Chicago landlord Arthur Holmer is losing five properties — including two in Lakeview that nearly landed him in federal prison — after a bitter battle in bankruptcy court, Crain’s Chicago Business reported yesterday. Bankruptcy Judge Deborah Thorne signed an order this week confirming the $41 million sale of the properties, which include two vintage River North buildings, according to court filings. Holmer has been wrangling with his creditors over the properties for more than a year, most recently pushing a plan to refinance them and retain his ownership. But Judge Thorne instead signed off on the sale to a venture led by local investor Maria Magnus. The order ends a drama that began with a federal criminal investigation of Holmer and included a guilty plea by the landlord for bank fraud, followed by several lawsuits filed by Holmer's lenders and financial partners.
