BOARD OF MANAGERS OF MEDINAH ON LAKE HOMEOWNERS ASS'N v. BANK OF RAVENSWOOD

No. 3-97-0230.

692 N.E.2d 402 (1998)

295 Ill. App.3d 131

229 Ill.Dec. 629

BOARD OF MANAGERS OF the MEDINAH ON the LAKE HOMEOWNERS ASSOCIATION, Plaintiff/Counter-Defendant, v. BANK OF RAVENSWOOD as Trustee under Trust No. 25-10165, et al., Third Party Plaintiff/Appellant, v. 120 NORTH LAKEVIEW DRIVE CONDOMINIUM BUILDING, et al., Third Party Defendants/Appellees.

Appellate Court of Illinois, Third District.

March 19, 1998.


Attorney(s) appearing for the Case

Donald J. Veverka (argued), Michael A. Haugh, Elizabeth Jurkacek, Chicago, for American National Bank and Bank of Ravenswood.

Marshall N. Dickler and James A. Slowikowski (argued), Marshall N. Dickler, Ltd., Arlington Heights, for 120 North Lakeview Drive Condo. Bldg. and Medinah on the Lake Homeowners Assoc.

Bruce A. Heidecke, Oakbrook Terrace, for 120 North Lakeview Drive Condominium.


Justice BRESLIN delivered the opinion of the court:

At issue is whether a purchaser of real property can develop property as an assignee of a declarant of a planned unit development (PUD) when it purchased the property through a foreclosure sale and did not receive a written assignment of rights. Based on the intent of the parties, we hold that the purchaser, plaintiff Bank of Ravenswood (Ravenswood), is a valid successor...

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