Topical and timely, In re Hitz, 2020 WL 2924523 [Bankr. N.D. Ill. 2020] presents as a useful quarantine-era case that interprets the scope of a force majeure clause in a restaurant lease. The debtor filed for bankruptcy protection in mid-March 2020 after failing to pay rent for that month. The creditor moved to modify the …
Tag Archives: lease
New Lessor’s Vie for Radio Station Tenant’s Past-Due Rent Squelched – IL First Dist.
Soon after buying the commercial premises, the new landlord in 1002 E. 87th Street, LLC v. Midway Broadcasting Corporation, 2018 IL App (1st) 171691 started giving the radio station static over past-due rent that was owed to the prior landlord. The defendant’s silence in response spoke volumes and the dispute swelled to an irreconcilable impasse. …
The Illinois Commercial Real Estate Broker’s Lien Statute: A Top 10 List
The Illinois Commercial Real Estate Broker’s Lien Act, 770 ILCS 15/1 (the “Act”), provides a broker whose owed commission money with a strong remedy against a breaching property owner, buyer or tenant. Here are some of the Act’s key provisions: 1. What It Applies To: “Commercial real estate.” This is defined as any real estate in Illinois other than (i) real …
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