Parkway Bank and Trust Co. v. Gleich

PRESIDING JUSTICE SCARIANO

delivered the opinion of the court:

Plaintiffs brought this action seeking damages from defendant for breach of a contract to purchase certain property held in a land trust. They appeal from an order of the circuit court granting summary judgment to defendant.

Plaintiff Charles P. Burtell was the sole general partner of Algonquin 33 Investment, an Illinois limited partnership, which was the beneficiary of two Illinois land trusts, Nos. 4297 and 4298, of which plaintiff Parkway Bank and Trust Company (Parkway) was the trustee. The trusts contained 72 parcels of vacant…