Lending & Foreclosure
Verified Update
Filed
CommunityAmerica Credit Union sued in Cook County to foreclose a $236 million loan on Shaya Prager's 35 West Wacker Drive office tower after borrower Liberty 35 Wacker LLC defaulted.
CommunityAmerica Credit Union sued to foreclose on a roughly $220 million loan, now totaling $236 million with accrued interest and fees, secured by 35 West Wacker Drive, the 50-story, approximately 1.1-million-square-foot Chicago office tower also known as the Leo Burnett Building. The suit, filed in Cook County Circuit Court on November 5, 2026, names borrower Liberty 35 Wacker LLC, an affiliate of investor Shaya Prager's Opal Holdings, and seeks appointment of a receiver.
$236 million owed on an originally ~$220 million loan
Office
Why it matters: CommunityAmerica inherited the loan through its merger with Unify Financial Credit Union, which had previously lent to other Prager entities, illustrating how loan portfolios and the sponsor-level distress that comes with them pass between lenders through consolidation. Prager personally guaranteed the loan but isn't named as a defendant while an involuntary Chapter 7 bankruptcy petition against him and his wife remains contested, showing how a pending personal bankruptcy can delay collection against a guarantor even as secured creditors move directly against the collateral and borrowing entity.
Nov 5, 2026
Circuit Court of Cook County, Illinois, Chancery Division
Lending & Foreclosure
Verified Update
Filed
CommunityAmerica Federal Credit Union filed two foreclosure suits seeking roughly $46M on the Metropoint 300 and 400 office buildings in St. Louis Park, Minnesota after anchor Wells Fargo left.
CommunityAmerica Federal Credit Union filed two foreclosure lawsuits in Hennepin County District Court against the owners of the Metropoint 300 and Metropoint 400 office buildings in St. Louis Park, Minnesota, seeking to recover roughly $46M after the 918,000-square-foot campus lost anchor tenant Wells Fargo, which had occupied more than half the complex. Both buildings are now scheduled for a foreclosure auction in September 2026.
$46M combined loan balance (two foreclosure suits)
Why it matters: One of several office foreclosure actions filed nationally this summer (alongside a $417.7M foreclosure on Boca Raton's Mandarin Oriental Residences and a court-ordered receivership over San Francisco's Central Tower) signaling lenders are moving from forbearance to litigation more quickly as anchor-tenant departures and depressed appraisals erode office collateral value. Owners with looming lease rollovers near loan maturity should treat these filings as an early-warning benchmark for lender posture.
Jul 23, 2026
Hennepin County District Court, Minnesota
