Chicago Real Estate Law Firm

For owners and managers of investment real estate your legal obstacles are formidable. For those of you who own or manage property in Chicago, the Residential Landlords and Tenants Ordinance cannot be ignored.  Similarly, those of you who own or manage property in suburban Chicago, the analogous state statutes are equally complex.  Moreover, as the years go by, the tentacles of the law continually cast a greater net over your operation. The Illinois Consumer Fraud and Deceptive Trade Practices Act as well as the Federal Debt Collection Practices Act are two other laws that directly affect your business.  Countless class action lawsuits have been initiated by attorneys representing “victimized” tenants.  These suits are difficult and expensive to defend.  To add insult to injury, if a landlord is found to have violated any of these laws, it will be responsible for the tenant’s attorneys’ fees.  Thus, these statutes are frequently used by tenants’ attorneys to extract reimbursement of their fees from the landlord as part of the settlement process. 

We provide expert counsel on how to avoid these problems before they arise and how to defend yourself once they have arisen.  Our clients include those who own property and manage residential apartment complexes, condominium buildings and other commercial properties.  The real estate laws frequently make distinctions between residential properties and other types of commercial properties.  We have expert knowledge regarding these differences and provide  legal counsel to those who own/manage one or both of these types of real estate. 

We also have expertise in negotiating, preparing and reviewing all types of leases especially those concerning commercial properties.  Whether the property is multi-unit apartment building, in a large shopping center, suburban strip mall or a stand-alone building, we can advise you as to how best to maximize the return on your rental property.

By applying our extensive knowledge of property rights, real estate issues, finance and business, we are able to work with you to resolve all important real estate issues, including:

Unfortunately if you own or manage rental  or condominium properties, evictions are a fact of life.  The volume of eviction cases adjudicated through the Cook County court system on a daily basis is substantial.  The judges need to move their dockets quickly and efficiently.  Thus, you need an attorney who is knowledgeable concerning the practices and procedures of each eviction judge so that your eviction cases are resolved expeditiously.  Commercial evictions require specialized attention especially because the amount of past due rent sought to be collected is far greater than for a residential eviction.  We are experienced in properly adjudicating both commercial and residential evictions wherein collecting the past due rent may be as important as evicting the tenant. 

Have you ever been sued by a tenant, especially one represented by a fair housing clinic?  The experience can be a nightmare, especially if you are faced with a class action lawsuit.  Did you fail to properly pay interest on tenant security deposits?  Have you ever been accused of failing to return a security deposit in a timely manner?  How about a constructive or retaliatory eviction?  Unfortunately, attorneys have discovered that specializing in tenant representation can be lucrative. Thus,  landlords and management companies need to have experienced legal counsel on their side. 

Your goal is to complete the foreclosure process as quickly and efficiently as possible. We have the experience and skill to meet your goal. We assist our clients through the foreclosure process for both commercial and residential properties including the steps necessary to obtain interim relief (i.e., appointment of a receiver). We represent clients in both contested and uncontested foreclosure proceedings as well as  the defense of counterclaims, that may prevent a successful foreclosure. Letour extensive experience in foreclosure proceedings assist you in these matters.

We represent both sellers and buyers in residential and commercial real estate transactions.  Commercial real estate closings require specialized attention because, despite what you may hear, each transaction is unique. Whether the property is mult-unit apartment complex,  a property to be used for your business or other investment opportunity our firm provides the expertise and skill to deal with the lender, evaluate cash flow, prepare, review and negotiate the contract.

Many of our clients are engaged in the business of real estate construction and rehab.  Whatever role you play in the project, legal representation is important.  Our clients include developers, GCs and subcontractors.  We prepare, review and negotiate the agreements you need so as to ensure that your compensation, responsibilities and the like are well defined.  Unfortunately, in your line of work litigation is a frequent occurrence.  Your rights and obligations under the Mechanic’s Lien Act can be complex, requiring the skills of an attorney well versed in the law.  We can expertly counsel you through the construction process to ensure that your right to payment is protected once your work is completed.

We also represent property owners who need to retain construction professionals for their project.  Our services include drafting, negotiating and reviewing agreements with your general contractor, advising you on construction escrows and the procedures for obtaining your partial and full lien waivers.  If litigation arises, whether it is a claim relating to a contractor's lien, construction defects, breach of warranty or failure to comply with contractual obligations, we have the necessary skills to both prosecute and defend complex  construction litigation on your behalf.

We also represent real estate brokers and agents concerning disputes that arise with a licensing authority, buyers, sellers and other brokers/agents.  Whether the dispute concerns compensation, a failed transaction or an allegation of misappropriation, we have the experience and expertise to efficiently and economically represent our clients in these matters.

The Law Offices of Michael B. Elman & Associates, Ltd. is conveniently located in Chicago’s loop close to public transportation and within walking distance of the state and federal courthouses. We serve clients throughout the Chicago Metropolitan area and those looking for a local presence.

Call the Law Offices of Michael B. Elman & Associates, Ltd. at 312.541.0903 or contact us online to schedule your free consultation.