Hunter
09/12/25
Four Iowa City properties, including the recently-constructed Chauncey Building, will be sold at a Sheriff’s sale in the fall.
The Gazette reports the sale is the result of a foreclosure ruling on the properties earlier this year, and also includes the 20-year-old Plaza Towers on East College Street, Park@201 on East Washington Street, completed in 2014, and a parking lot at the intersection of South Clinton Street and East Burlington Street.
Court documents say the outstanding judgement on the properties totals about $26.5 million.
The foreclosure ruling came after a group led by developer Marc Moen, his family members and friends failed to live up to a restructuring agreement that required the group to repay the loans on the properties by December 31st 2024. When they failed to do so, GreenState Credit Union filed a motion for a summary judgement.
A judge ruled in favor of GreenState, and the Sheriff’s sale will take place November 18th at the Johnson County Sheriff’s Office. Bidders must be at least 18 years old and have an approved credit limit from a financial institution.