Circuit Court Judge Michael Gotsch appointed Castrop as the building’s receiver exactly one year ago today, according to court documents.
Chase Tower tenants began complaining publicly about its condition in September at a South Bend Common Council meeting. They acknowledged the receiver has been doing his best to maintain the building with operating revenue, but they said it needs additional investment, likely from a new owner.
James Masters, a Chase Tower tenant and attorney representing Dillingham Hill, said media coverage of the complaints has harmed efforts to sell it.
City officials also have pursued a public-private deal to subsidize a renovation.
They seriously considered an offer from Chicago-area developer Satish Gabhawala, who wanted the city to contribute $5.7 million toward what he said would have been a $19 million rehabilitation of the building.
Gabhawala backed off last month after a majority of council members, with support from Mayor Pete Buttigieg, voted to delay their decision until Feb. 27.
Buttigieg said at the time that the city needs more than one option to consider before spending tax dollars on Chase Tower. He said Wednesday that several people have expressed interest in the building during the past month.
The mayor added that the city isn’t committed to spending money on the building, and some interested investors aren’t necessarily asking for city involvement.
“I would like to see this done in a way that doesn’t require city resources,” he said.
At the same time, Buttigieg understands those who work in Chase Tower want to see progress as soon as possible.
“The tenants are getting impatient,” he said, “and so am I.”
The contract with HREC is written to expire no later than May 15.
Follow @KevinAllenSBT on Twitter.
Staff writer Kevin Allen:
kallen@sbtinfo.com
574-235-6244