Wolford v. James E. Kolls Investment Co.

Defendant-seller, James E. Kolls Investment Company, appeals from the judgment of the trial court granting plaintiff-buyer, George J. Wolford, specific performance of a real estate sales contract entered into by the parties.

The subject property is a parcel of land located in Dixon, Illinois, upon which is situated a building containing a laundromat. The land and building are owned by defendant while the laundromat business and equipment are owned by a tenant, James L. Thomas. In late March 1974 the parties orally agreed that plaintiff would purchase the subject property from defendant for *55,000…