Old Sherman Hospital campus in Elgin goes to lending company after owner loses it in foreclosure

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The former Sherman Hospital campus in Elgin is in the hands of a lending company after its owner agreed to relinquish control of the property during a foreclosure proceeding this week, Kane County records show.

Consisting of a 254,000-square-foot hospital building, parking lot and open land at 934 Center St., the campus had been sold to Chicago-based Freedom Development Group in 2019 after Advocate Health Care moved the hospital to a new location on Randall Road.Kane County court records show that the property went into foreclosure in March and no property taxes were paid this year.

Among the defendants listed in the foreclosure were John Thomas, founder of Freedom Development Group, and 901 Center Street Holdings LLC. Court records show that at one point, Thomas couldn’t be located for summons service.Thomas spent two years in federal prison on a 2015 conviction involving the theft of $375,000 in taxpayer money earmarked for a Riverdale marina development. He was convicted of fraud in New York under a different name in the early 2000s, according to a Chicago Tribune story.

The state of Illinois and the U.S. Army Corps of Engineers announced in 2020 that the former hospital would be converted into a temporary overflow facility to ease the COVID-19 case strain on area hospitals. Despite work that went into converting the building for that use, it was never occupied.Advertisement

 

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