EXHIBIT 99.2
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December 26, 1997
VIA FAX 000-000-0000
IDS/JMB Balanced Income Growth, Ltd. c/o
JMB Realty Corporation
000 Xxxxx Xxxxxxxx Xxxxxx
Xxxxxxx, XX 00000-0000
Attention: Xxxxxx X. Xxxxxxx
Re: Skokie Fashion Square Shopping Center
Skokie, IL (the "Property")
Dear Xx. Xxxxxxx:
IDS/JMB BALANCED INCOME GROWTH, LTD. ("Seller") and INLAND REAL
ESTATE ACQUISITIONS, INC. ("Buyer"), entered into that certain Agreement to
Purchase, dated December 5, 1997, as amended on December 17, 1997, for the
sale and acquisition of the Property (collectively, the "Contract").
Pursuant to Paragraph 10.4 of the Contract, the Contract was assigned to
INLAND REAL ESTATE CORPORATION, an entity affiliated with Buyer, on
December 22, 1997 (hereinafter, Buyer); and the Contract was terminated by
Buyer on December 24, 1997. Defined terms utilized herein shall have the
same meanings as defined by the Contract.
Upon full execution of this letter by Buyer and Seller, the parties
hereto agree to revive the Contract in accordance with the terms hereof.
It is hereby agreed:
(a) the Inspection Period, within which Buyer shall review
and approve of the matters described by Paragraph 8.1 (a) (v), is hereby
extended through 5:00p.m., on December 29, 1997; and
(b) Purchaser shall receive a cash credit from Seller at
closing in the amount of $43,000.00 as and for the "Cost Plus" tenant
matter; and
(c) the due diligence matters described at paragraph 8.1 (a)
(ii), (iii), and (iv), have been satisfied.
If you agree to the terms stated herein, please sign this letter
below and return it to me VIA FAX: 000-000-0000. All other terms of the
Contract shall remain unchanged. In the event any changes are marked upon
this letter, the limited offer to permit revival of the Contract shall be
automatically revoked. In the event a signed copy of this letter is not
received by me, the Notice to Cancel shall be and remain in full force and
effect.
Sincerely,
Xxxxxx X. Xxxxxxx,
as agent for Inland Real Estate
Corporation, Buyer
AGREED TO THIS _____TH DAY OF DECEMBER, 1997.
IDS/JMB BALANCED INCOME GROWTH, LTD., SELLER
BY: INCOME GROWTH MANAGERS, INC.,
an Illinois corporation, Corporate General Partner
by ________________________________________________________
VICE PRESIDENT
CC: Xxxxxxx X. Xxxxxxx @ Xxxxxxxx & Xxxxxxx VIA FAX: 000-000-0000
Xxxx Xxxxxxxxxx @ Xxxxxxx Xxxxx, L.L.C. VIA FAX: 000-000-0000
