After foreclosure, receiver can raise rent to meet operating cost

By David Thomas Law Bulletin staff writer

Posted April 24, 2018 2:45 PM

A receiver in a commercial foreclosure action can raise the defendants’ rent with court approval if an increase is needed to manage and operate the property, a state appeals panel found Monday. But how much more defendants Chicago Taxi Leasing Inc. and Taxi Town Inc. will have to pay for their West Ridge building is still undecided.The 1st District Appellate Court ordered Cook County Associate Judge Darryl B. Simko to conduct those proceedings after vacating the rate Simko set.Receiver Michael J. Eber sought to raise …

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