Illinois Northern coverage

chapter 11 and restructuring coverage from Illinois Northern.

5 articles

Showing 1 to 5 of 5 coverage articles

Week of June 29, 2026

Integrity Investment REO Files Chapter 11 to Block Byline's $11.4M Receivership Push

Integrity Investment REO Holdings filed chapter 11 in Chicago on the day Byline Bank was set to seek a receiver, after an $11.4 million loan matured unpaid. The case has no plan, no debtor-in-possession financing, and only a single $5,924 reported deposit.

FreefallReal estate & construction

Week of May 4, 2026

May 6

St. Margaret's Health: Illinois Hospitals' Chapter 11 Ends in $38M OSF Sale

St. Margaret's Health (Peru and Spring Valley, Ill.) filed chapter 11 Aug. 2023 after rural hospital closures. The Peru campus sold to OSF Healthcare for $38M; a Creditor Trust is resolving SVCB setoff disputes and pending distributions.

FreefallHealthcare & life sciences

Week of March 16, 2026

Mar 19

Friendship Village of Schaumburg Sells Campus for $35.5M, Converts to Chapter 7 After Plan Fight

Friendship Village of Schaumburg filed chapter 11 in June 2023 after a census collapse strained roughly $131.6 million in bond debt. The senior living operator sold its campus for more than $35.5 million, but plan disputes with its bond trustee led to a September 2024 conversion to chapter 7.

Chapter 7Healthcare & life sciences

Mar 16

Hawthorne Race Course: 363 Sale and License Preservation

Hawthorne Race Course's chapter 11 case centers on a section 363 sale, disputed DIP financing, and preserving the racing and gaming licenses that support going-concern value in Illinois.

FreefallMedia, sports & entertainment

Week of March 2, 2026

Mar 6

Lutheran Life Communities: $189M Bond Restructuring Tests CCRC Model

Lutheran Life Communities, a nonprofit CCRC operator serving 825 residents across four Illinois and Indiana facilities, filed chapter 11 to restructure $189M in municipal bonds via bondholder-negotiated exchange. The case highlights systemic CCRC sector vulnerability to post-pandemic economics.

FreefallHealthcare & life sciences