Article

Lockwood Development Partners has defaulted on $44.2 million in debt for the redevelopment of the MetroSouth Medical Center in Blue Island, Illinois, amid ongoing financial troubles totaling $178 million. The firm, which had plans for senior and veteran housing, is facing a foreclosure complaint from lender Builders Capital after failing to meet the loan's maturity date. The project has stalled significantly, and Lockwood is now in the process of selling its assets, including the Blue Island site to a data center developer.