Champaign architect, owner of apartments files bankruptcy

CHAMPAIGN — A Champaign architect has filed for personal bankruptcy, seeking to reorganize his finances under Chapter 11.

Gene T. Hardwick made the filing June 28 in U.S. Bankruptcy Court in Danville, listing assets of $9.62 million and liabilities of nearly $9.33 million.

A meeting of creditors has been scheduled for 11 a.m. Thursday in Room 208 of the Federal Building in Danville.

Nearly $9 million of the assets Hardwick listed were in real estate, including:

— Office buildings at 9 and 11 E. University Ave., C.

— A 48-unit apartment building at 407 E. University Ave., C.

— An 18-unit apartment building at 201 S. Wright St., C.

— An 18-unit apartment building at 409 W. Green St., C.

— A four-unit apartment building at 104 Buena Vista Drive, C.

Hardwick also listed his residence at 706 Fairway Drive, C, as well as an unimproved lot at 607 E. Park St., C; and partial interest in unimproved lots in Douglas, Mich., and mountain land in Kentucky.

Longview State Bank in Sidney filed a mortgage-foreclosure complaint last October involving the four apartment buildings, the office buildings on University Avenue and some property on East Park Street. Hardwick was named as a defendant in that complaint.

According to the bankruptcy filing, slightly more than $9 million of Hardwick's liabilities were owed to creditors holding secured claims.

Another $153,000 was owed in Champaign County real-estate taxes, which are categorized as unsecured priority claims.

The filing also listed about $115,000 owed to creditors with unsecured nonpriority claims. The largest of those claims, $78,241, was owed to Dr. Ted Meyer of Johns Island, S.C.

According to the bankruptcy filing, Longview State Bank held first mortgages on the University Avenue buildings and the Buena Vista and Park Street properties. It held second mortgages on the apartment buildings on Wright Street, Green Street and University Avenue.

Together, those claims totaled more than $6 million, with only $426,000 of that unsecured.

Prospect Bank, Champaign, held the first mortgages on the Wright Street, Green Street and University Avenue apartment buildings. Those claims totaled more than $2.7 million, and all of that was secured.

In the filing, Hardwick identified himself as an architect who has been self-employed for 39 years. Among his personal property, he listed a 2010 GMC Yukon valued at $50,000, half-interest in a 2008 Mercedes CLK 350 convertible, an "antique junk car collection" valued at $13,000 and a sailboat and trailer.

In the filing, he said he has claims against Longview State Bank alleging commingling of funds, breach of contract and business interference fraud.

A message left Monday for Hardwick was not returned. Barbara Delanois, an attorney representing Longview State Bank, declined to comment.

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parkmymeterelsewhere wrote on July 19, 2011 at 10:07 am

downtown C-U; uptown C-U; leftown Urbana; outtown Urbana; you're all next in line.

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