Within months, the health care authority had signed a deal with Gardner Tanenbaum Group to relocate at the former Lincoln Plaza Hotel, 4345 N Lincoln.
Gupta's property continued to limp along. The lender filed a foreclosure motion in state district court March 11. The court appointed Jim Parrack, of Price Edwards & Co., as receiver.
Bert Belanger, an attorney and real estate broker who works with Gupta, said the family worked with the lender “and took some steps to make sure the (other) state tenants were handled” as well as possible.
Nether Vinod Gupta nor his son, Amil, vice president of operations for the family's property management company CR Operating Co., could be reached Thursday.
Belanger said the Guptas' fortunes have been vastly different at Landmark Towers, their office buildings at 3535, 3545 and 3555 NW 58.
“The Guptas have cooperated fully with the lender and have helped get a receiver in place,” Belanger said. “We continue to renew state leases at Landmark, and we are over 90 percent occupied, with several tenants seeking to expand.”