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CENTERPOINT PROPERTIES v. OLDE PRAIRIE

No. 1-09-1481.

923 N.E.2d 878 (2010)

CENTERPOINT PROPERTIES TRUST, a Maryland Real Estate Investment Trust, Plaintiff-Appellee, v. OLDE PRAIRIE BLOCK OWNER, LLC, an Illinois Limited Liability Company; et al., Defendant-Appellant (Metropolitan Pier and Exposition Authority, a Municipal Corporation; Midland Multi-Family Equity Reit; Jerry Iseberg a/k/a Jerrol Iseberg; Karl S. Norberg; City of Chicago, a Municipal Corporation; Maria Pappas, Treasurer and Collector of Cook County, David Orr, Cook County Clerk; Lake Side Parking, Inc., an Illinois Corporation; Divane Bros. Electric Co., a Delaware Corporation; Lakeside Place Owner, LLC, an Illinois Limited Liability Company; Lakeside Place, LLC, a Maine Limited Liability Company; Olde Prairie Avenue LLC, an Illinois Limited Liability Company; Olde Prairie Owner, LLC, an Illinois Limited Liability Company; Pamela W. Gleichman; Unknown Occupants; Unknown Owners; and Non-Record Claimants, Defendants).

Appellate Court of Illinois, First District, Third Division.

February 10, 2010.

Attorney(s) appearing for the Case

Walker, Wilcox, Matousek, LLP, Chicago (Neil E. Holmen and William P. Zeller, of counsel), Righeimer, Martin & Cinquino, P.C., Chicago (Leo N. Cinquino, of counsel), for Appellant.

Richmond, Breslin, LLP, Chicago (Barry A. Erlich, of counsel), for Appellee.

Justice QUINN delivered the opinion of the court:

Defendant, Olde Prairie Block Owner, LLC (OPBO), appeals from an order of the trial court denying its motion to stay enforcement of the court's previous order appointing a receiver in the mortgage foreclosure proceeding brought by plaintiff, CenterPoint Properties Trust (CPPT). On appeal, defendant contends that it has established good cause why it should remain in possession...

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