David P. Leibowitz, Chapter 7 Trustee (the “Trustee”), has obtained title to the beneficial interest in Attorneys Title Guaranty Land Trust L020-009, which land trust holds title to real estate commonly known as 2023 N. Humboldt Blvd., Chicago, IL (the “Real Estate”). The Assignment of Beneficial Interest from Ivan Diaz to Trustee was accepted by ATG Trust Company as trustee of the Land Trust on May 19, 2021.
Therefore, pursuant to the Bankruptcy Court’s “ORDER GRANTING TRUSTEE’S MOTION TO AUTHORIZE SALE OF PROPERTY OF THE ESTATE FREE AND CLEAR OF LIENS, CLAIMS, INTERESTS AND ENCUMBRANCES PURSUANT TO SECTION 363(F) OF THE BANKRUPTCY CODE” entered on April 13, 2021 (Docket 80) and other orders entered on that same date, Trustee has entered into a contract to sell the Real Estate, subject to any competing offers that may be made as provided below, free and clear of liens, claims and encumbrances, if any, of:
as well as any other person served with the Trustee’s Motion.
The Court has reviewed the offer made by Ivan Diaz to purchase the Real Estate for $685,000 pursuant to the terms of a Settlement Agreement approved by the Court and the Real Estate Contract appended thereto and will consider that offer at a hearing to be held on August 3, 2021 (or on a date prior thereto, as noted below), subject to any competing offers made after the Real Estate is offered for sale for one week in the auction pages of The Chicago Tribune. Reference is made to Bankruptcy Docket No. 73 dated March 12, 2021 and all documents filed therewith.
Any person or entity who wishes to make a competing offer must do so on or before June 30, 2021. Any competing offer is subject to the right of first refusal of Ivan Diaz to match such offer within 7 days after that offer is received by the Trustee. Offers will be deemed to have been received on the date actually received by the Trustee. The Trustee’s statement as to the date of delivery shall be binding on all parties, provided, however, that proof of service by the United States Post Office or a commercial service such as Federal Express or United Parcel Service shall be sufficient evidence of actual service.
Competing offers must be made subject to the same terms and conditions provided in the contract between Trustee and Ivan Diaz.
The Trustee may set this matter for hearing on or before August 3, 2021 for the Court’s final approval of sale pursuant to Bankruptcy Rule 6004 and Section 363(b) and (f) of the Bankruptcy Code.
Photographs of the interior of the Real Estate are available at:
Competing offers must be accompanied by an earnest money deposit of no less than $10,000 in the form of a cashiers’ or certified check payable to David P. Leibowitz, Trustee of REEF, LLC.
DAVID P. LEIBOWITZ, not individually, but as chapter 7 trustee of the Debtor’s estate
By: /s/ David P. Leibowitz
David P. Leibowitz (ARDC # 1612271)
Law Offices of David P. Leibowitz, LLC
3438 N Elaine Place, Suite 4
Chicago, IL 60657-0801
I, David P. Leibowitz, certify that I served a copy of the foregoing Notice of Sale on each entity shown on the attached list at the address shown by first class mail, postage prepaid, on May 26, 2021, at 5:00 p.m. Those marked with an * were served via the Court’s ECF system.
/s/ David P. Leibowitz
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