Downtown Cleveland apartment building in foreclosure months after fire

CLEVELAND, Ohio (WOIO) – The Luckman Apartment building, which weeks ago was just the site of a massive fire, is now facing foreclosure.

According to court documents, the owners of the building, Marlin Springs, haven’t been making payments on a large loan since April.

On April 23, 2018, Sphere Apartments, LP, which is owned by Marlin Spring, took out a loan of $35,900,000

A loan company, BSPRT JPM Loan, LLC says Marlin Springs now owes over $30 million in debt.

In April, residents at the Luckman, which is located on East 12th and Chester Avenue, were evacuated due to a trash chute fire.

People were not able to escape because the doors were screwed shut. Firefighters had to break down doors to fight the fire.

The Cleveland Division of Fire then cited the building management for multiple violations.

The fire costs owners about $450,000.

19 News reached out to the Luckman, which has 411 units, to find out what the foreclosure means for residents.

Will they be able to stay in their apartments? Do they need to find a new home? We were told “no comment”.

When 19 News called the owners, Marlin Springs, we were able to leave a message, but have not heard back.

There has not been any information released about who could next own the building.

Copyright 2024 WOIO. All rights reserved.