Credit union looks to sell Iowa City high-rise properties after failed sheriff’s sale

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IOWA CITY — The credit union that acquired a group of downtown Iowa City high-rise buildings — including the Chauncey — when a sheriff’s sale failed to produce any bids, is working on a plan to sell the properties.

Earlier this year, a Johnson County judge ruled in favor of GreenState Credit Union, which filed a petition in February to collect a debt of loans for real estate projects related to developer Marc Moen and “his family members and friends,” totaling about $28 million, according to court documents.

A sheriff’s sale last week attempted to sell three of the properties:

The Chauncey, 404 E. College St.

Plaza Towers, 221 E. College St.

Park@201, 201 E. Washington St.

No one bid on t