Last month the question in South Bend was ‘should’ the Chase Tower be sold; Now, it’s ‘can’ the Chase Tower be sold.

A written statement was released to News Center 16 on Tuesday afternoon. The statement is signed by Brent Sheppard and seven more Chase Tower tenants and it reads: “…we are being told that numerous interested parties have had their "Offers to Purchase" rebuffed because no one will accept the offers and no real estate agent can even list the building for sale.”

In January, a proposal to sell South Bend’s tallest office building to a Chicago area businessman fell apart when the city council refused to contribute $5.7 million to the project.

The next attempt to sell the Chase Tower is scheduled to take place Wednesday morning in court.

"We formally and publicly ask all parties concerned with this property to allow this building to be sold so that it can be renovated and cared for our good and the good of the entire community,” reads the tenant statement.

The tenants go on to say they have been patient but that their “patience is running out.”

One tenant today told News Center 16 that some in the building are withholding rent payments, while others are seeking to renegotiate leases.

That tenant tells News Center 16 that only one of the building’s four elevators was working last Friday.

On Wednesday morning, a judge is slated to hear arguments for and against a motion to list the Chase Tower for sale with a Colorado based sales agent and to allow that agent to market the property. The agreement calls for a three percent sales commission should HREC Investment Advisors find a buyer, and the listing would run until mid-May.

The listing price would be $6.5 million.

“The listing price is too low,” according to court documents filed by those who oppose the motion. “The listing price is not sufficient to pay the judgment held by Huntington National Bank against the defendants.”

Court documents allege that the original judgment, when combined with liens, back taxes and penalties is closer to $8.1 million.

Furthermore, opponents claim that the building can’t be sold because Huntington National Bank nor the receiver for the Chase Tower holds legal title to the building.

Court documents allege that a transfer of title can only take place “unless and until the real estate is sold at a Sheriff’s Sale.”

Opposition to the listing agreement comes from the former Chase Tower ownership group, known as Dillingham Hill, RE, LLC, including Damian Pettinelli and John C. Hartnett.

Sources say the same former principals offered $7.3 million for the building last September, but were not able to complete the deal.