Under Section 1-101 et. seq. of the Illinois Uniform Commercial Code (810 ILCS 5/1-101) and pursuant to the terms and provisions contained in that certain Pledge and Security Agreement dated as of July 10, 2018 and executed by 1356 Wellington Mezz Owner, LLC and 3015 Southport Mezz Owner, LLC (collectively and individually, “Debtor”) and Bradford Allen Funding Company LLC (“Bradford Allen”), Bradford Allen will sell via auction at public sale (the “Auction”) on March 15, 2023 at 11:00 a.m. (the “Auction Date”), at the offices of Robbins DiMonte, Ltd., 180 N. LaSalle Street, Suite 3300, Chicago, Illinois, in accordance with the terms and conditions set forth below, the following described property: 100% of the legal and beneficial limited liability company interests in 1356 WELLINGTON MEZZ OWNER, LLC, an Illinois limited liability company and 3015 SOUTHPORT MEZZ OWNER, LLC, an Illinois limited liability company (the “Collateral”). This sale is being held to enforce Bradford Allen’s rights in the Collateral to satisfy the indebtedness of the Debtor to Bradford Allen in the approximate amount of $2,595,752.15 as of January 31, 2023, with default interest and other charges, including attorney’s fees and out-of-pocket expenses, continuing to accrue (the “Indebtedness”). In addition to the Auction being conducted in person, the Auction will be held virtually on Zoom and recorded.
The terms of the sale will be as follows: All bids must be given orally or in writing at or before the time of sale. In conjunction with such bid, a bidder (except Bradford Allen) must tender to Lender a deposit equal to five percent (5%) of the proposed purchase price for the Collateral. Bradford Allen shall not be obligated to accept any bid if it deems the bid inadequate and reserves its right to credit bid for the Collateral under any circumstance. The successful bidder, if any, upon payment of the bid price, will receive from Bradford Allen an assignment of 100% of the legal and beneficial limited liability company interests in the Debtor, 1356 Wellington Mezz Owner LLC and 3015 Southport Mezz Owner LLC. Other than a warranty of the existence of Bradford Allen’s security interest in the Collateral, no representations or warranties of any kind are or will be given by Bradford Allen at the time of such assignment.
Persons interested in bidding should direct all written bids, all requests for information, all requests for Zoom invitation to the Auction, and all other questions or comments to: Emily C. Kaminski, Robbins DiMonte, Ltd., 180 N. LaSalle St., Suite 3300, Chicago, IL 60601, tel: 312-456-0284, fax, 312-782-6690, email: [email protected]. Additional terms and conditions of the Auction, which are incorporated herein by reference, may be found at https://www. southportwellington.com/
/s/ Steve Jakubowski, Attorney for Secured Party, Bradford Allen Funding Company, LLC
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