800 South Wells Commercial LLC v. Cadden

Illinois Appellate Court
Civil Court
Summary Judgment
Citation
Case Number: 
2018 IL App (1st) 162882
Decision Date: 
Wednesday, May 9, 2018
District: 
1st Dist.
Division/County: 
Cook Co., 3rd Div,
Holding: 
Affirmed.
Justice: 
FITZGERALD SMITH

Plaintiff, a manager-managed Illinois LLC, was formed to obtain a leasehold interest in River City Complex's commercial space and parking garage. Plaintiff's manager and member appointed Defendant to be Plaintiff's vice president. Within 4 years, Plaintiff defaulted on both its mortgages. Plaintiff claimed that Defendant owed it fiduciary duties only because he held title of vice president. Court properly granted summary judgment for Defendant, as there was no evidentiary basis to demonstrate that Defendant owed Plaintiff any fiduciary duty or, alternatively, that Defendant breached such a duty.(HOWSE and LAVIN, concurring.)