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GREER PROPERTIES, INC. v. LaSALLE NAT. BANK

No. 88-2188.

874 F.2d 457 (1989)

GREER PROPERTIES, INC., a Delaware corporation, Plaintiff-Appellant, v. LaSALLE NATIONAL BANK, a national banking corporation acting as trustee u/t/a No. 107486 and Old Orchard West Venture, an Illinois General Partnership, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided May 5, 1989.

Rehearings Denied June 15, 1989.

Attorney(s) appearing for the Case

Robert J. Trizna, Trizna & Lepri, Chicago, Ill., for plaintiff-appellant.

Louis R. Hegeman, and Jay D. Stein, Gould & Ratner, Chicago, Ill., for defendants-appellees.

Before WOOD, Jr., POSNER, and FLAUM, Circuit Judges.

HARLINGTON WOOD, Jr., Circuit Judge.

This is a contracts case arising from efforts to develop a piece of commercial real estate located near the Edens Expressway in Skokie, Illinois. Four local developers formed a partnership called Old Orchard West Venture ("Old Orchard") and acquired the real estate parcel in 1984. Legal title to the real estate is held in the name of LaSalle National Bank ("LaSalle"), as trustee. In 1987, Old Orchard and LaSalle ("Sellers") entered...

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