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Recent Blog Posts

Commercial Real Estate Valuation - What Investors Need to Know

 Posted on June 18, 2019 in Commercial Real Estate

Oak Brook commercial real estate lawyersAlthough there are many aspects that go into determining a commercial real estate investor's overall return on investment (ROI), the valuation of each property is one of the cornerstones. What do you need to know about property valuation to improve your overall ROI in commercial real estate (CRE), and how can a seasoned real estate lawyer help? The following explains.

There is More Than One Way to Valuate a Property 

Property valuations are not as cut and dry as some might like you to believe. Instead, there are multiple approaches that one can use to determine what their final ROI on a property might be.

The first is the cost approach, which examines the amount of money that it might take to procure a property and, if necessary, rebuild it. This is typically used for unique properties, as well as those that need or have undergone extensive repairs or upgrades.

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5 Responsibilities of a Commercial Real Estate Landlord

 Posted on June 11, 2019 in Commercial Real Estate

Naperville commercial real estate lawyerWhile it is true that you can boost your income and perhaps even build a nest egg with commercial real estate (CRE) investing, those who are not equipped to handle the process risk significant financial loss. First, there is the risk of a failed return on investment - an issue that can often be mitigated using seasoned legal assistance during each step of the transaction process. Then there is the chance that you may be sued if you fail to meet your legal obligations as a landlord. What are these obligations, and how can an attorney help you meet them? Continue reading to learn more.

1. CRE Landlords Are Required to Adhere to All Local and Federal Laws

All landlords are required to follow certain local and federal laws. Commercial landlords are no exception. You cannot discriminate based upon certain criteria (race, religion, etc.). Furthermore, you must adhere to all building codes and zoning laws. Failure to meet any one of these obligations can result in serious consequences, including (but not limited to) legal recourse.

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Three Things to Know Before Entering the “Green” Commercial Real Estate Market

 Posted on June 04, 2019 in Commercial Real Estate

Oak Brook commercial real estate lawyersAlthough the big debate over global warming has made headlines in recent years, the scientific consensus is overwhelming: the planet is getting warmer, and it is happening at an alarming rate. This information, paired with the growth of the “green movement,” has increased the demand for eco-friendly applications in almost every industry. Commercial real estate (CRE) is no exception.

What does it mean to “go green” in the CRE industry, and how can you ensure that you get ahead of this trend? More importantly, how can you increase the chances that your green efforts will be profitable for your real estate company? Learn more in the following sections, including how the assistance of a seasoned CRE attorney can boost your profitability in the green CRE sector.

1. The “Green” Trend is Here to Stay

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Challenges Homebuyers Can Expect to Face This Spring (and How to Handle Them)

 Posted on May 22, 2019 in Residential Purchases

Oak Broom real estate lawyersPurchasing a first home is one of major steps in developing long-term financial stability. Sadly, many buyers are learning that the market's favor is no longer on their side. Still, with the right tools and resources, it is entirely possible to make your home purchase dreams a reality this spring. Learn more in the following sections, including how a seasoned real estate lawyer can help to tip the scales and even the play field as you enter the negotiaiton process in your home purchase.

Low Inventory and Higher Prices

During the Great Recession, investors flocked to the housing market. Many of them now own a significant percentage of livable homes throughout the country. While this may be good news for renters, who often struggle to find rental properties in high-demand areas, it also decreases the number of homes available for sale. This issue, paired with the slowdown of new housing construction after the Great Recession, means that home purchase prices are high right now, and will likely to remain high for the rest of the cycle.

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CRE Development Basics: Building a Neighborhood That People Want to Live In

 Posted on May 15, 2019 in Commercial Real Estate

Naperville real estate attorneysPeople measure real estate success in different ways. For some, it is their bottom line. Others only feel they are successful when they meet a certain investment goal (i.e. closing a specific number of deals in a year). Still, there are some who set their sites on sustainable, long-term wealth.

Building a Neighborhood - How Positive Community Impact Improves Investor Wealth

While there are those who fail to see the correlation between community development and long-term wealth, data shows that small-scale developers tend to build a stronger, more stable stream of income when they become intimately involved with the community in which they are developing. That is because they take interest in what the community wants, rather than simply relying on what is “trending,” which can be extremely important in certain parts of a city.

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How Important is Price in a Commercial Real Estate Transaction?

 Posted on May 08, 2019 in Commercial Real Estate

Naperville CRE lawyersWhen it comes to investing in commercial real estate, there are many factors that determine your final return - but just how important is the price of a property? Perhaps not as much as you think. Learn why in the following sections, and discover how our seasoned Naperville commercial real estate lawyers can provide you with additional leverage in your next CRE transaction.

Examining the Relevancy of Price in a CRE Transaction

While, ultimately, price does have an impact your bottom line in a real estate transaction, it may be far from the most important factor. Instead, matters like taxation, the potential long-term return on investment (ROI), utility costs, and other relevant issues may ultimately trump the importance of price on an investment property. As an example, consider the growth of Wham!, which started out at around $2.5 million for 50,000 square feet of space, but now weighs in around $11.5 million. If the investors who started out in this industry had been concerned about price in the beginning, they might have missed out on a highly profitable opportunity.

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Should You Sell Your Home to an iBuyer? Examining the Potential Pros and Cons

 Posted on April 16, 2019 in Naperville Real Estate Lawyer

Illinois real estate attorneysAs technology advances, the way we handle everyday tasks changes. One prime example is the way that home buying has changed over the last few years. Long gone are the days when you must spend days (perhaps even weeks) viewing houses in person. Instead, you can take a virtual tour using drones and cameras. You can even complete your entire real estate transaction using technology.

One emerging technology trend in real estate is the iBuyer. This option allows homeowners to quickly and almost seamlessly sell their homes without the fanfare that is typically seen in a more “traditional” real estate transactions. Yet, like most things in life, there are some drawbacks to selling your home to an iBuyer. Learn more about them in the following sections, and discover how a seasoned real estate lawyer can help protect your interests, regardless of how you decide to sell your home.

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Landlord-Tenant Laws - Understanding the Basics of Tenant Rights

 Posted on April 09, 2019 in Landlord-Tenant Dispute

Oak Brook landlord-tenant dispute lawyersRenting out residential property out can give you a steady stream of income and increase your ability to build your wealth or a nest egg for your retirement. There are some risks involved, however.

Tenants may default on their rent or cause damage to the property. You could even be subject to a costly lawsuit if you violate the landlord-tenant laws imposed by local, state, or federal municipalities. Thankfully, by being educated and ensuring you have the right protections in place, you can decrease your risk of such issues. Learn more in the following sections.

Federal Landlord-Tenant Laws 

While most landlord-tenant laws are imposed at the state level, the federal government oversees two of the most basic and well-known ones:

The Fair Housing Credit Act - Restricts landlords from discriminating tenants based on their race, national origin, color, religion, sexual orientation or status, or status of disability. It is important to note that this law extends beyond the rental criteria or approval process; it also restricts landlords from making discriminatory remarks in their marketing or advertising; and

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Zoning and Entitlements in the Commercial Real Estate Development Industry

 Posted on April 02, 2019 in Zoning and Land Use

Oak Brook zoning and land use attorneysFew things in life are as satisfying as the purchase of an undeveloped plot of land. It is, essentially, a blank slate, an opportunity to build your vision. Land development requires more than just an idea, however. Investors must also navigate through a complex set of nuanced rules and regulations. Overseen and enforced by local, state, and even federal municipalities, the laws of greatest concern relate to how the land can be used. Learn more about zoning and entitlements in the commercial real estate industry (CRE) in the following sections.

Zoning and Entitlements - What Are These Laws and Why Do They Matter?

New CRE investors are often surprised to discover just how important zoning and entitlements are to their real estate projects. Able to bring a development project to a complete standstill, zoning and entitlement issues can hike up costs and threaten a project's completion. So what, exactly, are these laws, and how can you avoid them in your investment projects?

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CRE Investment Basics - Should You Wait for the Next Real Estate Crash to Make Your Move?

 Posted on March 19, 2019 in Commercial Real Estate

Illinois real estate attorneysTariffs, shortages within the construction industry, and the increasing costs associated with purchasing or renting a property point to the possibility of an impending real estate down cycle. It might be tempting to wait out this cycle, in hopes of making it big in commercial real estate (CRE) like many others did during the Great Recession, but is it a sound strategy? The following sections highlight the potential downfalls of holding out until the next market crash, and it explains how you can begin to take immediate steps toward successfully breaking into the CRE investment market.

Waiting to Invest in Commercial Real Estate - Sound Strategy or Major Mistake?

For those who have not yet entered the CRE investing market, waiting may seem like a sound strategy. However, seasoned investors know the truth: breaking into the market takes time. Knowledge must be acquired, and relationships must be built. These resources are all critical to success for investors, and if you wait to break into the market, you may struggle to find the ones that you need the most. Part of that is due to the changes that happen within the market when a crash occurs. Banks and lenders may merge, or they may tighten their lending criteria. Others may disappear entirely, even after approving your loan, leaving you without proper funding. In short, if you want to invest in the commercial real estate market, the time to get started is now.

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