Real Property

The newsletter of the ISBA’s Section on Real Estate Law

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2025 Articles

Case Summaries By Joseph W. Rogul February 2025 Two recent Illinois cases are noted here that may be instructive in some practical respects for real state practitioners who have occasion to litigate similar issues.
Case Summary: Wells Fargo Bank, N.A. v. Rodriguez By Greg C. Anderson February 2025 Wells Fargo Bank, N.A. v. Rodriguez is of special interest to those involved in situations where a lender has filed multiple foreclosure actions against a borrower. Wells Fargo Bank initiated three separate foreclosure complaints against its borrower. The borrower was successful in having the third foreclosure case dismissed, based on a violation of the “single refiling rule.” The Third District affirmed the dismissal.
Did You Know? January 2025 Some of Illinois land is described as West of the 2nd principal meridian and some as East of the 4th principal meridian.
Killing the Golden Goose: Chicago’s Northwest Side Preservation Ordinance By Donald Hyun Kiolbassa & Emily Holmes February 2025 The City of Chicago's Northwest Side Preservation Ordinance gives tenants of residential real estate the right of first refusal to purchase the property. The Ordinance was passed allegedly to stop gentrification but, in practice, it is stripping away the rights of homeowners.
LAWPAC Needs You! January 2025 The Illinois Lawyers’ Political Action Committee (LAWPAC) needs your help to fulfill its mission to support the legislative goals of the ISBA and Illinois’ legal community.
Little Red Riding Hood: Private Equity Owning Law Firms By Donald Hyun Kiolbassa & Emily Holmes January 2025 Loosely speaking, private equity firms are investment companies that focus on private companies. A classic example of a private equity firm looks like this. For whatever reason, a business owner is looking to divest risk and exit the owner's business. The private equity firm comes in and buys the company from the founder.
1 comment (Most recent January 22, 2025)
The Logistics of Handling Powers of Attorney Under the Recent Amendments to the Act – Reasonable and Unreasonable Cause to Refuse By Michael J. Fleck January 2025 Senate Bill 3421 was enacted as Public Act 103-0994 on August 9, 2024, to be effective January 1, 2025. The Public Act makes certain changes to the Illinois Power of Attorney Act, specifically under Section 2-8. This article will focus on the practical logistics of handling powers of attorney due to these recent amendments, to minimize the chance that powers of attorney are rejected by a third party.
The New Multi-Board 8.0 Residential Real Estate Contract By Philip J. Vacco January 2025 While some technical issues with the 7.0 contract have been addressed, other issues have been created which will provide plenty of fodder for the legal profession to justify its continued involvement in residential real estate transactions. This article highlights some of these issues.
1 comment (Most recent January 22, 2025)
Save the Date: All About Real Estate Transactions on April 29 February 2025 Mark your calendars to attend our Real Estate Section’s webinar on April 29! 
Some IRS Changes for 2025! January 2025 A brief list of new IRS changes of interest to ADR practitioners.