Tim Ryan, tryan@shawanoleader.com
A Circuit Court judge last week granted the foreclosure of the Family Dollar property on East Green Bay Street, which was being purchased through a land contract by a subsidiary of the Samanta Roy Institute of Science and Technology.
In a separate civil suit, the court also granted foreclosure of nine residential lots and an outlot in the town of Wescott that were also being purchased on a land contract by the same subsidiary, Midwest Properties of Shawano, LLC.
The suit over the Family Dollar property at 229 E. Green Bay St. argued that Midwest defaulted on the land contract entered into with Julie Krueger, of Sayner, in November 2004 at a purchase price of $350,000. The agreement called for monthly payments until November 2007, when full payment was due, according to the suit.
Midwest does not operate the Family Dollar business, which is a tenant on the property. The business will soon be moving into the former Country Store property on South Main Street.
A separate suit filed by Fireside Construction and Electrical, of Sayner, and registered agent Brian Krueger contended that Midwest defaulted on a $300,000 land contract to purchase properties in the Wolf View Estates. That land contract was also entered into in November 2004. Full payment was due by November 2010, the suit alleges.
Shawano-Menominee County Circuit Court Judge William Kussel Jr. granted summary judgments in both cases on Friday.
Attorneys for Brian and Julie Krueger argued that Midwest had not “argued any genuine issues of material fact,” only denials.
Kussel rejected a motion from Midwest seeking more time to respond to the request for a summary judgment.
Midwest was given a seven-day redemption period during which they could still make good on the debt and keep the Family Dollar property. The subsidiary was given a 15-day redemption period on the Wescott residential properties.
It was the third foreclosure ruling against a SIST subsidiary this year.
In January, Midwest Properties lost a foreclosure suit in federal court on the downtown property housing the El Mariachi Cantina and Grill, 635 S. Main St. U.S. District Judge William Griesbach ordered the property sold to pay off the balance of a $311,000 land contract entered into by Midwest in July 2005. The unpaid balance, along with interest and other legal fees, came to $263,242, according to court documents.
In February, Kussel granted foreclosure of the Kiryat Hotel, owned by SIST subsidiary Midwest Hotels and Motels of Shawano, LLC. According to that suit, $664,212 was due on the land contract for that property.
In October 2012, SIST and its subsidiary U.S. Acquisitions and Oil lost the USA International Raceway in Wescott in a foreclosure sale.
In October 2011, two apartment buildings in Shawano being purchased on a land contract by Midwest Properties were sold off in a sheriff’s sale. Midwest entered into the contract in 2004, according to court records, agreeing to purchase the properties at 463 Humphrey Circle and 1024 E. Fifth St. for $575,000.