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ndrew and James Vaccaro, investors who have been expanding their office holdings in Greektown, are facing another challenge from Marc Realty. The Chicago-based commercial real estate firm, led by Larry Weiner and Jerry Nudo, claims the Vaccaros defaulted on a ground lease at 850 West Jackson Boulevard. According to the lawsuit filed by Marc Realty, the Vaccaros failed to pay $404,000 in property taxes and racked up around $2 million in liens from contractors and business services companies.

    The delinquent payments allegedly constitute a default on the ground lease, which the Vaccaros bought from Marc Realty in 2016. The lawsuit seeks to take over the leasehold ownership, which was secured by a $39 million loan with Huntington Bank in 2019. However, since Huntington did not step in to resolve the delinquent payments, Marc Realty claims it has the right to seize the building.

    This is not the first time the Vaccaros' Greektown properties have faced financial and legal issues. Last year, Aflac filed a $36 million foreclosure lawsuit against them for failing to pay off a loan backed by office buildings in the area. The lender is also seeking personal judgments against the Vaccaros.

    Marc Realty itself is facing multiple lawsuits totaling around $60 million in disputed funds. The firm has been dealing with post-pandemic office distress, including losing a 124-year-old Loop office property to a lender's foreclosure lawsuit last year.