August 2, 2021

MPS Law Bolsters Team with New Associate Attorney, Paralegal

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

Ray Horn Featured on MBBI’s Inaugural “Trends in M&A” Podcast

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

MPS Law Welcomes Evan Blewett as Partner

Evan D. Blewett 300 South Wacker Drive, Suite 2300 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 4, 2021

“Condolike Conversions” Coming to a Mall Near You

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

Suggested Legal Structure for Owner/Occupied Affordable Housing Developments Using Blanket Mortgage Financing

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

MPS Law Elevates Holly Shuman to Partner

Holly G. Shuman 300 South Wacker Drive, Suite 2300 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

TEN THINGS WE DO TO SAVE OUR TENANT CLIENTS MONEY

Author: Scott Hargadon

CONTACT 300 South Wacker Drive, Suite 2300Chicago, 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

PROCEED WITH CAUTION WHEN REJECTING A SUBTENANT’S PROPOSED SUBLEASE ASSIGNMENT

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

Q AND A: HOLLY SHUMAN ON GETTING THE DEAL DONE FOR HER CLIENTS

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

Q AND A: SCOTT HARGADON ON THE IMPORTANCE OF REPRESENTING TENANTS

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

INSURANCE ISSUES IN SINGLE TENANT LEASES

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

TEN THINGS TENANT BROKERS SHOULD DO IN LETTERS OF INTENT

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

TEN THINGS TO CONSIDER IN CO-WORKING AGREEMENTS

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

Q&A: MICHAEL DASH OF CBRE ON “GETTING THE DEAL DONE”

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

MPS LAW OFFICES REOPENING MONDAY JUNE 15

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

Q&A: DAVID FRIEDLAND OF CUSHMAN & WAKEFIELD ON NEGOTIATING INDUSTRIAL LEASES

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

KATHY BOYLE NAMED TO AMERICAN COLLEGE OF REAL ESTATE LAWYERS’ CLASS OF 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

A Message To Our Clients Concerning Coronavirus

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

MPS Law Welcomes John Lipic as Partner

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 Announces Two New Partners

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 Welcomes New Associate Kevin Flavin

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

RECIPROCAL EASEMENT AGREEMENTS IN A CHANGING LANDSCAPE

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

The Bark of the Covenant: Failure to Define and Negotiate Non-Compete Clauses and Other Restrictive Covenants Can Come Back to Bite You

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 Adds Attorneys Purtill, Guggenheim

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…

February 28, 2019

MPS Law Announces Two New Partners

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

Delaware District Court Overturns Bankruptcy Court Decision Disallowing Unsecured Claim for Post-Petition Contractual Attorneys’ Fees

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

Recent Illinois Decision Appears To Eliminate Liability Of Independent Insurance Agents For Negligent Procurement Of Coverage

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

Boomers Seek Business Succession

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

Condo Deconversion: How to Sell Yourself

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

MPS Law Adds Peter Levy, Julie Cunniff to Real Estate Group

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 8, 2017

We Finally Got A Piece Of The Pie — Perimeter And Outparcel Development

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

How To Sell Yourself: A Road Map For Condominium Sale/De-Conversion

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

The Hybrid Condominium

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

How To Sell Yourself A Road Map For Condominium Associations

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

Co-Opdominium: A Path To Affordable Condominium Unit Ownership

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…

September 12, 2016

Advisor Fit is a Key to Transaction Success

Author: Ray Horn

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…

November 10, 2015

Some Business Owners Still Hope To Retire

Author: Mark R. Raymond

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…

October 13, 2015

The 2015 ARO Promoting Affordable Homeownership in Chicago’s Neighborhoods

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…