Company News

Gas City Hit by Foreclosure Suit

PrivateBank & Trust seeking to collect $16.8 million on four locations in Chicago area
CHICAGO -- PrivateBank & Trust Co. has filed a foreclosure suit seeking to collect $16.8 million on four Gas City locations in the southwest suburbs of Chicago controlled by gas station entrepreneur and casino owner William McEnery, said a report by Crain's Chicago Business.

The stations are leased to Gas City Ltd., a Frankfort, Ill.-based independent chain that McEnery started in 1966 with a single Southwest Side location. McEnery is president of the privately held company, which is known for orange, red and black canopies covering the gasoline dispensers and [image-nocss] now lists 98 locations on its website, according to the newspaper.

The company operates truckstops, gas stations with Family Pantry convenience stores and car washes in Illinois and Indiana.

McEnery, now in his mid-60s, has parlayed the gas station business into other holdings, including a fuel-hauling company and the 45-hole Green Garden Country Club in southwest suburban Frankfort, said the report.

He also is chairman of Legends Gaming LLC, a Las Vegas-based operator of DiamondJacks casinos in Bossier City, La., and Vicksburg, Miss.

The four stations are owned by a trust controlled by McEnery and leased to Gas City, the report said, citing property records. The properties are in Frankfort, Tinley Park, Joliet and New Lenox, Ill.

McEnery did not return a call by Crain's requesting comment.

The reasons for the alleged default could not be determined, the report added. A copy of the complaint, filed in Will County Circuit Court, could not immediately be obtained Tuesday, it said.

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