T
he former office of CKO Real Estate now displays a sign announcing the company's move, but rumors persist that it may still be operating under a new name. The Chicago Crusader has learned that the new company has hired several former CKO employees, including Simeon Pawletki, who was director of leasing at CKO.
Pawletki had a close relationship with ousted CEO Chikoo Patel and is now working as a leasing agent for the new firm. Sources say he's been showing properties to new tenants in buildings on Paxton Avenue, where the company owns six apartment buildings. Another former employee, Jerome Faulkner, who served as property manager at CKO, also works for the new firm.
Faulkner is helping to steer tenants through the transition and has worked to wipe out some of their unpaid rent balances. However, another former key employee, Roseanne Veloz, who served as director of operations, failed to pay gas bills despite knowing residents were without heat.
The Crusader has also confirmed that Alpha and Omega, a maintenance company, is owed nearly $140,000 for unpaid work. Another contractor, Ismael, stopped working for CKO in December and is owed thousands of dollars for unpaid work. He's now out of work and talking to a lawyer.
CKO Real Estate operated 26 buildings in South Shore before investors permanently closed the company after one of its buildings caught fire on February 23. The company was accused of neglecting many of its properties, including those in Alderman Desmond Yancy's ward, which had numerous building code violations.
Investors fired CKO's remaining employees, including Pawletki and Faulkner, but it appears that some of them have been rehired by the new firm. Tenants in South Shore are concerned about the new company and its ownership structure, with many refusing to sign new leases or pay rent until they know more about the firm.
CKO's former CEO, Patel, was fired after investors discovered he allegedly stole nearly $4 million from the company. The Crusader has also reported on bounced checks sent by CKO to one maintenance firm, Maintenance, Inc., which is owed about $140,000 for unpaid work.
