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CADLE PROPERTIES v. FORTUNE INVESTMENTS

No. 1-20-0556.

206 N.E.3d 909 (2021)

2021 IL App (1st) 200556

CADLE PROPERTIES OF ILLINOIS, INC., an Assignee of MB Financial Bank, N.A., Plaintiff-Appellee and Counter-Appellant, v. FORTUNE INVESTMENTS, LLC, an Illinois Limited Liability Company; M. Abdul Mathin; Anaa Holdings XI, LLC; Bass Financial Corp.; JPMorgan Chase Bank, N.A., Assignee of MERS, as Nominee for Countrywide Bank, N.A.; Nationstar Mortgage, LLC, as Assignee of MERS, as Nominee for Countrywide Bank, N.A.; Ben H. Arkes; PNC Bank, N.A.; Telesis Community Credit Union; Skokie Gardens Condominium Association; and Unknown Owners and Nonrecord Claimants (Fortune Investments, LLC, and M. Abdul Mathin, Defendants-Appellants and Counter-Appellees).

Appellate Court of Illinois, First District, First Division.

Filed June 7, 2021.

Attorney(s) appearing for the Case

John D. Silk , of Rothschild, Barry & Myers, LLP, of Chicago, for appellants.

Robert G. Markoff and Douglas C. Giese , of Markoff Law, LLC, of Chicago, for appellee.

OPINION

¶ 1 Fortune Investments, LLC (Fortune), borrowed $17 million from MB Financial Bank, N.A. (MB Financial), to construct a condominium development. Fortune's owner, M. Abdul Mathin, guaranteed the loan and completion of the project. Fortune defaulted and MB Financial...

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