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Zora Owner Edwin Allen III Faces Foreclosures with Almost $3 Million in Unpaid Debts

CEO Khai Intela
Des Moines landlord and bar owner Edwin Allen III is in a precarious situation. With nearly $3 million in outstanding debts, he now faces foreclosure on several properties. The First National Bank of Ames has...

Edwin Allen III

Des Moines landlord and bar owner Edwin Allen III is in a precarious situation. With nearly $3 million in outstanding debts, he now faces foreclosure on several properties. The First National Bank of Ames has initiated foreclosures on three Des Moines properties and two properties in Waukee. Allen's financial troubles are piling up, and the consequences could be dire.

Des Moines Properties in Foreclosure

An apartment building at 1721 Pleasant St. in Des Moines is one of five properties owned by Edwin Allen III that are now in foreclosure.

The properties facing foreclosure include two on Ingersoll Ave. and an apartment building on Pleasant St., all in Des Moines. Additionally, a home and duplex in Waukee are also at risk. The overdue debts on Allen's mortgage loans amount to more than $1.8 million, plus interest. Furthermore, Allen is in default on a cross-collateralization loan, with a remaining debt of over $1 million on all five properties.

Even Allen's signature establishment, Zora Bar and Rooftop, is not spared. Despite being closed since the summer, it remains in Allen's possession. However, a tax sale investor paid off almost $9,800 in overdue property taxes last November. If Allen fails to repay the investor, the property could change hands in June 2025.

Legal Challenges and Troubles Mounting

An apartment building at 3612 Ingersoll Ave. in Des Moines is one of five properties owned by Edwin Allen III that are now in foreclosure.

Allen's financial woes are only part of his problems. Legal challenges are mounting against him, ranging from police investigations to criminal charges. The closure of his custom-built, multi-level bar, located at the corner of Ingersoll and Martin Luther King Jr. Parkway, brought a wave of trouble. Allen faced allegations of conspiring with fellow bar owner Steve McFadden to stalk McFadden's ex-girlfriend using a GPS device planted in her car. Last April, Allen pleaded guilty to misdemeanor disorderly conduct, while McFadden faced harassment and unauthorized placement charges.

Aside from legal challenges, Zora and Allen faced severe criticism on social media due to violent incidents, including a shooting death on its premises. Despite attempts to sell Zora for $4 million last year, Allen failed to find a buyer.

Uncertain Future

A building that formerly housed a dry cleaning store at 3604 Ingersoll Ave. in Des Moines is one of five properties owned by Edwin Allen III that are now in foreclosure.

Allen's legal battles are not yet over. With his attorney suspended, he has 30 days to find new legal representation or face sanctions in the nuisance case with the city of Des Moines. Allegations of maintaining a disorderly house at Zora also add to his legal entanglements.

Moreover, Allen has unresolved civil cases, such as a lawsuit filed by former tenant Cyndi Collins under Iowa's Civil Rights Act. Collins accused Allen of demanding sexual favors in exchange for a rent reduction. While Allen resolved harassment claims from other tenants with a guilty plea to disorderly conduct, the legal consequences continue to mount.

The future looks uncertain for Edwin Allen III as he grapples with massive debts, foreclosures on his properties, and numerous legal challenges. Only time will tell if he can find a way out of this complex web of troubles.

Caption: Edwin Allen III faces numerous legal challenges and the impending foreclosure of his properties.

Images source: SaigonIntela.vn

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