There are a number of properties that are being foreclosed which belong to develop RJ York. The foreclosure is being hastened by Heartland Bank as well as Frontenac Bank. The former has moved foreclosure proceedings on 8 condos that remain unsold which are located at Clayton Park Place. This was a 14-unit luxury condo development that cost as much as $25 million. In the case of Frontenac Bank, it has foreclosed an office building that is owned by RJ York. This is located at 8829 Maryland and is the global headquarters of RJ York. This had been bought for $1.4 million in 2003 by RJ York.

The chapter 11 bankruptcy filing by RJ York had happened on Feb 2. This reflects the true state of the properties that are held by RJ York. It also represents the fall out f financial favor of a company that used to pride itself on the quality of its buildings and its superior workmanship. It seems that with the recession, the appreciation for such quality and high priced workmanship has come down. The lower demand for such porpoise has led to the bankruptcy of RJ York. This is indeed a sign of the times and the tough conditions that have befallen many developers.

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