Crain’s reports that prominent Chicago architect Lucien Lagrange is throwing in the towel at the barely ripe age of 69. Not only his he closing up shop–at an as yet undisclosed date–he’s filing for Chapter 11 bankruptcy. “Retiring, (there would be) a lot of liabilities are on my back. I can’t just walk away,” Lagrange told Crain’s. “Chapter 11 gives you a chance to plan ahead, organize and close in a decent way.”

While the AIA may be forcasting a brighter 2011, Lagrange, best known for designing high end condos, doesn’t see the market bouncing back for another five years. While he might be in a gloomy mood now, my hunch is that Chapter 11 won’t be the final chapter in his career.