Nevin's Brewing Owners Face Foreclosure; Plainfield Restaurant Not Part of Lawsuit

Editor's note: Angela Sykora contributed to this report.

Last summer, the owners of the Tommy Nevin's chain purchased a Plainfield strip mall that was in jeopardy after its owner filed for bankruptcy.

Now, the business owners are facing some troubles of their own, and are working to settle a $5.5 million foreclosure lawsuit from Bank of America for allegedly missing several monthly mortgage payments that were due on two loans, reports ChicagoRealEstateDaily.com.

Nevin's Brewing Company, which opened last year in the Plainfield strip mall, along with businesses in Frankfort and Willowbrook, are not part of the suit. 

The owners of the Naperville pub, 3032 English Rows Ave., and Evanston location say they are still making payments and both establishments are doing well financially, according to the story. 

Asked about the foreclosure suit and whether it will have any impact on the Plainfield location, owner Steve Cin told Patch he had no comment. However, according to ChicagoRealEstateDaily.com, Cin said the case is "soft."

"We are still making monthly payments . . . and they are still cashing our checks," Steve Cin told the website. “Both (locations) are healthy and doing well as far as sales.”

In an email to Patch, Cin stressed, "We are NOT going bankrupt."

Cin said the mortgage on the Naperville location expired May 30, and the Evanston location does not mature until November. 

"Both properties are crossed collaterized so they need to be paid off together," Cin wrote. "With that said, they (Bank of America) wants to charge us a prepayment penalty for Nevin's Evanston (Appox $100K+)  that we are not willing to pay. We have provided BOA with loan commitment letter for both properties and we are waiting for them to release the prepayment charge. We have never missed a monthly payment over the term of either loan."

As for the Plainfield location, "It's still rockin'," Cin told Patch.

A Sept. 5 hearing has been scheduled.

Read the full story at www.chicagorealestatedaily.com.

Plainfield location anchors shopping center

 
The Plainfield Nevin's location opened in December 2012 after the Nevin's owners purchased the entire strip mall and took over the leases of existing tenants. Previously, the strip mall was anchored by Limestone Brewing, and was owned by the now-defunct Ardmin Properties.

Since being purchased by the Nevin's group, the shopping center has welcomed several new businesses, including Frank's Night Out (which is owned by Nevin's chef Marcus Mooney) and Twist Yoga Lounge.

Nevin's Brewing has also hosted several successful events, drawing large crowds, such as the July 20 Vanilla Ice concert.