MITIGATION OF DAMAGES IN IL COMMERCIAL LEASE DISPUTES
An Illinois landlord under a commercial lease must take reasonable measures to mitigate damages, . . . but only if mitigation of damages is required – which is not always. LEARN MORE
IMPOSSIBLE, IMPRACTICAL, FRUSTRATING, OR SIMPLY UNFORTUNATE: Enforcing Illinois Commercial Leases in the COVID Age*
On March 18, 2022, the Illinois Appellate Court issued its first opinion addressing efforts by a commercial tenant to escape liability under its lease by reason of the COVID-19 pandemic. 55 Jackson Acquisitions, LLC v. Roti Restaurants, LLC, 2022…
COOL PROJECTS – A Love Affair Revisited
Adaptive Reuse Of Underutilized Real Estate Cool Projects – A Love Affair Revisited We are entering a new frontier for adaptive re-use. The worldwide COVID-19 pandemic has left the urban commercial landscape in tatters. Shuttered vacant commercial…
SECTION 1031 EXCHANGE BASICS – Planning for 2021
Prediction: Tax rates will rise, and property values will increase in 2021 and beyond. IRC Section 1031 allows real estate sellers to defer payment of taxes . . . possibly forever.
COVID LEASE WORKOUTS
These are troubled times. The COVID pandemic is crushing some segments of the commercial real estate industry, including particularly retail and restaurants. In COVID-19 lease negotiations, I usually represent commercial landlords. When representing…
BEYOND THE PANDEMIC – Opportunity Awaits
If experience teaches us anything, it teaches that the COVID-19 pandemic will end. Things we enjoyed before, will be enjoyed again. People still want to shop, travel, dine-out, go to theater, attend live concerts and sporting events, marvel at…
Past-Due Rent Owed to Prior Landlord Not Recoverable by New Owner
"Unlike credit card debt and future rent that can be assigned, Illinois courts routinely hold that rent in arrears is not assignable."
DASS v YALE Overruled – Manager and Member Immunity No Longer the Law
For all attorneys and others planning for or litigating liability issues in relation to Illinois limited liability companies BEWARE that important substantive amendments to the Illinois Limited Liability Company Act have been enacted as Pubic Act…
OPPORTUNITY ZONE INVESTMENT – 2019 – In a Nutshell
Opportunity Zones are among the hottest of Hot Topics in real estate investment today. With the December 22, 2017 enactment of the Tax Cuts and Jobs Act that added Section 1400Z to the Internal Revenue Code, Opportunity Zones were authorized as a…
JOIN US at #CRETrends2019
Tuesday, September 10, 2019One North Wacker Conference Center – Chicago (UBS Tower)and Live Webcast About this Program