First Midwest Bank v. Prime Market Targeting, Inc.

2021 IL App (3d) 180650-U
CourtAppellate Court of Illinois
DecidedApril 22, 2021
Docket3-18-0650
StatusUnpublished

This text of 2021 IL App (3d) 180650-U (First Midwest Bank v. Prime Market Targeting, Inc.) is published on Counsel Stack Legal Research, covering Appellate Court of Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
First Midwest Bank v. Prime Market Targeting, Inc., 2021 IL App (3d) 180650-U (Ill. Ct. App. 2021).

Opinion

NOTICE: This order was filed under Supreme Court Rule 23 and is not precedent except in the limited circumstances allowed under Rule 23(e)(1).

2021 IL App (3d) 180650-U

Order filed April 22, 2021 Modified Order Upon Denial of Rehearing filed July 13, 2021

IN THE

APPELLATE COURT OF ILLINOIS

THIRD DISTRICT

FIRST MIDWEST BANK, ) Appeal from the Circuit Court ) of the 12th Judicial Circuit, Plaintiff-Appellee, ) Will County, Illinois, ) v. ) ) PRIME MARKET TARGETING, INC., an ) Illinois corporation; CHICAGO TITLE LAND ) TRUST COMPANY, as successor to North Star ) Trust Company, as Trustee under Trust ) Agreement Dated March 24, 2004, and Known ) as Trust No.: HTH2300; UNITED STATES OF ) Appeal No. 3-18-0650 AMERICA SMALL BUSINESS ) Circuit No. 17-CH-1102 ADMINISTRATION; SCOTT L. DUFF; ) UNKNOWN OWNERS and NON-RECORD ) CLAIMANTS, ) ) Defendants ) ) (Prime Market Targeting, Inc., Chicago Title ) Land Trust Company, and Scott L. Duff, ) Honorable ) Mark Thomas Carney, Defendants-Appellants). ) Judge, Presiding.

JUSTICE DAUGHERITY delivered the judgment of the court. Justice Holdridge concurred in the judgment. Justice Wright dissented.

ORDER ¶1 Held: The trial court did not abuse its discretion by denying defendants’ section 2- 1301(e) motion to vacate the order of default and the default judgment of foreclosure and sale.

¶2 Plaintiff, First Midwest Bank, filed a complaint for foreclosure and other relief against,

among others, defendants, Prime Market Targeting, Inc. (Prime), its president, Scott L. Duff, and

Chicago Title Land Trust Company (Chicago Title). The trial court granted First Midwest

Bank’s motion for an order of default and a default judgment of foreclosure and sale. Three

months later, before the scheduled sale of the commercial property, defendants’ newly retained

counsel entered an appearance and filed a timely emergency motion under section 2-1301(e) of

the Code of Civil Procedure (Code) (735 ILCS 5/2-1301(e) (West 2016)), seeking, in part, to

vacate the order of default and the default judgment of foreclosure and sale. The trial court

denied defendants’ motion to vacate. Defendants appeal. We affirm the trial court’s judgment.

¶3 I. BACKGROUND

¶4 This case involves commercial property located in Frankfort, Illinois. The record on

appeal describes the commercial property as “a one story, with partial 2nd floor, brick office

building,” containing three commercial units that was built around 2003. The commercial

property is situated on 2.11 acres of land and is comprised of 14,800 square feet. Prime occupied

one of the three commercial units on the property.

¶5 In November and December 2013, Duff, as president of Prime, executed three

promissory notes and business loan agreements with First Midwest Bank’s predecessor in

interest on behalf of Prime. Also in December 2013, Chicago Title executed a mortgage and an

assignment of rents with First Midwest Bank to secure Prime’s payment of the promissory notes.

The documents were duly recorded. Around that time and over the next three years, Duff, in his

personal capacity, executed various commercial guaranties to pay the three promissory notes in

2 the event of a default by Prime. In March 2017, Prime and Duff allegedly ceased all business

operations and stopped making payments on the promissory notes.

¶6 As a result, in June 2017, First Midwest Bank filed a complaint for foreclosure on the

mortgage for the commercial property and for other relief. Counts I, II, and III of the complaint

alleged Prime and Duff defaulted on the promissory notes by ceasing business operations and

stopping payments. First Midwest Bank requested the amounts due on the three promissory notes

(approximately $939,000, $563,000, and $278,000), plus fees and interest, respectively.

¶7 Count IV alleged that Duff, in his personal capacity, executed various commercial

guaranties, attached to the complaint, to pay the promissory notes upon a default by Prime.1

Since Prime allegedly defaulted on its obligations under the terms of the promissory notes, First

Midwest Bank asserted that Duff was personally liable for the total amount due and owing on the

notes, approximately $1.8 million.

¶8 Count V was filed under section 15-1101 of the Illinois Mortgage Foreclosure Law

(Foreclosure Law) (735 ILCS 5/15-1101 et seq. (West 2016)) to foreclose on the mortgage for

the commercial property. Prime; Duff; Chicago Title, as mortgagor and owner of the commercial

property; the United States Small Business Administration (SBA); and all unknown owners and

non-record claimants of the commercial property were named as defendants. 2 The SBA, like

First Midwest Bank, held a promissory note for the commercial property. The amount owed on

the mortgage was not to exceed $2,044,000. Further, First Midwest Bank stated that Chicago

Title waived its right of redemption under the mortgage. Alternatively, First Midwest Bank

1 Count IV was mislabeled as count III. 2 Chicago Title was named as a defendant as a successor in interest to North Star Trust Company, as Trustee under Trust Agreement dated March 24, 2004, and known as Trust No. HTH2300.

3 asserted that since commercial property was involved, section 15-1603(b)(2) of the Foreclosure

Law (735 ILCS 5/15-1603(b)(2) (West 2016)) governed. As for relief in Count V, First Midwest

Bank requested a judgment of foreclosure and sale, a finding that Chicago Title waived its right

of redemption, a deficiency judgment against Prime and Duff, fees and costs, possession of the

commercial property, and termination of defendants’ interest in the commercial property or a

finding that First Midwest Bank had a superior interest in the commercial property.

¶9 In June 2017, First Midwest Bank served process on Chicago Title. Around that same

time, First Midwest Bank also served all unknown owners and non-record claimants of the

commercial property by publication. However, Prime and Duff were not served until

December 2017. 3, 4 At a prior hearing, First Midwest Bank’s attorney described the unsuccessful

attempts to serve Prime and Duff with process as follows:

“The problem with my process server was they went out to the

property, they saw that it looked empty. They called the number of the

business, which was disconnected. [Duff] had been there every single day.

They just didn’t apparently do their due diligence to figure that out. So

3 In July and October 2017, First Midwest Bank was required to obtain leave to issue alias summonses for Prime and Duff. 4 Before Prime and Duff were served with process, the trial court granted First Midwest Bank’s motion for the appointment of a receiver under sections 15-1701 through 15-1706 of the Foreclosure Law (735 ILCS 5/15-1701 through 15-1706 (West 2016)). The receiver was empowered with all duties, responsibilities, and powers stated in the Foreclosure Law. In October 2017, the receiver submitted a report to the trial court. The receiver stated that in July 2017, he visited the commercial property and met with Duff. The parties walked the premises and reviewed the trial court’s order appointing a receiver, as well as Prime’s finances, operations, and documents and information that were required to be turned over to the receiver.

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2021 IL App (3d) 180650-U, Counsel Stack Legal Research, https://law.counselstack.com/opinion/first-midwest-bank-v-prime-market-targeting-inc-illappct-2021.