Developers lose property, still owe $7.2 million
Even after the bank bought the property, area development companies and a North Hudson man owe over $7.2 million in four foreclosure judgments.
St. Croix County Judge Edward Vlack found the $10 million bid by Citizens State Bank, 375 Stageline Road, Hudson, represented fair values in the foreclosure sales.
Last week, the bank docketed judgments totaling $7,240,247 against BrightKeys Real Estate LLC, BrightKeys Development Corp., BrightKeys Housing Partners LP, ConSpec Corp. and C.R. Hackworthy II.
The cases involve property in the Heritage Greens and Bieneman Farm developments in Hudson, Boulder Ridge development in River Falls and Walnut Hill development in the town of Troy.
According to the foreclosure judgments, the total amount owed in the four cases was $17,298,847. Citizens bid a total of $10,058,600, leaving deficiencies of $7,240,247.
These are the properties and values involved in each case: