChicagoFilming.com Chicago MLS Pro Aqua Condo Homes Marina City Condo Homes West Town Condos Chicago MLS Pro