Real Estate and Privatization

Since the firm's founding, PJJ has served its clients’ needs in commercial real estate transactions, commercial real estate litigation and commercial leasing and foreclosures. The firm's Real Estate Practice Group provides a broad range of legal proficiency, experience and practical knowledge in all facets related to real property. Our attorneys represent public and private entities, as well as local and national organizations and agencies, corporations, partnerships, entrepreneurs, financial institutions, operators, developers and individuals in the business of developing, owning, managing and operating real estate assets. We have extensive experience in commercial real estate transactions, including acquisitions and dispositions, privatization, development, leasing, financing and construction with the negotiation and drafting of design/build contracts.

Our services include:

Acquisitions and Dispositions
Real Estate Backed Financings
Private/Public Partnerships
Retail and Office Development/Construction Transactions
Condominium and Homeowners' Association Formation and Operations
Complex Commercial Leasing
Land Use and Zoning
Banking and Finance Services
Property Tax Appeals

Our Experience:

ACQUISITIONS & DEVELOPMENT

  • Acted as Counsel to a City Agency regarding the acquisition, development and disposition of single-family and multifamily residential housing units across the Chicagoland area in connection with the Chicago Neighborhood Stabilization Program.      
  • Purchaser’s/Developer’s Counsel to a Health Consortium in the acquisition and development of the East End Project (former Solo Cup building).  Project involved financing vehicles consisting of Tax Increment Financing.
  • Developer’s Counsel to a Development Company in connection with the redevelopment, including demolition, zoning, infrastructure and construction, of approximately 100 acres of land known as the ABLA Homes public housing development, located in Chicago, Illinois.  The Project, which is known as Roosevelt Square, consists of the development of 2,441 low-income, affordable, market-rate rental, and for-sale housing units, including all associated infrastructure and site improvements. 
  • Developer’s Counsel to an Educational Development Company in connection with the acquisition of real property and the redevelopment and construction of such real property into 250 units of student housing located at Southern Baton Rouge, Louisiana University.

FINANCING

  • Lender’s Counsel to a local banking institution in connection with the workout and foreclosure of various defaulted commercial loans.
  • Lender’s Counsel to a Christian Credit Union in connection with the financing of a 10,000 seat church facility known as the House of Hope, Salem Baptist Church, Chicago, Illinois.
  • Lender’s Counsel to a regional banking institution regarding the issuance of a letter of credit facility in connection with the construction of a facility in favor of The Better Boys Foundation.
  • Lender’s Counsel to a regional non-profit organization regarding the issuance of a letter of credit facility in connection with the construction of a YMCA facility.  
  • Lender’s Counsel to a local banking institution in connection with the financing of a refrigerated storage facility to be located on the Northwest side of Chicago. 

COMPLEX COMMERCIAL LEASING & REDEVELOPMENT

  • Owner’s Counsel to the City of Chicago Department of Aviation regarding the negotiation of a Redevelopment and Concession Management Agreement with Westfield in connection with Terminal 5 of O’Hare International Airport.
  • Tenant’s Counsel to the Chicago Housing Authority in connection with the leasing of its new headquarters located at the CNA Building, Chicago, Illinois.

PRIVATIZATION TRANSACTIONS

  • Lead Real Estate Counsel to the City of Chicago Department of Finance in connection with the privatization of the Chicago Skyway Toll Bridge.  The Project consisted of the privatization of a public asset to a private consortium via a Concession Lease Agreement having a 99 year Term.
  • Lead Real Estate Counsel to the City of Chicago Department of Finance in connection with the privatization of the four publicly held underground parking garage structures located beneath Chicago’s highly acclaimed Millennium Park. The Project consisted of the privatization of the public assets to a privately held company via a Concession Lease Agreement having a 99 year Term.
  • Lead Real Estate Counsel to the City of Chicago Department of Finance in the effort to privatize of Midway International Airport.

FORECLOSURE WORK

  • PJJ handles mortgage foreclosure work for a regional community development bank, providing services including: initial title search and review; initiating litigation to foreclose mortgages, enforcing promissory notes and enforcing guarantees; scheduling judicial sales, obtaining judicial confirmation of sales and recording deeds.