The Lakeshore Athletic Club near Millennium Park in Chicago closed Monday after an electric company shut off power at the club because of an unpaid bill.

The 120,000-square-foot Illinois Center club has failed to pay a bill of more than $200,000 to Commonwealth Edison Co., according to a report on ChicagoRealEstateDaily.com, a service of Crain’s Chicago Business. A sign on club’s door said the club closed due to “electrical and financial problems,” according to the report.

Walter Kaiser, one of the founders of Lakeshore Athletic Club, said in a statement on the club’s website that the Lakeshore Athletic Club-Illinois Center will soon be operating again, but he did not give a specific date.

“As all of you may have recently heard, Lakeshore Athletic Club-Illinois Center has most recently hit upon hard times due to the economy,” Kaiser said in the statement. “I want to extend my deepest apologies for the inconvenience to your lifestyle this may have caused.”

This is the latest setback for Lakeshore Athletic Club, which still faces a $26.9 million foreclosure lawsuit that was filed last year. Lakeshore Centre Holdings LLC, parent company of Lakeshore Athletic Club, closed two clubs in the past four years and sold off its Lincoln Park club in December. The company also has settled an eviction lawsuit that alleged more than $250,000 in rent was unpaid.

The company is directing members to work out at Lakeshore Sport & Fitness, formerly known as Lakeshore Athletic Club-Lincoln Park.