Real Estate: Illinois

THE FIRM A strong banking presence allows this 30-lawyer practice to represent financial institutions effectively, particularly regarding mortgage debt restructuring. The firm also has deep expertise in the wider real estate arena. The team's strong local presence is backed up by broad national national resources, attracting clients such as the US National Bank Association, Wells Fargo and Bank of America. Recently, the team acted as lead counsel to a private equity fund on projects in Texas, Florida, New Jersey, South Carolina, California and Arizona, as well as in Illinois.

Sources Say: “Extremely bright and well-qualified people who can go up against anyone.”

KEY INDIVIDUALS Senior partner Dennis Ferrazzano has been involved with LVMH in connection with commercial property purchases. According to clients he is "energetic, straight shooting and good on the details." Howard Kirschbaum is "as smart as they come" and represents significant organizations such as Ventas and First Bank. He is well regarded for his work in real estate finance. Howard Nagelberg served as primary counsel for Pacific Office Properties on a public offering of $400 million of senior common stock. He is known among market commentators as "aggressive, bright and analytical." Suzanne Bessette-Smith has been involved in financing a Shari’a-compliant hotel on behalf of a major financial institution. “She is a very good lawyer who is extremely talented and nice to work with,” interviewees report. Mark Beaubien enters the rankings following ringing endorsements from clients. His recent work has included advising on joint ventures, leasing, acquisitions and negotiations for such clients as Seagis, DCT Industrial Operating Partnership and KTR. 

THE FIRM A formidable team of 75 lawyers makes up DLA Piper's real estate practice in Illinois. Such a deep bench enables the group to handle a variety of real estate matters both in and outside the local area. In Illinois, the practice has acted on matters on behalf of clients including the Chicago Children's Museum; perhaps its most significant recent local work was its key role in the the ultimately unsuccessful Chicago bid to be host city to the 2016 Olympic Games. The team also undertakes real estate matters for major national organizations including BP and Bank of America. 

The firm has a strong presence in the land use and zoning arena and peers agree that it is a major competitor for work. Its lawyers regularly advice on complex, large-scale matters. 

Sources Say: “Head and shoulders above almost everyone else.”

KEY INDIVIDUALS Charles Edwards and Portia Morrison are held in the highest regard by peers and are noted as authorities on real estate law. Morrison is known for her work on the real estate finance side and has advised Prudential Financial on several loan renegotiations and modifications for investment properties. Richard Klawiter's impressive reputation has been enhanced by work such as his representation of Primestor Development on retail developments, securing $25 million in public financing and zoning approvals. James Beard has a strong practice, having represented Inland American Real Estate in the restructuring of loans totaling over $200 million. According to sources, “he has a bright head on his shoulders and good business sense.” Illinois practice chair Louis Cohen handles significant matters both locally and nationally, including representing the City of Beaverton, Oregon, with regards to a new stadium for the Portland Beavers. David Glickstein is highlighted for his strong practice on the lending side and maintains a strong reputation in this area. Former practice chair Harold Pomerantz focuses on complex commercial real estate transactions. David Sickle is recognized for his work in general real estate matters. Peers say: "He is talented, with a varied practice of traditional real estate work.” 

Zoning expert Theodore Novak also has experience of broader real estate matters. On the zoning side, he has been representing the Islamic Educational & Cultural Waqf Project in connection with the land use and zoning approvals and development issues relating to a 3.5 acre site. David Reifman is another zoning specialist, and has worked with Costco on various transactions. He also handles local zoning for Park Bank Initiatives.

THE FIRM This 40-strong team has expertise in distressed property, real estate finance, real estate funds and real estate litigation among other areas. Clients are impressed with the quality of the group's work product and peers praise its expertise in finance, particularly when representing lenders. The firm provides advice at the national as well as regional level, acting on high-value transactions across the country. Key clients include Bank of America and Merrill Lynch.

Sources Say: "Knowledgeable and thorough lawyers, but who don't get bogged down in the detail - when you tell them you need something, it gets done easily."

KEY INDIVIDUALS Chicago practice cochair Andrew Small handles numerous commercial real estate matters and is held in high regard within the market. He focuses on private equity capital raising, investment, finance and development for investors and financial institutions. Fellow cochair David Dlugie concentrates on the representation of financial institutions, but has also advised developers on acquiring and selling real estate. Mark Simon is known for his work on the lender side and his expertise in workouts. He represents both foreign and domestic lenders. David Bryant is experienced in representing real estate funds and establishing joint ventures. “He is constructive and easy to work with,” according to sources. 

THE FIRM Clients are impressed with Mayer Brown's skill when handling complex real estate transactions, and with its ability to forge strong relationships. An enviable client list includes such national organizations as GM and The Carlyle Group, which benefit from from the firm's national and international resources. In addition to advising on transactions across the USA, the firm acts on a large number of Illinois matters, particularly in the residential sector.

Sources Say: “Sophisticated, smart and practical.” 

KEY INDIVIDUALS John Gearen is someone interviewees “always hear good things about - he's certainly a star.” He represents numerous commercial banks, national insurance companies and pension funds on complex matters. Alvin Katz is respected for his knowledge, understanding and efficiency. He represents real estate investors and developers in joint ventures, acquisitions and dispositions and is lauded as “a really good lawyer with great business sense.” Jeffrey Usow is “very bright, astute and creative,” according to interviewees. He typically works with investment advisers, private investment funds, investment trusts and real estate operating companies. Highlights for Paul Meyer include a series of transactions on behalf of Cabot Industrial Value Fund, which totaled just over $200 million. Clients praise his "extraordinary technical skills and knowledge." 

Ivan Kane is identified as one of the strongest zoning lawyers around, and is praised as “terrific – bright and easy to work with.” He represents banks and insurance companies. 

THE FIRM Sidley Austin's 25-strong team constitutes one of the most sophisticated real estate practices in Illinois. It handles a broad range of issues including finance, transactions and development matters. Clients include private equity funds, hotel companies, investors, developers and financial institutions. The team receives particular praise for its skill in representing lenders, recently advising Wells Fargo on an approximately $400 million portfolio of defaulted loans.

Sources Say: “The people in this group are always first-rate.”

KEY INDIVIDUALS Lee Smolen is “very good technically, and well respected,” according to market commentators. This reputation is founded on his impressive work for lending organizations. Virginia Aronson moves up the rankings following market endorsement of lender-side expertise in a broad range of financing issues. “She is in the pantheon of great real estate lawyers of Chicago,” say sources. Transactional specialist Anthony Aiello represents financial institutions, REITs, real estate funds, utility companies, banks and developers in acquisitions and dispositions, development and construction. Charles Schrank has been one of the team's principal real estate lawyers in the representation of secured creditors holding positions in $2.25 billion of financing in connection with the bankruptcy of Station Casinos. He is considered a "premier attorney for sophisticated matters."

THE FIRM This team of 30 lawyers in Chicago handles a wide range of real estate matters including development, finance, leasing, construction, land use and tax-advantaged investing. The group tends to represent financial institutions and, as a consequence of its strong grasp of complex transactional issues, attracts work from such significant players as JPMorgan Chase, Prudential, Morgan Stanley and Bank of America. 

Sources Say: “They pay attention to detail and can cut through the minutiae to get the deal done.”  

KEY INDIVIDUALS Patrick Moran has been with the firm for over 30 years and is highly thought of by peers, particularly for his development experience. He has recently been involved in completing the leasing and development of a new 1 million sq ft office building in downtown Chicago. Clients say: "He is astute and able to get a deal closed. His nature and manner mean it takes him less time than others." Mark Mehlman has a broad practice that covers financing, hotel transactions, troubled loan workouts, acquisitions and dispositions and joint ventures. “He is a very good guy, personable, and willing to consider alternative approaches in deadlock situations." Jana Cohen Barbe has counseled clients in connection with more than $1 billion in tax credit equity investments in recent times. She works with various financial institutions and has an excellent reputation in the affordable housing arena. Eric Schiller is an experienced representative of major corporate and institutional clients. Finance committee chair Linda White acts for both landlords and tenants in complex leasing matters involving office and retail properties and has an excellent reputation as "a tough negotiator."Robert Messerly is a transaction and finance specialist described as “bright, with cutting-edge expertise.” Robert Fernandez is a “smart, quick up-and-comer" who has dealt with some sophisticated transactions for institutional lending clients. 

THE FIRM This local group has considerable expertise on the financial side of real estate matters. The team tends to represent lenders in acquisitions and dispositions of office, industrial, retail and residential real estate. Mortgage financing and mezzanine lending are also areas of strength.

Sources Say: “A top-quality midmarket firm with some extremely smart guys.”  

KEY INDIVIDUALS James Rosenbloom is an experienced practitioner with a focus on representing institutions and investors providing real estate finance. 

THE FIRM The 18-strong Chicago group is backed up by the expertise of more than 200 attorneys throughout the firm, which gives it considerable scope in cross-border matters. For example, the team recently advised Kimco Realty on the acquisition of retail properties in Mexico, Oregon and Washington. The team also served as local real estate counsel to the institutional investors on a $450 million loan for the acquisition of the Chicago Cubs.

Sources Say: “They are incredibly responsive and they staff appropriately.”

KEY INDIVIDUALS Chicago practice chair Corey Light is highly thought of for his work representing major retailers and developers. “He is a very good lawyer and a smart guy who you would welcome on the other side of a transaction,” say peers. Michael Fishman focuses on real estate finance, private equity and real estate fund formation. Clients value his "dedication to understanding our organization, as opposed to treating each matter as just a task to be completed." Milos Markovic recently joined the firm from Mayer Brown. He moves up the table thanks to his growing reputation for excellence in acquisitions, dispositions, development and joint ventures. He has also represented lenders and borrowers in financing matters.

THE FIRM This practice has a strong corporate focus and is highlighted for its ability to handle private equity and restructuring matters at a national and international level. With nine partners and 20 associates located in Chicago, it maintains a strong local presence. The team also has expertise in acquisitions and dispositions, REITs and debt transactions.

Sources Say: “Some of the most creative attorneys in the real estate world.”

KEY INDIVIDUALS Robert Buday took the lead for Centerpoint Properties Trust in the sale of around $750 million of Chicago industrial assets. Commentators call him “steady, practical and easy to work with.” Brian Davis joins the rankings this year. He is praised as "a diligent attorney who can comb through complex documents and reduce the material to easy-to-understand business points." He recently handled a lease transaction for a 1.5 million sq ft regional distribution facility located in Columbus, Ohio, for Whirlpool. Gary Axelrod has been involved in numerous hotel and resort matters and is held in high regard by clients. 

THE FIRM This group covers the full range of real estate law and is divided into three specific teams: the real estate practice, which comprises 22 members and advises on acquisitions and negotiations; the 15-strong commercial leasing group, which handles complex leasing matters on a local and national level; and the three-person real estate tax group, which assists with state and local property tax issues.

Sources Say: “The group excels at large, complex negotiations and finding solutions that are not readily apparent.”

KEY INDIVIDUALS Real estate practice group chair Stephen Berger represents real estate companies and individuals in the acquisition, development and financing of properties.

THE FIRM This firm has adopted a full-service approach to real estate following the combination in early 2009 of the Illinois land use and local government and real estate transactional practices as a single team. Its work includes advising on the acquisition, construction, financing and ownership structuring of various projects throughout the country. Recent highlights include assisting with the $75 million acquisition of a 40% ownership interest in a joint venture for a hotel and restaurant project in Chicago.

KEY INDIVIDUALS Zoning and land use specialist Victor Filippini is “a knowledgeable guy and a strong and insightful practitioner.” He has been involved in some significant zoning and development matters. 

THE FIRM Much of Jenner & Block's real estate work in Illinois stems from the firm's litigation and bankruptcy practices, including a recent focus on workouts and loan restructurings. For example, the firm represented GM in all real estate-related matters arising from its bankruptcy and sale of real estate assets. Typically, the group acts for real estate owners, developers, operators and lenders in acquisitions, dispositions and financing.

Sources Say: “Provides small-firm client service with big-firm resources.” 

KEY INDIVIDUALS Donald Resnick chairs the practice and handles commercial real estate matters on a local and national level, representing clients in a variety of transactions. Clients praise his "leadership ability, negotiation skills and business acumen."

THE FIRM Considerable national expertise enables this team to handle complex transactions in all areas of real estate.  The group of 13 lawyers in Chicago has expertise in such matters as acquisitions and dispositions, workouts, leasing, development and joint ventures. Key clients include Morgan Stanley and Credit Suisse.

Sources Say: “They’re very talented and their rates are reasonable.” 

KEY INDIVIDUALS Worldwide practice co-head Robert Lee has been involved in a number of fund formation matters. Interviewees describe him as "very bright - he can think through the complex issues.” 

THE FIRM The merger of Bell, Boyd & Lloyd with K&L Gates has enabled the real estate group to further expand its geographical reach and range of work. The team offers a number of services including leasing, development, finance and zoning and land use advice. The firm has also developed a distressed real estate practice, which has thrived in the aftermath of the economic downturn.

Sources Say: “Great real estate lawyers who put client advocacy first.”

KEY INDIVIDUALS Terrence Budny“really knows how to get deals done,” and has a practice centered on real estate finance, particularly the representation of lenders on complex matters. The experienced Thomas Homburger also handles real estate finance, as well as development and investment matters. Sale and leaseback transactions are a particular area of expertise. 

THE FIRM This local practice has a team of ten real estate attorneys, three finance lawyers and five condominium specialists. As a result, it is able to provide effective assistance across a broad range of real estate transactions. The group represents clients throughout the USA on retail, residential and multifamily development, construction, investment and leasing matters.

Sources Say: “They identify issues quickly so decisions can be made and stalemates avoided.”

KEY INDIVIDUALS Commercial real estate specialist David Berzon also has expertise in debt and equity financing, joint ventures, leasing and workouts. He joins the table thanks to praise from clients for "his business-like approach." 

THE FIRM Paul Hastings debuts in the rankings as its 15-strong Chicago practice continues to grow in reputation. The team's expertise includes development, fund formation, private equity investment, REITs, sale and leaseback and joint ventures matters. Its key clients include LaSalle, GE and Orix Real Estate Capital, which also benefit from the firm's nationwide resources.

Sources Say: “They know when to take a stand and remain levelheaded in the heat of negotiations.”

KEY INDIVIDUALS Daniel Perlman's reputation as "an acutely intelligent lawyer with intuitive business sense" has been of great value in such high-profile work as the recent representation of a seller of a 38-acre site to the Chicago 2016 Olympic Committee and the City of Chicago. Gregory Spitzer is “an in-the-trenches kind of guy who operates at a high level.” He has a focus on complex real estate transactions.

THE FIRM The addition of three new partners in 2009 takes the size of this team up to nine partners and five associates. The group deals with transactions, financing, land use and commercial leasing matters and has a strong focus on local work. The City of Chicago and Citibank are key clients, although the lawyers also advise on national-level matters for MillerCoors and John Hancock among others.

Sources Say: “Great advocates of their clients and excellent at finding solutions.”  

KEY INDIVIDUALS National practice chair Peter Sarasek is a "terrific leasing lawyer" who also has experience in multistate conduit lending. 

THE FIRM A team of 23 Chicago-based attorneys deals with some complex issues including a number of multimillion-dollar REIT matters and some important acquisitions locally and nationally. Backed by nationwide resources, the group counsels individuals, corporations and other business entities on a broad range of real estate issues.

Sources Say: “Top-notch in everything we have asked of them.”   

KEY INDIVIDUALS Joel Rubin moves up the rankings thanks to praise for his experience in real estate, pension fund, and corporate law. 

THE FIRM This group is best known for its representation of developers in zoning and land use issues. The team also deals with private equity and transactional matters, which adds to the depth of its expertise.

KEY INDIVIDUALS Jack Guthman is “one of the deans of Chicago and Illinois zoning.” His experience as a former zoning board of appeals chair is invaluable to clients. Fellow specialist Edward Kus"knows more about City of Chicago zoning than almost anyone else," and also has experience in real estate development. Anthony Licata heads the firm's real estate practice and has handled several complex transactions. 

THE FIRM This group assists purchasers, sellers, developers and lenders with the acquisition, financing, sale, development and leasing of commercial, industrial and multifamily properties. Clients benefit from the firm's broad national corporate, tax, environmental and litigation expertise, which translates into teams tailored to specific projects.

Sources Say: “Responsive and efficient, these guys really know their real estate.” 

KEY INDIVIDUALS Christopher Murtaugh focuses on commercial property investment and disposition, real estate development and lending matters. He has experience of working in multiple states and is lauded for his "many years of experience" and focus on "looking to complete deals, not obstruct them.” Complex commercial real estate transactions dominate Mark Henning's workload. He also heads the real estate side of the leveraged leasing practice. 

THE FIRM This group of 16 attorneys handle a wide range of development matters, from retail and housing to hotels and golf courses. The team also has expertise in the financing, acquisition, disposition and leasing of various major projects both locally and nationally. The firm is also prominent in the land use arena.

Sources Say: “Extremely knowledgeable and easy to work with. They don't have big egos.” 

KEY INDIVIDUALS Alexandra Cole is firmwide chair of the real estate practice.