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…
Russ Robinson, joined MPS Law as a partner on July 1, along with his Robinson Payne LLC colleagues Rich Payne and longstanding paralegals Wendy Widmayer and Melissa Wolf. Robinson’s law practice focuses primarily on estate planning, estate and trust administration, charitable distributions, and counsel for high-net-worth individuals and families. He’s been practicing for 40 years….
Sam Schumer’s deft skills in litigation, investigatory research, and case strategy delivered two wins for one of his clients. The case involved two business partners who jointly owned a portfolio of restaurant franchises located throughout the Chicagoland area. The partners’ relationship significantly deteriorated over personal issues, with the partners ultimately agreeing to part ways through…
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….
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…
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…
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…
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…
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…
Contributing Editor: Ray Horn is a Member with Meltzer, Purtill & Stelle LLC, a law firm with offices in Schaumburg and Chicago and is also Executive Vice President and a member of the Board of Directors of MBBI. Ray can be reached by phone at (847) 330-2430, and by email at RHorn@MPSLaw.com. Success in an…
When constants are discussed, why do death and taxes always come up? Why not prosperity and relaxation? Well, actually change is the true constant and change is always unsettling. Planning around and in anticipation of changes requires constant awareness and flexibility. Many business owners “knew” in 2006 that they would transition their business long before…
On October 13, 2015, Chicago Municipal Code, Chapter 2-45-115, the 2015 Affordable Requirements Ordinance (“2015 ARO”) became effective. Go to www.cityofchicago.org/ARO to find a copy of the 2015 ARO, the 2015 ARO Enhancements Summary published by the City of Chicago, and 2015 Affordable Requirements Ordinance Rules and Regulations issued by the City under the 2015…
