January 26, 2023
Authors: Charles Valente and Heather Kuhn O’Toole The Federal Trade Commission (FTC) is an independent agency of the United States government that is charged with protecting consumers and maintaining competition in the marketplace. Recently, the FTC gave public notice of a proposed rulemaking which would severely limit the use of non-compete agreements in employment…
January 2, 2023
Meltzer, Purtill & Stelle LLC (MPS Law) is pleased to announce the acquisition of general business practice law firm Kaplan Saunders Valente & Beninati LLP (KSVB), effective January 1, 2023. The move will bolster MPS Law’s commercial real estate, lending, and mergers and acquisitions practice, while adding depth to the firm’s existing expertise in trusts…
November 10, 2022
Author: Timothy W. Brink
A commercial tenant may expect that its security deposit will be segregated or held in trust by its landlord and therefore be available to be returned to it when the lease is terminated. As explained in a recent New York federal court decision,1 however, if a commercial lease does not require the landlord to segregate…
August 24, 2022
Author: Timothy W. Brink
EDITOR’S NOTE: This article is the second in a three-part series about how small and mid-sized businesses should deal with customers experiencing financial difficulties. The first installment in this series focused on identifying customers that are in financial distress and taking steps to mitigate potential losses in the event a customer files bankruptcy. In this…
July 14, 2022
Meltzer, Purtill & Stelle LLC (MPS Law) is pleased to welcome three associate attorneys, one paralegal, and two summer associates to their team, further strengthening the firm’s capabilities in the areas of commercial real estate law and litigation. “MPS is only as strong as the talent and depth of our professional staff, and we’re constantly…
June 8, 2022
Author: Timothy W. Brink
EDITOR’S NOTE: This article is the first in a series about how small and mid-sized businesses should deal with customers experiencing financial difficulties. Whether due to the impacts of pre-pandemic economic trends such as the shift in consumer spending toward e-commerce outlets, the effects of the federal and state governments’ responses to the COVID-19 pandemic,…
May 19, 2022
Ray Horn is a partner at MPS Law with nearly 30 years of experience in corporate law, and a considerable focus in the area of mergers and acquisitions. Recently, we sat down with Ray to discuss his M&A practice and how his approach is an ideal fit for closely held small- to mid-sized businesses. Tell…
March 24, 2022
Mark your calendar for this timely forum on key issues affecting professionals involved in real estate development, investment, and leasing in the Chicago suburbs. MPS Law partners Hal Francke and Jay Cherwin will moderate two of the panel discussions on tap for the event. Hal will moderate a discussion on “Mega Developments, while Jay will…
March 22, 2022
Author: Ray Horn
In this article from the March 2022 online edition of Insider 94 | Midwest Business Journal, MPS partner Ray Horn offers a distinctive look at the topic of attorney selection. His article combines practical, common sense advice with insights and anecdotes gleaned from over 20 years’ experience in mergers and acquisitions, partnership agreements and “business…
February 22, 2022
Meltzer, Purtill & Stelle LLC (MPS Law) continues to grow its professional staff by elevating associate attorney Andrew Chamberlain, who focuses on mergers and acquisitions, to partner. Separately, the firm has also hired a new partner, Michael Bregman, who is focused on commercial litigation. Chamberlain, who has been with MPS Law since 2016, works with…
August 17, 2021
Author: Timothy W. Brink
EDITOR’S NOTE: In this article from the American Bankruptcy Institute’s Unsecured Trade Creditors Committee Newsletter, Tim Brink discusses the Third Circuit’s decision holding that “triangular” setoffs are not permissible in bankruptcy and rejecting the argument that parties can contract around the requirement of strict bilateral neutrality. In its recent decision in In re Orexigen Therapeutics…
August 2, 2021
Meltzer, Purtill & Stelle LLC (MPS Law) is pleased to announce a pair of key additions to its professional staff. New associate attorney Max Frazier joins the firm’s commercial litigation practice group with extensive experience in cases involving breach of contract, business disputes, commercial evictions, debt collection, and other business matters. He has represented a…
May 21, 2021
May 21, 2021 – When MBBI (the Midwest Business Brokers and Intermediaries association) announced the launch of their new “Trends in M&A” podcast, the decision to slot MPS Law partner Ray Horn as the first featured guest came as no surprise. A former MBBI president and longtime board member, Ray offers the perspective of a…
May 14, 2021
Evan D. Blewett 125 S. Wacker Drive, Suite 2900 Chicago, Illinois 60606 T: 312-461-4317 F: 312-987-9854 E: eblewett@mpslaw.com Evan Blewett, a distinguished attorney with extensive experience in commercial real estate and corporate finance transactions, has joined Meltzer, Purtill & Stelle LLC (MPS Law) as a partner. Evan’s practice spans both transactional and litigation work, with…
January 18, 2021
In this article published by IICLE (Illinois Institute for Continuing Legal Education), authors Brian Meltzer and Vickie Bresnhan (of Meltzer Purtill and Stelle / MPS), provide a comprehensive review of the history and likely future of legislation and trends regarding condominiums and CICs (common interest communities) in Illinois. As the authors of Chapter 5 of…
January 4, 2021
Author: Brian Meltzer
Introduction/Background Shopping centers and malls (collectively referred to herein as “Malls” or individually as a “Mall”) throughout the country were dealing with the effects of changing consumer buying habits due to the rise of online shopping, which was accelerated by the Corona virus. Big box retailers have been closing stores and filing for bankruptcy in…
December 30, 2020
Author: Brian Meltzer
Today, most newly constructed owner/occupant housing developments are governed by a condominium and/or non-condominium homeowners association (“HOA”) made up of the owners of the homes in the development. The housing crash and the great recession which followed (the “Crash”) exposed many flaws and weaknesses in the HOA model. See, Time to Rehab the Aging Condominium…
December 18, 2020
Holly G. Shuman 125 S. Wacker Drive, Suite 2900 Chicago, Illinois 60606 T: 312-461-4319 F: 312-987-9854 E: hshuman@mpslaw.com December 18, 2020 – Leading Chicago real estate law firm MPS Law has elevated associate attorney Holly Shuman to partner, effective January 1, 2021. The move capped a rapid rise through the ranks for Shuman, who clerked…
November 25, 2020
Author: Scott Hargadon
CONTACT 125 S. Wacker Drive, Suite 2900Chicago, Illinois 60606T: 312-461-4314F: 312-987-9854E: shargadon@mpslaw.com Many clients, including companies who have multiple locations and those that don’t, believe that they don’t need to have a “tenant lawyer” involved in a lease transaction because they believe 1) their corporate counsel or general real estate attorney can adequately advise them…
November 6, 2020
Author: Samuel J. Schumer and Laura M. Carroll
Our leasing team recently encountered a somewhat unique scenario in the commercial leasing arena involving an office sublease between affiliates and the potential pitfalls of a spinoff of the subtenant into its own independent entity. The tenant/sublandlord was particularly concerned about the prospect of one of its competitors acquiring the subtenant after the spinoff is…
October 13, 2020
For the past six years, MPS Law associate Holly Shuman has focused on real estate transactions. A rising star within the field, Holly recently sat down to talk about MPS Law’s unique approach to representing tenants and the future of commercial leasing. Tell us a little about yourself, and how you became interested in commercial…
August 27, 2020
Scott Hargadon is one of the leading tenant lawyers in the country, representing major corporations, mid-market companies, and entrepreneurial ventures in office and industrial/warehouse leases throughout the United States and Canada. Scott sat down recently to talk about the importance of specialization, negotiating in tough markets, and how COVID-19 has affected tenants. Why did you…
July 30, 2020
Author: Scott Hargadon
In 2020, I have represented tenant clients on three significant single tenant lease transactions, the term I use when a tenant is leasing an entire building. The landlords in these transactions approached insurance issues quite differently and it provided the opportunity for me to consider what are the best practices for tenants when leasing all…
July 15, 2020
Author: Scott Hargadon and Holly Shuman
As leasing attorneys for tenants, we read many letters of intent (“LOI”) as part of our job. Some are excellent, providing a concise description of the parties’ business deal. Others raise more questions than they answer. We applaud brokers who do a thorough job with LOIs because during the LOI negotiations, a tenant’s negotiating leverage…
June 22, 2020
Author: By: Scott Hargadon and Holly Shuman
September 24, 2018; updated June 22, 2020 Co-working arrangements in lieu of typical office leases have been on the rise over the past five years. When we think of these arrangements, we typically think of startup companies, millennial workers, and open floor plans. However, many established companies now supplement their traditional office space with space…
June 16, 2020
Michael Dash is a vice-chairman of CBRE, the largest full-service real estate company in the world. Michael has worked with MPS Law partner Scott Hargadon for more than 20 years on hundreds of office lease deals, and also co-authored white papers with Scott on negotiating leases. He spoke with us in May on his relationship…
June 9, 2020
On Monday, June 15, the offices of Meltzer, Purtill & Stelle LLC will reopen for business. We will be fully staffed and ready to serve you at both our downtown Chicago and Schaumburg locations. To help ensure the health and safety of all, we have instituted the following guidelines and ask all visitors to comply…
May 26, 2020
David Friedland is an executive director and Chicago industrial group leader at Cushman & Wakefield, a global commercial real estate services firm. A broker for 26 years, David has worked with Scott Hargadon at MPS Law for 10 years on several leases. He spoke with us in May, 2020 about MPS Law’s negotiating tactics, why…
April 23, 2020
Meltzer, Purtill & Stelle LLC (MPS Law) is proud to announce the induction of partner Kathleen Dempsey Boyle to the 2020 Fellows class of the American College of Real Estate Lawyers (ACREL). Fellowship in ACREL is widely considered to be one of the highest honors available to U.S. real estate attorneys. The Maryland-based organization is…
March 13, 2020
Like everyone else, MPS Law is feeling the effects of the evolving coronavirus crisis. At this point, we’re focused on doing what needs to be done to keep our families healthy and safe, and urge you to do the same. We’re also taking steps to ensure continued delivery of our services with as little disruption…
March 12, 2020
John J. Lipic, a highly respected Chicago attorney with more than 17 years of experience in commercial real estate and finance law, has joined Meltzer, Purtill & Stelle LLC (MPS Law) as a partner. Lipic focuses his practice on commercial real estate and related areas, including finance, private equity, investment, leasing and asset management. He…
February 21, 2020
MPS Law, a widely respected Chicago area business-to-business law firm, has announced the promotion of two partners: Raymond J. Horn III as capital partner, and Monica J. Paine as income partner. The announcement reaffirms the firm’s commitment to two of its top performers in their respective areas, Horn in mergers and acquisitions and Paine in…
November 7, 2019
MPS Law, a widely respected Chicago area business-to-business law firm, is pleased to welcome Kevin Flavin as a new Associate. Flavin will focus primarily on corporate law, including mergers and acquisitions, business formation, business separations, and corporate, industrial and asset-based lending matters. His expertise is bolstered by an extensive professional background in business and finance….
September 24, 2019
Author: Kathleen Dempsey Boyle
As the retail centers and megamalls of yesterday evolve into the mixed-use developments of today, so too must the reciprocal easement agreements – REAs for short – that outline rights and responsibilities and keep the peace. Commercial real estate attorney Kathleen Boyle offers her insights on this all-important topic in this article reprint from the…
April 16, 2019
Author: Jeffrey Asperger
Overview With baby-boomers aging, and with over 95 million millennials in the job market, the importance of Non-Compete Clauses and Restrictive Covenants in employment agreements is sharply in focus. Boomers are at the age where they may be stepping back, retiring, or selling their businesses, while millennials and techies are starting businesses or changing employers….
March 26, 2019
MPS Law, a widely respected Chicago area business-to-business law firm, is pleased to welcome a pair of new attorneys to their downtown Chicago office. Kevin Purtill arrives as a partner specializing in commercial litigation, creditors’ rights and restructuring, banking and finance law. Max Guggenheim is an associate whose practice areas include commercial real estate, real…
March 15, 2019
Author: Timothy W. Brink
EDITOR’S NOTE: In this article from the American Bar Association’s Business Law Today, Tim Brink considers the ramifications of the Delaware district court’s opinion overturning the bankruptcy court’s decision in the Tribune Media Co. bankruptcy and holding that section 506(b) of the Bankruptcy Code does not bar recovery of post-petition contractual attorneys’ fees on unsecured…
February 28, 2019
Chicago-area law firm Meltzer, Purtill & Stelle (MPS Law) is pleased to announce two new partners: Steven H. Goodman as capital partner, and J.L. Cherwin Jr. as income partner. The move will further strengthen the firm’s ability to provide high-quality commercial real estate legal services to financial institutions, real estate developers, and the corporate, industrial,…
February 26, 2019
Author: Tim Brink
It is a quirk of the Bankruptcy Code that while it expressly allows oversecured creditors’ claims for post-petition contractual attorneys’ fees, it is silent as to the treatment of claims for post-petition contractual attorneys’ fees on unsecured claims. In part because the Supreme Court in Travelers Casualty & Surety Co. of America v. Pacific Gas…
November 30, 2018
Author: Jeffrey Asperger
Interpreting and understanding the terms and conditions of insurance policies can be a daunting endeavor. Failure to do so, however, can be disastrous for the uninformed policyholder who goes to make a claim, only to find the coverage is inadequate—or that the carrier has issued a denial. MPS Law is committed to helping our clients…
November 21, 2018
Author: Mark R. Raymond
When the “great recession” was in full bloom, the oldest baby boomers were approaching age 65 and the many business owners among them lamented missing the opportunity to “sell high.” Beginning in 2011 and every day since, over 10,000 boomers have reached age 65. Now that we are in an unprecedented period of economic growth,…
November 14, 2018
Author: Brian Meltzer
The purpose of this paper is to lay out a suggested procedure for a condominium association which desires to sell its building for de-conversion to do so in an orderly manner that will maximize the distributions to the unit owners and minimize the amount of time, effort, and conflict required to consummate the transaction. A….
November 2, 2018
CHICAGO (November 2, 2018) – In a move to bolster its already strong real estate presence, Chicago area law firm Meltzer, Purtill & Stelle (MPS Law) is pleased to announce the recent additions of Peter Levy and Julie Cunniff to its Real Estate Group. Levy joins MPS’s Schaumburg office as a partner and arrives with…
August 31, 2018
Hal Francke, a partner at Meltzer, Purtill & Stelle LLC (Chicago and Schaumburg, IL), has been named 2019 “Land Use and Zoning Lawyer of the Year” for the Chicagoland area by Best Lawyers®, the only annual publications of its kind in the legal profession compiled entirely on the basis of peer reviews. Francke is one of…
September 21, 2017
Author: Brian Meltzer
Brian Meltzer offers his insights about lessons learned and lingering issues from the real estate meltdown in a collaborative article from the September 2017 issue of The Practical Real Estate Lawyer . Reprinted with permission….
August 8, 2017
Author: Kathleen Dempsey Boyle, Cristina Hendrick Stroh, and Benno G. Rothschild
Kathleen Dempsey Boyle is a partner with Meltzer, Purtill & Stelle LLC in Chicago, Illinois. Cristina Hendrick Stroh is senior counsel—real estate legal for JCPenney in Plano, Texas. Benno G. Rothschild is a partner with Hartman Simons & Wood LLP in Atlanta, Georgia. There have always been marketplace-driven changes, and outparcel development has long been…
April 1, 2017
Author: Brian Meltzer
How to Sell Yourself: A Road Map for Condominium Sale/De-conversion The purpose of this paper is to lay out a suggested procedure for a condominium association which desires to sell its building for de-conversion to do so in an orderly manner that will maximize the distributions to the unit owners and minimize the amount of…
April 1, 2017
Author: Brian Meltzer
An Alternative to De-conversion The Dilemma Facing Some Aging Condominiums The housing crash resulted in dramatic declines in home values in the Chicago area. By 2017 home prices were recovering in many neighborhoods. However, in some neighborhoods, the values of condominium units, particularly those in moderate income buildings, have not recovered and may not recover…
January 11, 2017
Author: Brian Meltzer
The purpose of this paper is to lay out a suggested procedure for a condominium association which desires to sell its property to do so in an orderly manner that will maximize the distributions to the owners with the minimum amount of time, effort, and conflict. A. Background/De-Conversion Phenomena. Condominiums were first authorized in Illinois…
January 11, 2017
Author: Brian Meltzer
Introduction For decades, condominium developers made a profit by splitting the ownership of multifamily buildings into individual units and selling them at retail for significantly more than it cost to acquire or build the building. After the housing crash, circumstances were reversed, at least as it relates to those condominiums which fall into the category…