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FIRST AMERICAN BANK v. POPLAR CREEK, LLC

No. 1-19-2450.

188 N.E.3d 780 (2020)

2020 IL App (1st) 192450

FIRST AMERICAN BANK, an Illinois Banking Corporation, Plaintiff-Appellee, v. POPLAR CREEK, LLC, an Illinois Limited Liability Company; George A. Moser, an Individual; Douglas C. Altenberger, an Individual; George M. Moser, an Individual; Martin R. Walsh, an Individual; The Stonegate Conference and Banquet Centre, LLC, an Illinois Limited Liability Company; and Unknown Owners and Nonrecord Claimants, Defendants (George A. Moser, Douglas C. Altenberger, and George M. Moser, Defendants-Appellants).

Appellate Court of Illinois, First District, First Division.

Modified Upon Denial of Rehearing December 28, 2020.

Attorney(s) appearing for the Case

Cornelius P. Brown , Amy E. Daleo , and Scott M. Kaplan , of Cohon Raizes & Regal LLP, of Chicago, for appellants.

Eric P. Sparks , Mark D. Brookstein , and Justin W. Hanson , of Gould & Ratner LLP, of Chicago, for appellee.

OPINION

¶ 1 Poplar Creek, LLC (Poplar Creek), obtained an $8.1 million loan from First American Bank (First American) to develop a conference and banquet center in Hoffman Estates. A mortgage on the property and a security interest in a tax increment financing note ...

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