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Common faces foreclosure on Chicago condo

Commfaces foreclosure suit involving Chicago condo. AP photo

Common faces a foreclosure suit involving a Chicago condo. AP photo

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Updated: August 25, 2012 6:07AM

The rapper Common now has something in common with many other Americans — he’s a defendant in a foreclosure suit.

Bank of America has filed suit against the Chicago-born artist and his manager, accusing them of failing to make monthly payments since March on a Near South Side condo. The suit said they owe $345,389.52.

The suit names Common by his real name, Lonnie Lynn, and manager Derek Dudley. The condo is at 100 E. 14th St. in a building known as 1400 Museum Park.

A publicist for Common said in an emailed statement, “The Chicago property is not being foreclosed on. They have reached an agreement to sell the property to an individual with a closing date set for early August. Bank of America is aware of this fact.”

Records show Lynn and Dudley paid $402,000 for the condo in June 2008 and financed the deal with a mortgage of $361,511.

Two years ago, Common listed the two-bedroom, two-bath condo for rent, asking $2,500 per month.

The rapper and actor is one of the Sun-Times’ rotating celebrity columnists on the Daily Splash page. His most recent column appeared in Monday’s paper.

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