U.S. Bank is quietly shopping a luxury condominium inside Chicago’s landmark Tribune Tower after the unit was forfeited in a court-ordered sale tied to criminal charges against its former owner. The 3,500-square-foot, three-bedroom condo sits on the 20th floor at 435 North Michigan Avenue and includes a balcony overlooking the Chicago River. The lender’s move comes as the condo’s previous owner, Sameer Suhail, faces federal charges alleging his role in a multi-million-dollar billing scheme at Loretto Hospital.
Bank puts forfeited unit on the market
According to The Real Deal, U.S. Bank, which took title after a 2025 court-ordered forfeiture, has sent the condo back to market and brought in a foreclosure specialist to move it. There is no set asking price, and the outlet notes the unit first sold for roughly $4.69 million in 2021 before Suhail purchased it for about $4.3 million in 2023. Broker Ryan Smith of Re/Max Premier is handling the transaction for the lender, according to the report.
Indictment and court status
A press release from the U.S. Attorney’s Office details a second superseding indictment that accuses Suhail and co-defendants of submitting fraudulent invoices and diverting more than $15 million in hospital funds, with counts that include wire fraud and money laundering. After returning to the United States from Dubai in April, Suhail pleaded not guilty and was released to home confinement on a $5 million bond, the Chicago Sun-Times reported.
How the condo went to foreclosure
A public judicial-sale notice shows the unit was forfeited in 2025, putting the property firmly in lender hands for disposition. That paperwork, along with the lender-led listing channel, means the condo is being marketed differently than a standard resale. Brokers say such listings often trade below recent retail prices. The unit’s recent sales history is summarized in reporting by The Real Deal.
Local market and building background
The Tribune Tower was converted into luxury residences by developers after the newspaper moved out, a makeover that keeps the address highly desirable even when the occasional distressed listing slips into the mix. Coverage of the building’s conversion and interiors has been documented by local real estate outlets, including Urbanize Chicago. The broader Loretto Hospital probe and resulting indictments have been tracked in local reporting, including coverage by WTTW, which has reported on the alleged scheme’s impact on the hospital and the Austin community.
Legal implications
The government’s charging papers outline counts that carry serious potential penalties if convictions are secured, and the U.S. Attorney’s Office reminds the public that an indictment is not evidence of guilt. Court dockets, forfeiture records and lender actions will be the paperwork buyers and title companies watch as the bank steers the property toward a sale.
