When Xiao Hua “Edward” Gong was arrested and tried for running a pyramid scheme and laundering money, the U.S. government seized his American properties. Among the millions of square feet are some eye-catching commercial real estate, like a huge Detroit-area hotel, an even-bigger former factory and a majority share of a historic office building in Downtown Chicago.
Those assets are going on the market now, and the seller is as reliable as they come.
“With government-owned assets, the properties are definitely going to sell,” Real Look Vice President of National Development Justin Ochs said. “Inspection and closing windows are relatively short, so you know you have a seller in the marketplace ready, willing and able to sell the property.”