Concord Mall Buyers Issued $7M Judgment

(file photo courtesy of the Elkhart Truth)

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An Elkhart County Superior Court judge has issued a default judgment against the buyers of Concord Mall. The Elkhart Truth reports John Thomas, Daniel Olswang and Chicago-based Ton Real Estate Investments X LLC are being ordered to pay nearly $7 million after failing to pay what they owed for the mall property.

In July, Judge Teresa Cataldo declared Ton Real Estate in default after acquiring the mall property in February 2020. Thomas, Olswang and the company have been ordered to pay nearly $6.5 million to Concord Mall Properties LLC, which sold them the property, as well as more than $450,000 in interest, late fees and property taxes, plus $35,000 in attorney fees and other costs, according to the publication.

Concord Mall Properties was also given the chance to seek an order to sell the mall with proceeds being used toward unpaid property taxes and the amount owed in the judgment. The mall property has been under the control of South Bend-based Bradley Co. LLC since Cataldo’s July declaration. 

You can read the full story from the Elkhart Truth by clicking here.