CHICAGO–A Barrington Hills investment firm is suing a Lombard company, alleging owes more than $600,000, stemming from a 2013 promissory note.
MJ&J Investors filed a lawsuit Nov. 23 in Cook County Circuit Court against 121 Railroad, Michael Olsen and Gary Danno, alleging breach of contract.
According to the complaint, on Dec. 12, 2013, 121 Railroad executed a promissory note to MJ&J Investors for $350,000 with annual interest of 30 percent and a due date of June 12, 2014. Although Olsen and Danno signed guarantees to repay the loan, the suit, says the balance remains outstanding and has grown to $609,000 with interest.
MJ&J seeks damages including but not limited to $609,000, plus litigation costs. It is represented by attorney Jason A. Cook of Sethna & Cook in Wheaton.
Cook County Circuit Court Case number 2015-L011932.