Bank of America v. 108 N. State LLC 

Illinois Appellate Court
Civil Court
Mortgage Foreclosure
Citation
Case Number: 
No. 1-09-3523
Decision Date: 
Wednesday, March 31, 2010
District: 
1st Dist.
Division/County: 
Cook Co., 3rd Div.
Holding: 
Affirmed.
Justice: 
QUINN
Court granted motion for appointment of receiver in mortgage foreclosure proceeding. Qualifications of current management are insufficient basis to find good cause to permit mortgagor to retain possession of "Block 37" retail space and underground pedway connecting to CTA trains. Statutory presumption in favor of commercial mortgagee means that Plaintiff is not obligated to allege or prove that Defendants were not properly managing property to be entitled to possession. Receiver's representation of current and prospective tenants in lease negotiations for subject property and for nearby competing properties does not constitute "good cause" under Mortgage Foreclosure Law.