When a deal to sell two industrial buildings collapsed, the would-be buyer sued to recover his $10K earnest money deposit. The seller, thinking the buyer was to blame for the aborted contract, countersued for $300K – the difference between the sale price plaintiff was supposed to pay and for what the seller ultimately sold the …
Category Archives: Real estate litigation
Commercial Landlord’s Suit for Rent Damages Accruing After Possession Order Survives Tenant’s Res Judicata Defense
18th Street Property, LLC v. A-1 Citywide Towing & Recovery, Inc., 2015 IL App (1st) 142444-U examines the res judicata and collateral estoppel doctrines in a commercial lease dispute. The plaintiff landlord obtained a possession order and judgment in late 2012 on a towing shop lease that expired March 31, 2013. About six months after the possession order, the lessor sued …
Commercial Landlord Not Entitled to Double Rent Under Holdover Statute Where Tenant Had Legitimate Belief It Had Right to Possess Space – IL 1st Dist.
I’ve written on here before about how a tenant holding over after a lease expires can lead to a serious case of option paralysis for the landlord. Questions abound in rapid-fire fashion: should the landlord accept the holdover and continue the lease on the same terms as before? Should the landlord seek double rent under the forcible statute? Should …