Lamar Advantage G.P. Co., L.L.C. v. Addison Park District

In 1987, the plaintiff, Lamar Advantage G.P. Company, L.L.C., entered into a 15-year lease agreement for the purposes of erecting and maintaining a billboard on property located in Addison. In October 1998, the defendant Addison Park District (the District) acquired the property, subject to the lease, from the lessor. In July 1999, the District and the defendant the Village of Addison (the Village) entered into an agreement that annexed the property into the Village. The annexation agreement indicated that the District would terminate the plaintiffs billboard lease at the end of its term. The…