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Building Housing Obama HQ on Verge of Default

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Building Housing Obama HQ on Verge of Default

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The Chicago building that currently houses President Barack Obama's re-election headquarters is on the verge of default.

The owner of Prudential Plaza, at 1305 E. Randolph St., faces "imminent default" on loans it took out to purchase the building five years ago, according to ChicagoRealEstateDaily.com.

The site explains that Los Angeles-based BentleyForbes Holdings LLC is currently making enough money from leases to cover the loans, but is set to lose three major clients, including the Obama 2012 campaign, by the end of May 2014.
 
BentleyForbes last year faced defaulted on its loan for Atlanta's Bank of America Plaza.

Related Topics Barack Obama, Obama 2012
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