MELLON BANK v. MIDWEST BANK & TRUST

No. 1-91-3648.

638 N.E.2d 640 (1993)

265 Ill. App.3d 859

202 Ill.Dec. 772

MELLON BANK, N.A., Plaintiff-Appellant/Cross-Appellee, v. MIDWEST BANK & TRUST COMPANY, as Trustee under Trust No. 85-02-4625, et al., Defendants (Waveland Associates—Phase I Limited Partnership, Defendant-Appellee; Development Management Group, Inc., Defendant-Appellee/Cross-Appellant).

Appellate Court of Illinois, First District, First Division.

May 3, 1993.


Attorney(s) appearing for the Case

Sidley & Austin, Chicago (Gerald L. Angst, Lisa A. Hausten, Robert T. Biskup, of counsel), for plaintiff-appellant/cross-appellee.

Pope & John, Chicago (William R. Quinlan, Bruce R. Meckler, Brian J. Williams, of counsel), for defendant-appellee.

Rudnick & Wolfe, Chicago (Theodore A. Shapero, David G. Lynch, of counsel), for defendant-appellee/cross-appellant.


Justice BUCKLEY delivered the opinion of the court:

Plaintiff Mellon Bank, N.A. (Mellon) filed this action to foreclose a 1989 mortgage on the "New York," a high-rise apartment complex located at 3660 North Lake Shore Drive in Chicago, which is beneficially owned by the mortgagor/defendant, Waveland Associates-Phase I Limited Partnership (the Phase I Partnership). As part of this action, Mellon moved pursuant to the Illinois Mortgage Foreclosure Law (the IMFL) (Ill...

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