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02/09/87 Richard C. G'sell, v. N.P. Associates

February 9, 1987

RICHARD C. G'SELL, PLAINTIFF-APPELLANT

v.

N.P. ASSOCIATES, LTD., ET AL., DEFENDANTS-APPELLEES



APPELLATE COURT OF ILLINOIS, FIRST DISTRICT, FIRST DIVISION

505 N.E.2d 1059, 153 Ill. App. 3d 171, 106 Ill. Dec. 268 1987.IL.143

Appeal from the Circuit Court of Cook County; the Hon. Arthur L. Dunne, Judge, presiding.

APPELLATE Judges:

Justice O'Connor delivered the opinion of the court. Quinlan, P.J., and Buckley, J., concur.

DECISION OF THE COURT DELIVERED BY THE HONORABLE JUDGE O'CONNOR

This is an appeal from a judgment declaring a written agreement null and void, barring enforcement of the agreement because of laches, ordering plaintiff to vacate an apartment in the building at issue, and denying defendants' claim for back rent and costs.

The record discloses plaintiff, Richard C. G'Sell (G'Sell), is a real estate developer who, since 1978, has resided at the North Park, a residential apartment building.

Defendant N. P. Associates, Ltd. , is an Illinois limited partnership which was formed in September 1981 to acquire, own, and operate the North Park. NP is the beneficial owner of the Illinois land trust which owns the North Park., Defendant F.S.W., Inc. , is an Illinois corporation which was organized in August 1981 to act as a general partner to defendant NP.

Defendant Enterprises is an Illinois partnership and a limited partner of NP. Enterprises' partners are 12 trusts established for the benefit of the Wilson family. John G. "Jack" Wilson (Wilson) is the managing partner of Enterprises.

Prior to 1981, G'Sell was a general partner in an Illinois limited partnership known as the 1931 North Lincoln Park West Partnership (the prior partnership), which owned the North Park prior to its sale in 1981 to a nominee of the Wilsons. In 1980, G'Sell learned that his partners in the prior partnership intended to sell the North Park. In order to sell on more favorable terms than they were able to secure, he contacted Jack Wilson and his father, Francis Wilson, with whom he had previously done business.

At the initial meeting between G'Sell and the Wilsons, G'Sell informed the Wilsons that he wanted to manage the North Park for them, that he wanted an ownership interest in the partnership that would acquire the North Park, and that he wanted to remain in his apartment at North Park. Defendant testified that G'Sell attempted to make the purchase attractive by emphasizing his expertise in obtaining Federal financing.

Negotiations between G'Sell and the Wilsons ensued, and various drafts of a proposed contract were exchanged. The negotiations centered on the terms of the sale of the North Park from the prior partnership to the Wilsons, the interest that G'Sell would have in the purchasing entity, and whether G'Sell would continue to manage the North Park for acquiring entity after the purchase.

The draft contracts culminated in the agreement at issue here, which Wilson executed and sent to G'Sell on or about April 15, 1981. G'Sell testified at trial that he immediately executed the agreement and returned it to Wilson. Wilson testified that G'Sell did ...


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