Michel v. Chojnacki

CourtDistrict Court, N.D. Illinois
DecidedDecember 6, 2023
Docket1:23-cv-02546
StatusUnknown

This text of Michel v. Chojnacki (Michel v. Chojnacki) is published on Counsel Stack Legal Research, covering District Court, N.D. Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Michel v. Chojnacki, (N.D. Ill. 2023).

Opinion

IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION THOMAS MICHEL and STEPHANE ) VERDIER, ) ) No. 23 C 2546 Plaintiffs, ) v. ) Judge Virginia M. Kendall ) MARCIN CHOJNACKI, et al., ) ) Defendants. )

MEMORANDUM OPINION AND ORDER Plaintiffs Thomas Michel and Stephane Verdier claim Defendants Laurena “Lori” Mikosz and Marcin Chojnacki tricked them into buying two run-down apartment buildings. While holding themselves as Plaintiffs’ real-estate brokers, Mikosz and Chojnacki allegedly fed Plaintiffs false assurances about the buildings’ condition and profitability. Behind the scenes, Mikosz’s and Chojnacki’s associates, the remaining Defendants, through “puppet entities,” bought the buildings and resold them to Plaintiffs at significant markups. Plaintiffs sued, alleging violations of the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. §§ 1962(c), (d), and various state- law claims. (Dkt. 2). Defendants now move to dismiss. (Dkts. 32). For the reasons below, the motion [32] is denied. BACKGROUND Plaintiffs and friends Thomas Michel, a Texas citizen, and Stephane Verdier, a California citizen, hoped to invest their savings together in real estate. (Dkt. 2 ¶¶ 1–2, 22–24).1 Around July 2021, Michel learned about CitiPoint Properties (“CitiPoint”), a company that helped real-estate

1 At the time, CitiPoint was an “un-incorporated enterprise,” organized by Defendant Marcin Chojnacki, that appeared to be a real-estate investment firm. (Id. at ¶ 19). Later, on December 28, 2022, CitiPoint reorganized as Citypoint Illinois, LLC, which is owned and controlled by nonparty Citypoint Group, Inc. (Id.) investors find undervalued and underperforming properties—so-called “directly sourced” properties. (Id. at ¶¶ 28–29). CitiPoint promised “rapidly increasing equity and high cash flow.” (Id. at ¶ 28). Interested in the proposition, Michel sent a query about CitiPoint to Defendant Lori Mikosz, who was in Illinois. (Id. at ¶ 30). Mikosz replied that she and Chojnacki were real-estate

brokers with Chase Real Estate, LLC (“Chase RE”), an affiliate of CitiPoint. (Id. at ¶ 32). Through “sustained text and phone interactions,” Mikosz explained that Michel would be “purchasing buildings that were underperforming directly from the local landlord.” (Id. at ¶¶ 31, 35). By purchasing property at a “bargain” from “local landlords” and using Defendant Mainstreet Property Management LLC (“Mainstreet”) as a property-management service, Mikosz proposed, Plaintiffs could expect “substantial cash flow.” (Id. at ¶¶ 35–37). Mikosz sent Michel links to pages on the CitiPoint website with information about two properties Blue Island, Illinois, which he and Verdier later purchased: 12438 Fairview Avenue (the “Fairview Property”) and 12930 Page Court (the “Page Property”). (Id. at ¶¶ 25–26, 39, 55). Mikosz provided financials, including rent rolls showing that both Properties were fully leased and

all tenants were current on rent, except for a $400 balance on one of the six units in the Fairview Property. (Id. at ¶¶ 43, 59; Dkts. 2-3, 2-8). Moreover, the financials promised greater cash flow if Plaintiffs used Mainstreet to manage the Properties. (Dkt. 2 ¶ 56). Michel gave Mikosz two weeks’ notice that he intended to fly to Illinois to see the Fairview Property, but when he arrived, Mikosz said that he could not tour the units and could only see the common areas and outside of the building. (Id. at ¶¶ 45–46). Still, Mikosz insisted that both Properties were in good condition, and she repeated that their sellers were “local landlords who were retiring.” (Id. at ¶¶ 46, 74). On September 28, 2021, Mikosz emailed Michel describing the Fairview Property as “turnkey,” requiring “[n]o rehab.” (Id. at ¶ 44; Dkt. 2-4). At the “bargain” purchase prices of $450,000 for the Fairview Property and $525,000 for the Page Property, Mikosz assured Plaintiffs that their investments would be profitable. (Dkt. 2 ¶¶ 49, 61). Believing Mikosz’s representations, Plaintiffs entered contracts to purchase the Properties on September 28 and October 23, 2021, and closed in January and February 2022. (Id. at ¶¶ 50, 66, 92, 97; Dkts. 2-5, 2-7).

During the financing process, on October 21, 2021, Michel’s lender sent Mikosz an email requesting the Properties’ tax returns for the last three years. (Dkt. 2 ¶ 69; Dkt. 2-8 at 8–9). She forwarded the email to Defendant Rebecca Irwin, who replied: “The seller cannot provide.” (Dkt. 2 ¶¶ 70–71; Dkt. 2-8 at 7–8). After Michel noted the unusual nature of a seller being unable to provide that information, Mikosz explained that the seller was “super old on paperwork,” but she had “all the valuations regarding the deal.” (Dkt. 2 ¶¶ 72–73; Dkt. 2-8 at 7). Mikosz then steered Michel toward her affiliated lender who did not need any tax returns. (Dkt. 2 ¶ 78; Dkts. 2-9, 2- 19). Michel agreed, believing Mikosz was acting as his agent and broker and the transaction was being conducted safely through Chase RE. (Dkt. 2 ¶¶ 80–82). Unbeknownst to Plaintiffs, Defendants could not get the tax returns or other financial

information because Defendants were themselves purchasing the Properties to resell to Plaintiffs at inflated prices. (Id. at ¶ 76). On February 9, 2022, Michel’s lender noticed the owner of record for the Page Property was L&M Buildings LLC-1—not the seller in the purchase agreement, Defendant Page Street Properties LLC (“Page Street”). (Id. at ¶¶ 86, 88; Dkt. 2-11). When Michel’s lender raised this discrepancy, Irwin deflected and reassured the lender that the owner of record was Irwin’s client, Page Street. (Dkt. 2 ¶ 87). But Page Street had not purchased the Page Property until December 29, 2021, two months after Plaintiffs’ entered into the purchase contract. (Id. at ¶¶ 88–89). Page Street, in turn, was owned by TCF National Holdings, Inc. (“TCF National”) where Defendant Kathleen Long—Chojnacki’s roommate and “paramour”—served as the president. (Id. at ¶¶ 8–9, 98). Similarly, Defendants purchased and resold the Fairview Property through the entity Defendant Fairview Avenue Properties LLC (“Fairview Avenue”), which is solely owned and managed by Defendant Mon Ami TCF LLC (“Mon Ami”). (Id. at ¶ 12). Long and Defendant Anand Sheth managed Mon Ami. (Id. at ¶ 13).

Throughout the dealings with Plaintiffs, Irwin acted on behalf of Fairview Avenue, Page Street, and Defendant Midwest Title and Closing Services LLC (“Midwest Title”). (Id. at ¶ 104). Through Midwest Title, Irwin provided “registered agent services to the various puppet entities”; she housed “various legal operations” relating to the entities and deals; and she charged Plaintiffs a fee for “closing coordination.” (Id. at ¶ 105). Midwest Title—managed by nonparty XYZABC, Inc., of which Irwin is the president—shares office space with Irwin, Chojnacki, Mikosz, Mainstreet, and Defendant EJ Investment Group Inc. (“EJ Investment”), which owns and controls Mainstreet. (Id. at ¶¶ 6–7, 16–17, 105–06). Chase RE received $31,875 in commissions at the closings. (Id. at ¶¶ 95, 100). After taking ownership, Plaintiffs learned that the Properties had no “old” landlord sellers.

(Id. at ¶ 93). Nor were the purchase prices—$450,000 for the Fairview Property and $525,000 for the Page Property—“bargains” since Defendants purchased them for $300,000 and $380,000, respectively. (Id. at ¶¶ 51, 64). Many of the Fairview Property’s units were vacant, delinquent in rent, or uninhabitable. (Id. at ¶ 110). The rent rolls for both Properties were inaccurate, and Plaintiffs could not discover occupancy or rent information as Mainstreet concealed such information. (Id. at ¶¶ 112–14). Numerous tenants were not current on rent, so Plaintiffs also had to engage in eviction proceedings. (Id. at ¶ 115).

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Michel v. Chojnacki, Counsel Stack Legal Research, https://law.counselstack.com/opinion/michel-v-chojnacki-ilnd-2023.