Kopley Group v. Sheridan Edgewater

State: Illinois

Court: 1st District Appellate

Docket No: 1-06-1373 Rel

Case Date: 09/07/2007

Preview:FIFTH DIVISION September 7, 2007

No. 1-06-1373

KOPLEY GROUP V., L.P., an Illinois Limited Partnership, as Beneficiary Under Chicago Title and Trust Company Trust No. 1106522, dated November 4, 1998, and THE KOPLEY GROUP, INC., an Illinois Corporation, Plaintiffs-Appellants, v. SHERIDAN EDGEWATER PROPERTIES, LTD., VRANAS AND ASSOCIATES, LTD., an Illinois Corporation, a/k/a Vranas and Chioros Realty Group, Inc., WILLIAM P. VRANAS, Individually, MICHAEL M. CHIOROS, Individually, and JOHN P. VRANAS, Individually, Defendants-Appellees.

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Appeal from the Circuit Court of Cook County

Honorable Paddy H. McNamara, Judge Presiding.

JUSTICE GALLAGHER delivered the opinion of the court: Plaintiffs, Kopley Group V., L.P., an Illinois limited partnership, as beneficiary under Chicago Title and Trust Company Trust No. 1106522, dated November 4, 1998, and The Kopley Group, Inc., an Illinois corporation, appeal from an order of the circuit court of Cook County granting summary judgment in favor of defendants, Sheridan Edgewater Properties, Ltd., Vranas

1-06-1373 & Associates, Ltd., an Illinois corporation, a/k/a Vranas & Chioros Realty Group, Inc., William P. Vranas, individually, Michael M. Chioros, individually, and John P. Vranas, individually. We affirm in part, reverse in part, and remand. BACKGROUND This case involves the sale and purchase of real property commonly known as 5200 North Sheridan Road in Chicago (the property) and allegations of misrepresentation, fraud and breach of contract. The property consists of an eight-story apartment building with 223 dwelling units and first-floor commercial space. The seller of the property is defendant Sheridan Edgewater Properties, Ltd. (the Seller). In 1996, the City of Chicago (the city) had an ordinance requiring routine inspections of the exterior facade on high-rise buildings (the Chicago facade ordinance). Chicago Municipal Code

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