Lindy Lu, LLC v. Illinois Central Railroad Company

Plaintiff real estate holding company bought parcel of land adjoining one of its businesses and adjacent to Main Line railroad. Defendant Illinois Central Railroad gave quitclaim deed to parcel but retained easement for signal box and equipment. Plaintiff did not purchase title insurance. Court properly granted summary judgment, given absence of fraud or concealment as to status of title. That quitclaim deed did not convey fee simple interest does not mean Defendant breached contract or made contract void for lack of consideration. (SCHMIDT and O'BRIEN, concurring.)