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04/20/89 Gold Standard Enterprises, v. United Investors

April 20, 1989

GOLD STANDARD ENTERPRISES, INC., PLAINTIFF-APPELLEE

v.

UNITED INVESTORS MANAGEMENT COMPANY, A DIVISION OF UNITED INVESTORS, INC., DEFENDANT-APPELLANT



APPELLATE COURT OF ILLINOIS, FIRST DISTRICT, FOURTH DIVISION

538 N.E.2d 636, 182 Ill. App. 3d 840, 131 Ill. Dec. 261 1989.IL.561

Appeal from the Circuit Court of Cook County; the Hon. Thomas Rakowski, Judge, presiding.

APPELLATE Judges:

JUSTICE LINN delivered the opinion of the court. JIGANTI, P.J., and JOHNSON, J., concur.

DECISION OF THE COURT DELIVERED BY THE HONORABLE JUDGE LINN

Plaintiff, Gold Standard Enterprises, Inc., is the lessee under a lease with defendant, the United Investors Management Company, the lessor. Plaintiff brought an action in the circuit court of Cook County against defendant. Plaintiff sought the specific performance of a lease provision that granted it the option to extend the lease. The trial court granted plaintiff's motion for summary judgment and denied that of defendant. Defendant appeals, contending that the trial court erred in granting summary judgment for plaintiff.

We affirm the judgment of the trial court.

Background

A

The record contains the following undisputed facts. On January 26, 1976, plaintiff entered into a lease agreement with the J.M.B. Property Management Corporation. Plaintiff rented space to operate a retail store in the Hubbard Woods Shopping Center, located at 71 Linden Avenue, in Glencoe, Illinois. The lease had a term of 10 years, from August 1, 1976, to July 31, 1986. The lease prescribed a fixed monthly rent increasing annually, from $800 in the first year to $1,250 in the tenth year, plus an additional amount based on a percentage of plaintiff's gross sales, which also increased annually.

The lease granted plaintiff an option to extend, which provided in pertinent part:

"Section 26.14. Option to Extend

If the Lease is otherwise then in effect and if Lessee is not in default thereunder, Tenant shall have and is hereby given the option to renew this Lease for two (2) five (5) year terms. If Tenant desires to exercise this option. Tenant shall give written notice of such exercise to ...


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