Chicago, IL - The July 2, 2013 online edition of Crain's Chicago Business includes an article on Shareholder Robert McLaughlin's recent appellate victory in a Chicago real estate dispute. "Central Station Developers Lose Appeal Over Condo Deposits" also features a quote from Mr. McLaughlin.
Read "Central Station Developers Lose Appeal Over Condo Deposits" at chicagorealestatedaily.com, published by Crain Communications, Inc.
In a unanimous 3-0 decision on June 21, 2013, the Illinois Appellate Court (First District) affirmed a 2011 directed verdict ruling in favor of Segal McCambridge client and real estate investment group Richlin Partners, LLC against Chicago luxury high-rise condominium developer Grant Park 2, LLC. In September 2011, Mr. McLaughlin obtained a directed verdict in favor of his client in a breach of contract action against Grant Park 2, developer of the now failed One Museum Park West condominium building. Grant Park 2, LLC appealed the decision.
Mr. McLaughlin represents more than 20 other buyers who signed purchase agreements totaling in excess of $17,000,000 to buy condominium units in the One Museum Park West development. He has petitioned the Circuit Court to apply the holding of the Appellate Court to all of his pending One Museum Park West lawsuits involving the identical “form” contract.