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MATTER OF 203 NORTH LaSALLE STREET PARTNERSHIP

No. 95 C 7144.

190 B.R. 595 (1995)

In The Matter of 203 NORTH LaSALLE STREET PARTNERSHIP, an Illinois limited partnership, EIN # 36-3287706, Debtor.

United States District Court, N.D. Illinois, Eastern Division.

December 19, 1995.

Attorney(s) appearing for the Case

Thomas S. Kiriakos, Mayer, Brown & Platt, Chicago, IL, for Bank of America Illinois.

Marc Wilkow, Chicago, IL, for 203 North LaSalle Street Partnership.

MEMORANDUM OPINION AND ORDER

PLUNKETT, District Judge.

Bank of America Illinois ("BAI") is owed in excess of $92.0 million by 203 North LaSalle Street Partnership (the "Debtor"), which debt is secured by a non-recourse mortgage on the Debtor's sole asset, the upper fifteen floors of office space in a Chicago central business district office building (the "Property"). The value of the Property now is approximately $38.0 million less than the amount...

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