Negotiations on Chase Tower underway

SOUTH BEND – The 25-story Chase Tower in downtown South Bend, the region’s tallest building, could receive major improvements if the South Bend City Council signs off in a proposal that includes $5.7 million from the city.

The building has been in receivership for nearly a year. It has just 22 tenants, most of whom have announced they will leave the building if needed repairs aren’t started soon.

The potential buyer, Satish Sunny Gabhawala, president and CEO of Care Hospitality, has signed an agreement with Huntington National Bank to take over the building. He has announced plans to invest $19 million in to rehabilitate the building, but the deal depends on the contribution by the city.

 

 

 

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