Waterloo's Black's Building owners filed for a Chapter 11 restructuring plan to defend the property from a sheriff's sale. A sheriff's sale is a public auction handled by law enforcement where default property is acquired.
The historic Black's Building, built in 1913, specializes in commercial office space and luxury apartments. Additionally, the property's Black's Sky and Tea Rooms perfectly cater to weddings and special events. Moreover, the Black's Department Store remains recognized as one of the best in the Midwest.
Midtown Development files for Chapter 11
Midtown Development, which operates the Black's Building, filed for a voluntary Chapter 11 restructuring plan. MidWestOne Bank won the property in foreclosure, as reported by The Courier.
Problems in the company aros...