Schwinder v. Austin Bank of Chicago
Illinois Appellate Court
809 N.E.2d 180 (2004)
On June 21, 2000, Thomas F. Schwinder and Susan L. Londay (plaintiffs) offered to purchase a condominium unit from Austin Bank of Chicago and Marian Baginski (defendants). On July 5, 2000, Baginski accepted the plaintiffs’ offer. The parties entered a real estate contract and set a date for closing. When the closing date arrived, however, Baginski did not deliver the deed to the unit. Baginski was in the process of obtaining a divorce and was uncertain whether the divorce court would permit the sale of the unit. Baginski signed a second agreement, modifying the first, allowing the plaintiffs to move in until Baginski could secure a closing, provided that the plaintiffs paid $1,500 per month. The divorce court eventually approved the sale of the unit, but despite the plaintiffs’ efforts to set a closing date, Baginski refused to set a closing date. The plaintiffs brought suit, seeking specific performance of the contract. The trial court held that the contract, as modified by the new agreement, was valid and enforceable, and granted specific performance.
Rule of Law
Holding and Reasoning (Gordon, J.)
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