Braman v. Woodfield Gardens Associates

ORDER

BUA, District Judge.

Realcorp, Inc. (“Realcorp”), an Illinois corporation, specializes in forming limited partnerships for the purpose of investing in or acquiring residential properties. Real-corp then sells interests in the partnerships it creates. In late 1984, Realcorp’s officers — Allen Perres, William Dec, and Edward Niziol — organized a partnership called Woodfield Gardens Associates (“Woodfield Gardens”), which acquired and operated an apartment complex in Rolling Meadows, Illinois. Realcorp then offered to sell an interest in Woodfield Gardens to Braman-Leibowitz Associates No. 2…