United States District Court, N.D. Illinois, Eastern Division
PNC Bank, National Association, successor to National City Bank Plaintiff,
650 Church Street, LLC, Defendant.
Bank, National Association, successor to National City Bank,
N.A. Matthew L. Hendricksen One of Its Attorneys
M. Crowley, Esq. (ARDC #6182597), Matthew L. Hendricksen,
Esq. (ARDC #6296720) Plunkett Cooney P.C.
PNC BANK N.A.'S MOTION FOR ENTRY OF A JUDGMENT OF
FORECLOSURE AND SALE APPOINTING RECEIVER AS SELLING OFFICER,
AND AUTHORIZING RECEIVER TO MARKET AND SELL THE PROPERTY AND
ENTER INTO A LISTING AGREEMENT
COMES Plaintiff, PNC Bank, National Association, successor to
National City Bank ("Plaintiff or "PNC"), by
and through its attorneys Plunkett Cooney P.C. and hereby
moves this Court for entry a judgment of foreclosure and sale
appointing the Receiver as sales officer, and authorizing the
court appointed receiver to market and sell the Property
which is the subject matter of this suit and commonly known
as 650 Church Street, Lake Zurich, Illinois 60047 (the
"Property") and to enter, if necessary, into a
listing agreement, and in support thereof, states as follows:
set forth in Plaintiffs motion for default, Plaintiff served
defendant 650 Chuch Street, LLC ("Defendant") with
the summons and complaint via the Illinois Secretary of State
on February 25, 2019.
March 7, 2019, the sole member of Defendant appeared in court
and was given until April 1, 2019 to obtain counsel and file
an appearance. Doc. 12.
of the date of this motion, no attorney has appeared on
behalf of Defendant in this cause, and Defendant has not
filed an answer or response to the complaint.
April 1, 2019, this Court granted PNCs motion to appoint
receiver (doc. 16). The Court appointed Ryan McNaughton of
Ryan McNaughton Holdings, LLC as receiver (hereafter
Receiver is currently in possession and control of the
Property and has managed the Property in accordance with the
duties of a receiver as outlined by 735 ILCS 5/15-1704.
date, Defendant has not obtained a proposed short sale that
is acceptable to Plaintiff.
Based upon Defendant's failure to respond to the
complaint, and obtain a an acceptable short sale for the
Property, PNC hereby requests this Court enter a judgment of
foreclosure and sale in its favor and against Defendant in
the amount set forth in PNCs attached supporting affidavit,
that being $6, 929, 185.13 through June 14, 2019. See
Further, in accord with Illinois law, Plaintiff requests this
Court (i) appoint the Receiver as sales officer and (ii)
authorize the Receiver to retain, if necessary, a broker to
market and sell the Property pursuant to the judgment of
foreclosure and sale. Illinois foreclosure law allows
foreclosed properties to be sold through a broker. Section
15-1506(f) of the Illinois Mortgage Foreclosure Law provides,
"Without limiting the general authority and powers of
the court, special matters may be included in the judgment of
foreclosure if sought by a party in the complaint or by
separate motion. Such matters may include, without
limitation: (1) a manner of sale other than public
auction;... (3) an official or other person who shall be the
officer to conduct the sale other than the one customarily
designated by the court; (4) provisions for non-exclusive
broker listings or designating a duly licensed real estate
broker nominated by one of the parties to exclusively list
the real estate for sale." 735 ILCS 5/15-1506(f).
appointed as the designated sales officer, the Receiver
proposes, if necessary, to retain a broker to list and market
the Property with a commission rate of no higher than 6% of
the sale price.
Appointing the Receiver as the sales officer in this action
will help ensure the sale of the Property for the most
commercially favorable price for the type of real estate
involved and ...