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SUTTON PLACE DEV. CO. v. BK. OF COMMERCE & INDUSTRY

No. 84-2976.

149 Ill. App.3d 513 (1986)

501 N.E.2d 143

SUTTON PLACE DEVELOPMENT CO. et al., Plaintiffs, v. BANK OF COMMERCE AND INDUSTRY et al., Defendants (Abacus Mortgage Investment Co., Cross-Claimant and Counterdefendant-Appellant; Bank of Commerce and Industry, Cross-Defendant and Counterplaintiff-Appellee).

Appellate Court of Illinois — First District (4th Division).

Rehearing denied December 19, 1986.

Attorney(s) appearing for the Case

D'Ancona & Pflaum, of Chicago (Roger L. Price and Gary E. Mitchell, of counsel), for appellant.

Beermann, Swerdlove, Woloshin, Barezky & Berkson, of Chicago (Alvin R. Becker and Steven P. Garmisa, of counsel), for appellee.

Affirmed in part and reversed in part and remanded.

JUSTICE JOHNSON delivered the opinion of the court:

Counterplaintiff, Bank of Commerce and Industry (BCI), brought an action in the circuit court of Cook County, seeking specific performance of a contract that allegedly obligated counterdefendant, Abacus Mortgage Investment Company (Abacus), to purchase all of BCI's interest in a Florida condominium development, known as Sutton Place. The trial court granted...

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