Why take out loans when you collect dues every month $11,549,543 in loans

One of Brandon Johnson's primary benefactors, SEIU HCIIMK union, owns a building under Halsted-Cermak LLC that has taken out $11,549,543 in loans

... why take out lonas when you collect dues every month ...

the Purpose of Halsted-Cermak LLC is to hold the real estate which the Union owns via the LLC. Halsted-Cermak LLC has status of INVOLUNTARY DISSOLUTION w/ Illinois Secretary of State for 1 yr while SEIU PACS was giving 1.7 million dollars to the Johnson campaign ...

was this just a shell company to real estate holdings for politics or some other scam ... are there any real estate lawyers that has seen stuff like this?

Question 11(b). Helen Miller Education & Training (METC) (EIN 26-0152335),2229 S Halsted, Chicago, IL 60608. The purpose of the Helen Miller SEU Member Education and Training Center is to provide education, training, and research to benefit low-wage childcare workers, home care workers, and other workers in related industries. The activities of METC are consolidated on this Form LM-2 Halsted-Cermak LLC 2229 5 Halsted Chicago, IL 60608.

The purpose of Halsted-Cermak LLC is to hold the real estate which the Union owns via the LLC. The activities of Halsted-Cermak are consolidated on this Form LM-2. CoRise illinois, 2229 S Halsted Chicago, IL 60608. The purpose of CoRise Illinois is organized exclusively for non-profit purposes supporting child care providers under section 501(c)(3) of the Internal Revenue Code. The activities of CoRise Illinois are consolidated on the Form LM-2 Question 12 An audit was performed by an accounting firm of Graff, Ballauer & Blanski, PC

Question 16 Halsted-Cermak LLC entered into an agreement with Amalgamated Bank of Chicago to obtain a mortgage in the amount of $13,293,750. To protect the security of the mortgage Halsted-Cermak LLC pledged the following collateral: Real property known as 2229 S Halsted Street, Chicago, IL 60608 and the assignment of rents and the security interest in the rents and personal property.

As of December 31, 2022, this property has secured loans in the amount of $11,549,543. Halsted-Cermak, LLC believes the estimated fair value of the property is approximate to the purchase of this property.


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