Congress Theater Defaults on $4 Million Loan

Troubles continue for the Congress Theater and embattled owner Eddie Carranza, who was sued last week by the bank that holds the venue’s mortgage for defaulting on a $4 million loan. According to Jim DeRogatis at WBEZ, PNC Bank filed the lawsuit in U.S. District Court and is seeking to foreclose on the property. According to the 58-page lawsuit, the bank has been seeking repayment of the 2007 loan since August 2011. Carranza’s attorney told DeRogatis that this was a simple insurance placement issue that would be “straightened out in a week.” Our take? Enjoy this month’s Steve Aoki, Zeds Dead, and Porter Robinson shows at the Congress while you still can. The world may not end on 12-21-2012, but the end of the Congress may not be that far off.