Former home of Rainforest Cafe facing foreclosure

Anita, Sean Conlon did not want to go on camera, but when I spoke to him earlier today, he assured me that he plans on paying back what he owes here, and he seemed very confident that there was going to be some sort of an agreement or an arrangement where they could end this foreclosure hearing and come up with some kind of payment plan. What exactly that is, we don't know right now, but we obtained some court documents that show that Conlon's company back in January of 2024, applied for a commercial real estate loan. It was about $8.3 million. But then Conlon's creditor, in this case it's Aleko Lending, reported that Conlon's company defaulted on the payment, which Conlon personally guaranteed he would pay. And when I spoke with Conlon, he confirmed he does owe money. Court documents say that debt has since grown to about $9.2 million, including the original principal amount and then the interest that is built up over time. So Conlon confirmed to me he sold some of his assets out of state to get the capital necessary to pay off some of this debt. So besides Conlon facing this foreclosure, he told me it's been challenging trying to clean up the former Rainforest Cafe after Landry's closed the place during the pandemic in 2020. And if you notice what's been going on outside here, Conlon told me they've had to deal with crime on the property, including some break-ins of the former business. There's been squatters living inside. And Conlon said there is now some new fencing and cameras set up as a result right here. And you can see the fencing right behind me. And I also spoke with the lawyer representing the creditors. All they would tell me is that, yes, there is a court hearing tomorrow and that there is a court case going on regarding the former Rainforest Cafe, but they wouldn't comment any further. to keep this property if he doesn't lose the property due to foreclosure here. But I asked him what he wants to put in this place. He said he envisions a high rise here, but certainly a lot has to happen tomorrow in court. We're live in River North tonight. Brett Boganski, Fox Chicago.