Receivership Services
Dan McKay has been acting as a Court Appointed Receiver since 1997 and worked for a Court Appointed Receiver in 1977 as a Resident Property Manager of a 96-unit Apartment Building. We realize the importance of protecting the asset through the foreclosure process. We are also well-versed in Bonding, Transition, Accounting, and Reporting to the Client and the Court and have the ability to Lease and Sell the property during Receivership eliminating the need for Lender to come into Title.
We have assisted the City's largest financial institutions in completing foreclosure proceedings on apartments, retail shopping centers, office buildings, industrial sites, and condo developments, as well as farmland in Illinois, Indiana, Wisconsin, Missouri and Florida.
Recent Receivership Assignments
200 N. 2nd Street, St. Charles, Kane County
100 Unit Senior Housing Section 8 Property
Plaintiff: Associated Bank
Judge: Divya Sarang
Value: $20,000,000+
951 Thorndale, Bensenville, Cook County
120,000 SF Industrial Building
Plaintiff: Associated Bank
Judge: Bonnie Wheaton
Value: $6,000,000
Half Day Road, Bannockburn, Lake County
130,000 SF Office Building
Plaintiff: Associated Bank
Judge:
Value: $10,000,000
1945 Ohio Street, Lisle, DuPage County
50,000 SF Industrial
Plaintiff: Signature Bank
Judge: Robert G. Gibson
Value: $4,500,000
St. Charles Memory Care Center, Kane County
25,000 SF 46 Bed Memory Care Center
Plaintiff: BMO Harris Bank
Judge: Divya Sarang
Value: $8,000,000
Alsip, IL, Cook County
30,000 SF McAllister Building
Plaintiff: BMO Harris Bank
Assignee: David Abrams
Value: $3,000,000
Charleston, IL, Coles County
384 Residential Units in 79 Buildings
Plaintiff: Fifth Third Bank
Judge: Mitchell Shick
Value: $8,000,000
Rt. 59, Naperville & Oswego, IL, Will & Kendall County
5 Building Retail/Office/Condo and 3 Farms Totaling 540 Acres
Plaintiff: Cole Taylor Bank
Judge: Richard Siegel
Value: $30,000,000
Chicago West Side
12 Building Section 8 Portfolio
Plaintiff: Integra Bank
Judge: Carolyn Quinn
Value: $7,000,000
Randall Rd., Aurora, IL, Kane County
100,000 SF Retail Shopping Center
Plaintiff: Manufactures Life Insurance Co.
Judge: Peter Grometer
Value: $6,000,000
Kankakee, IL, Will County
92,000 S.F. Industrial Building
Plaintiff: American National Bank & Trust Co. of Chicago
Judge: Blanche Manning
Value: $1,200,000
Central Ave., Wilmette, IL, Cook County
Partially constructed Town House Complex
Plaintiff: First Bank and Trust Company of Illinois
Judge: Lester D. Foreman
Value: $4,500,000
Rockford, IL, Winnebago County
75,000 S.F Industrial Building
Plaintiff: Bank One
Judge: R. Parillo
Value: $1,500,000
St. Charles, IL, Kane County
60,000 S.F. Industrial Building
Plaintiff: Harris Trust & Savings Bank
Judge: Peter Grometer
Value: $3,000,000
Highland Park, IL, Lake County
22,700 S.F. Medical Office Building
Plaintiff: New York Community Bank
Judge: Mitchell Hoffman
Value: $2,700,000
Oak Brook IL, DuPage County
30,000 SF Office Building
Plaintiff: BMO
Judge: Bonnie Wheaton
Value: $3,200,000