“The U.S. Attorney’s Office here is looking into former Chicago Alderman Bill Singer’s role in a controversial Near North Side land deal in which a local medical school says it was cheated out of millions of dollars.
According to a legal malpractice suit the medical school filed last month against its former attorney, the attorney and Mr. Levine conspired to sell property at North Dearborn and West Oak Street to Smithfield at a price far under market value. The property, which once housed the Scholl College of Podiatric Medicine, is located in the heart of a fast-developing residential area where property values have been soaring. In the lawsuit, the school claims the property was worth “$6 to $9 million” more than the $15 million Smithfield paid.
A source close to the matter says Mr. Singer, a top national Democratic Party fund-raiser and former candidate for mayor, drew federal attention after political insider Stuart Levine recently began cooperating with federal officials on investigations on several matters in which Mr. Levine was involved.” Full article from Crains.