SPRINGFIELD, Ill., Feb. 22 -- The Illinois Courts Office issued the following opinion on Jan. 22:
1. Held: (1) Plaintiff did not raise issue of fact as to alleged fundamental mistake in appraiser's conclusion that the highest and best use of the subject property was commercial. (2) Issue of fact precluding summary judgment existed as to whether appraiser assumed a maximum building area that was not permissible under controlling zoning regulations.
2. Plaintiff BCSP 330 North Wabash Property LLC (BCSP) leases property from defendant 401 NSS, LLC (NSS). In 2019, BCSP exercised its option to renew the lease for a 25-year term. The lease provides that annual rent for the optioned term will be set at 5.5% of the property's value, as determined...