A Northwest Side bank whose owners have long ties to City Hall is suing Ald. Edward M. Burke’s son and daughter-in-law for more than $600,000 over a failed development on the Southwest Side.
Belmont Bank’s owners include zoning attorney James Banks, a nephew of retired Ald. William Banks; trucking magnate Fred B. Barbara, a friend of former Mayor Richard M. Daley who got rich hauling the city’s garbage, and former state Sen. James DeLeo.
The bank says Edward M. Burke Jr., an assistant chief deputy to Cook County Sheriff Tom Dart, and his wife Jacqueline Burke, who works for the clout-heavy United Neighborhood Organization, are on the hook for a loan they and two other couples got from the bank four years ago to redevelop the shuttered Froedtert Malt factory in the 2100 block of West 51st Place.
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