Chicago Development Group Sonny Mehraban Misleading, Used our income, Mispresented the property, Neglection Oak Lawn, Illinois

1st of Jan, 2012 by User346818

We are investors who purchased and own 2 Chicago buildings thru Chicago Development Group- Sonny Mehraban.
Chicago Development Group (CDG) mislead us throughout the process, just so we buy those multifamily buildings. They presented us with wrong information about the buildings and very attractive figures, and made promises about high Return on Investment numbers.
CDG agreed to manage our buildings, as part of the deal. Soon after our purchase, evictions, violations, high maintenance costs started to appear. The buildings are not being treated as promised- Nothing had been done renovation wise, even though they presented us with Contractor Statement. CDG are using our income towards rehabbing units, never provided to us with Legal invoices for jobs that were done or to pay eviction legal fees.
We never get monthly reports on time. Our money (the little that remains) is being deposited to us 10 days later than due date. Checks of CDG are bouncing! We get property bills months after they were sent to CDG.
We are left in the dark for days weeks, when we enquire in regards to rents.
Mr. Mehraban comes across as a very honest individual. He owns a Lamborghini and Hammer from his previous business as a car dealer. He owns a nice house, he is welcoming and charming.
We lost a fortune from what was supposed to be a "positive cash business. BE AWARE.

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