Perhaps this is just my inner poverty showing, but how does something like this even happen, from a monetary perspective? I'm assuming the owners had investors or loans or some other financial reasons that would prevent them from spending a lot of money and then simply parking it forever. And wouldn't property taxes or city nuisance abatement fines nibble away at the property over the years? It can't be completely fr…
Organizations with more lucrative things to spend their man hours on tend to let abandoned projects just sit rather then liquidate them because the ROI of whatever they usually do is better than the ROI of liquidating a failed project. Property tax and other upkeep costs often wind up buried somewhere in a long list of similar costs from all the other real-estate the organization owns or leases or has to otherwise pay for. Things tend to finally get liquidated when a property needs to be sold or turned over like happened here.