The Kunkel Group, a once prominent but recently financially troubled Evansville-based developer, has placed six of their properties up for sale through an online real estate sales firm. Mo
As Eyewitness News first reported earlier this month, the Kunkel Group is in default on city loans that amount to $460,000 plus interest, according to court records. The City filed a lawsuit against the Kunkel Group on Aug. 13th in Circuit Court. The loans were issued in December 2006 and went toward the mortgage that Kunkel's submitted to the City in June 2007. Nearly eight years later, Kunkel still owes nearly $530,000 on the loans after interest, according to court records. That's more than the original loan amount.
The properties that are now for sale include Park 41, the former Whirlpool plant. The asking price for that property is $1.9 million. The Court Building at 123 NW Fourth St., the Walker Building at 401 SE Sixth St., the Fendrich Plaza building at 100 E. Sycamore St., the Hulman Building at 20 NW Fourth St. and 109 NW Third St., and the Kunkel Square building at 329 Main St. are all for sale.
Representatives of the Kunkel Group did not respond to our phone calls Thursday.Vice President of Kunkel Group Adam Kunkel however sent the following statement:
"The sale is not related to the city lawsuit but simply a testament to the success of our properties. We are putting a portion of our portfolio on the market to set the stage for future developments locally and regionally."