Alecko Capital v. Conlon (Guaranty Judgment Over Chicago's Former Rainforest Cafe Building)

Cook County Circuit Judge Jerry A. Esrig ordered investor Sean Conlon to pay more than $10 million on October 20, 2026 to resolve breach-of-contract litigation brought by lender Alecko Capital over the vacant former Rainforest Cafe building at 605 N. Clark Street in Chicago's River North. Alecko sued in October 2025 after Conlon, who personally guaranteed an $8.3 million loan secured by the 22,000-square-foot building, defaulted; the building has sat empty and income-less since the restaurant closed in August 2020.

Why it matters

The judgment shows how quickly default interest, fees, and litigation costs can widen a lender's claim once a personally guaranteed commercial loan goes into default and the parties end up in court rather than a workout -- the gap between the $8.3 million loan and the $10 million-plus judgment reflects that accumulation. It is also a pointed example of the added risk a vacant, single-tenant specialty building poses to a secured loan, since there is no other rental income to cushion a default once the anchor tenant leaves.

Case timeline · 4 entries Latest: October 20, 2026 — Judge Jerry A. Esrig orders Conlon to pay more than $10 million to resolve the litigation

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CREdocket summarizes public court records and reporting; see our sourcing standards and corrections log. Not legal advice. Facing something similar? Contact us.