Real Estate Law

Real Estate Law Update 2022 - Part 1

Presented by the ISBA Real Estate Law Section

3.25 hours MCLE credit


Original Program Date: October 12, 2022
Accreditation Expiration Date: April 16, 2025 (You must certify completion and save your certificate before this date to get MCLE credit)


Join us for this seminar that examines recent case law updates and legislative changes from the past year. New attorneys, experienced lawyers, and non-real estate practitioners will also learn more about Transfer on Death Instrument and easements.

Program Coordinator:
Cheryl A. Morrison, Law Office of Cheryl A. Morrison, Mokena

Program Moderator:
Laura L. Lundsgaard, Laura L. Lundsgaard Attorney & Counselor at Law, LLC, Inverness


Case Law Update
Don’t miss this opening segment as we examine the most recent case law impacting your real estate client, as well as our speaker’s best practice tips and advice regarding these changes.
William J. Anaya, Greensfelder Hemker & Gale P.C., Chicago
Emily R. Vivian, Ehrmann Gehlbach Badger & Considine, LLC, Dixon

Legislative Update
Learn about real estate-related legislation that was passed during the 2021-2022 session with this informative segment.
Bruno W. Tabis, Huck Bouma, P.C., Wheaton

Overview of Transfer on Death Instrument
Join us for this comprehensive overview of the Transfer on Death Instrument Act, including how and when it might be beneficial to your client, and how recent changes to the Act may affect your practice.
Donald Hyun Kiolbassa, Attorney at Law, Ltd., Chicago

Easement Primer
Get the information you need about easements, including utility easements, relocation of easements, and cross easements for shopping centers and strip malls.
R. Kymn Harp, Robbins DiMonte, Ltd., Chicago
Ted M. Niemann, Schmiedeskamp Robertson Neu & Mitchell, LLP, Quincy

*Originally presented as part of the Real Estate Law Update 2022 program. Find more sessions in this series in the ISBA On-Demand CLE catalog.
Pricing Information
  • Please Note: You must attend the entire program in order to earn MCLE credit for this seminar.
  • ISBA sponsoring section members get a $10 registration discount (which is automatically calculated in your cart when you log in to register).
  • Fees:
    • ISBA Member Price of $97.50 is displayed below when you login and program is eligible for Free CLE member benefit
    • Non-Member Price $162.50
    • New Attorney Member (within the first five years of practice) - $25
    • Law Students - Free

Parking: Special Issues in Commercial Leases - A National Perspective

Presented by the ISBA

0.75 hour MCLE credit

Original Program Date: September 1, 2022
Accreditation Expiration Date: ­­­­­­­­­­­­­­­­­­­­­­­­­April 20, 2025 (You must certify completion and save your certificate before this date to get MCLE credit)


The right of tenants – and their employees and customers – to park can be one of the most important elements of office and retail leases. Physical space is often sparse and expensive, making parking spots even more dear. Tenants want absolute rights to parking and to ensure attendant services – e.g., snow removal, maintenance, etc. – while landlords want maximum flexibility, including the right to reclaim spots. This program will provide you with a practical guide to spotting parking issues in commercial leases, and negotiating effective rights for your clients.
  • Demised spaces v. rights to park
  • Types of rights to park – general rights v. exclusive rights
  • Issues for lots v. parking garages
  • Duties to patrol employee use of parking spots
  • Economic issues for landlords and tenants, including CAM
  • Parking as zoning issue – ratio of office/retail space to parking spots
  • Reclamation of parking spots by landlord for later development

Speaker:
Anthony Licata is a partner in the Chicago office of Taft Stettinius & Hollister LLP, where he formerly chaired the firm’s real estate practice. He has an extensive practice focusing on major commercial real estate transactions, including finance, development, leasing, and land use. He formerly served as an adjunct professor at the Kellogg Graduate School of Management at Northwestern University and at the Illinois Institute of Technology. Mr. Licata received his B.S., summa cum laude, from MacMurray College and his J.D., cum laude, from Harvard Law School.

Percentage Rent Leases in Commercial Real Estate - A National Perspective

Presented by the ISBA

0.75 hour MCLE credit


Original Program Date: July 14, 2022
Accreditation Expiration Date: ­­­­­­­­­­­­­­­­­­­­­­­­­April 17, 2025 (You must certify completion and save your certificate before this date to get MCLE credit)


Percentage rent is used in retail leases where the landlord has bargaining power to demand a share of the tenant’s economic gains. Demand for retail space may be high or a landlord’s specific location may be particularly attractive such that the tenant is willing to pay not only a fixed amount of rent but a share of its gross revenue. These types of leases require a sophisticated understanding of the underlying economics of tenant’s business. These leases also require very careful drafting. How is gross revenue defined? Is there a minimum amount or a maximum amount? How are these numbers verified? And what are all the related protections for the landlord or the tenant? This program will provide you with a practical guide to negotiating and drafting percentage leases.

  • Circumstances where percentage rent is commonly seen
  • Economics of percentage rent – landlord and tenant perspectives
  • Defining key terms – “gross sales,” exclusions, percent of rent
  • Determining thresholds – minimum rent, sliding scales
  • Financial reporting and audit rights
  • Important related provisions – non-competition, continuous use, payment terms

Speakers:

John S. Hollyfield is of counsel and a former partner in the Houston office Norton Rose Fulbright, LLP. He has more than 40 years’ experience in real estate law practice. He formerly served as chair of the ABA Real Property, Probate and Trust Law Section, president of the American College of Real Estate Lawyers, and chair of the Anglo-American Real Property Institute. He has been named a "Texas Super Lawyer" in Real Estate Law by Texas Monthly magazine and is listed in Who’s Who in American Law. He is co-editor of Modern Banking and Lending Forms (4th Edition), published by Warren, Gorham & Lamont. He received his B.B.A. from the University of Texas and his LL.B. from the University of Texas School of Law.

Richard R. Goldberg is a retired partner, resident in the Philadelphia office of Ballard Spahr, LLP, where he established an extensive real estate practice, including development, financing, leasing, and acquisition. Earlier in his career, he served as vice president and associate general counsel of The Rouse Company for 23 years. He is past president of the American College of Real Estate Lawyers, past chair of the Anglo-American Real Property Institute, and past chair of the International Council of Shopping Centers Law Conference. Mr. Goldberg is currently a Fellow of the American College of Mortgage Attorneys and is a member of the American Law Institute. Mr. Goldberg received his B.A. from Pennsylvania State University and his LL.B. from the University of Maryland School of Law.

Roadmap of Venture Capital and Angel Funding, Part 2 - A National Perspective

Presented by the ISBA

1.0 hour MCLE credit


Original Program Date: July 08, 2022
Accreditation Expiration Date: April 17, 2025 (You must certify completion and save your certificate before this date to get MCLE credit)


Rapidly growing companies often raise capital in “angel” or venture capital transactions. Investors provide capital in exchange for carefully structured equity rights and frequently some form of governance rights. Investors also often provide the company with industry expertise, contacts, and access that may be as valuable as financial capital. These funding transactions can take a startup or more mature company to higher levels of growth. But they are complex transactions that can involve a dozen or more interrelated documents. This program will provide you with a practical guide to the stages and documentation of an angel or venture capital transaction.

Day 2 – July 08, 2022:
  • Review of most highly negotiated terms in funding deals
  • Investor protections – information & veto rights, liquidity event rights
  • Liquidation preferences, anti-dilution rights, and dividends
  • Striking the right balance between founders/managers and investors on the board
  • Options pools for founders, managers and employees

Speakers:

Howard Bobrow is a partner in the Cleveland, Ohio office of Taft Stettinius & Hollister LLP, where he chairs the firm’s venture capital practice. He counsels private equity and venture capital firms, other institutional investors and angel investors on all aspects of acquisitions, dispositions, capital formation and private placements. He regularly represents and advises funds on their organization and formation, the fundraising process, governance matters, investments and compliance with pertinent regulations. Mr. Bobrow earned his B.S. from Miami University and his J.D. from Case Western Reserve University School of Law.

Anthony Licata is a partner in the Chicago office of Taft Stettinius & Hollister LLP, where he formerly chaired the firm’s real estate practice. He has an extensive practice focusing on major commercial real estate transactions, including finance, development, leasing, and land use. He formerly served as an adjunct professor at the Kellogg Graduate School of Management at Northwestern University and at the Illinois Institute of Technology. Mr. Licata received his B.S., summa cum laude, from MacMurray College and his J.D., cum laude, from Harvard Law School.


State and Local Tax Review

Presented by the ISBA State and Local Tax Section


4.0 hours MCLE credit


Original Program Date: January 25, 2023
Accreditation Expiration Date: April 16, 2025 (You must certify completion and save your certificate before this date to get MCLE credit)


Whether it’s the State, Cook County, or the City of Chicago – our elected officials decide how taxes are collected, how they are distributed, how (and who) they help, and how to achieve the equitable burden and distribution while ensuring the maximum collection and compliance. Join us for an in-depth look at how the laws and ordinances in our tax system operate, as well as how they impact you and your clients. Topics include:
  • Valuation issues for condominium/townhouse association assessments, as well as the pitfalls, remedies, and existing laws to be aware of;
  • What to expect from Illinois legislative as we enter the Spring 2023 session;
  • An introduction to the Cook County property tax system; and
  • What has changed (and stayed the same) with property tax incentives.

Program Coordinators/Moderators:
David J. Kupiec, Kupiec Martin LLC, Chicago
Gary H. Smith, Law Offices of Gary H Smith - a division of Kovitz Shifrin & Nesbit, Chicago

Legislative Updates
Keith W. Staats, Illinois Chamber of Commerce, Springfield

Real Estate Tax Overview
Nora A. Devine, The Devine Law Group, LLC, Northfield

Condos/Townhome Associations and Other Common Areas
Daniel J. Heywood, Maher Brannigan & Heywood P.C., Chicago

Income and Sales Tax Update
Moderator: Natalie M. Martin, Kupiec & Martin LLC, Chicago
David P. Dorner, Reed Smith LLP, Chicago
Brian E. Fliflet, Illinois Department of Revenue, Chicago
David J. Kupiec, Kupiec Martin LLC, Chicago

Tax Incentives Today
Joanne Elliott, Elliott & Associates, Des Plaines
Brian P. Liston, Liston & Tsantilis P.C., Chicago


Pricing Information

  • Please Note: You must attend the entire program in order to earn MCLE credit for this seminar.
  • ISBA sponsoring section members get a $10 registration discount (which is automatically calculated in your cart when you log in to register).
  • Fees:
    • ISBA Member Price of $120 is displayed below when you login and program is eligible for Free CLE member benefit
    • Non-Member Price $200
    • New Attorney Member (within the first five years of practice) - $25
    • Law Students - Free

Engagement Letters, Timesheets, and Billing Tips

Presented by the ISBA Standing Committee on Law Office Management and Economics


1.0 hour MCLE credit, including 1.0 hour Professional Responsibility MCLE credit in the following category: Professionalism, Civility, or Legal Ethics credit


Original Program Date: February 7, 2023
Accreditation Expiration Date: ­­­­­­­­­­­­­­­­­­­­­­­­­April 19, 2025 (You must certify completion and save your certificate before this date to get MCLE credit)


Don’t miss this opportunity to hear from Kevin Stine as he teaches you the importance of engagement letters, how to keep track of your time, how to prepare informative bills for clients, and the ethical pitfalls to avoid. Topics include:
  • Why you should use engagement letters – and how to draft them;
  • Understanding how you get paid and your monthly communication with the client;
  • Terms of representation;
  • Knowing who owns files and records;
  • Proofreading your timesheets for accuracy and offering descriptions of tasks performed on the timesheet;
  • The ethical issues to avoid; and
  • Much more!

Program Coordinator/Moderator:
John W. Olmstead, Olmstead & Associates, Legal Management Consultants, St. Louis
About the Speaker:
Kevin Stine was in private practice for almost 30 years before his engagement as General Counsel at First Co Bancorp, Inc., which gives him a valuable perspective on billing from the aspect of the billing attorney and client. Kevin has been a professor at Saint Louis University School of Law, where he taught Secured Transactions and Advanced Secured Transactions, and at McKendree University’s MBA program, where he taught Legal Issues for Managers. He was appointed by Justice Lloyd Karmeier to serve on the Illinois Supreme Court’s special committee formed to study and improve the judicial process in mortgage foreclosures throughout Illinois. Kevin earned his B.S. in Business at Southern Illinois University in 1983 and his J.D. at Washington University in St. Louis in 1986.


Pricing Information

  • Please Note: You must attend the entire program in order to earn MCLE credit for this seminar.
  • ISBA sponsoring section members get a $10 registration discount (which is automatically calculated in your cart when you log in to register).
  • Fees:
    • ISBA Member Price of $30 is displayed below when you login and program is eligible for Free CLE member benefit
    • Non-Member Price $50
    • New Attorney Member (within the first five years of practice) - $25
    • Law Students - Free

State and Local Government Incentives for Rebuilding Mixed-Use Residential/Commercial Projects

Presented by the ISBA Real Estate Law Section
Co-Sponsored by the ISBA Civil Practice and Procedure Section, ISBA Criminal Justice Section, and the ISBA Standing Committee on Racial and Ethnic Minorities and the Law Committee


1.50 hours MCLE credit


Original Program Date: January 12, 2023
Accreditation Expiration Date: ­­­­­­­­­­­­­­­­­­­­­­­­­April 5, 2025 (You must certify completion and save your certificate before this date to get MCLE credit)

Don’t miss this comprehensive look at what the government is doing to rebuild mixed-use real estate projects in our pandemic and post-pandemic world. Real estate attorneys, civil practice lawyers, criminal justice practitioners, and construction law attorneys who attend this online program will better understand:
  • How the pandemic negatively impacted the financial stability of businesses and the abandonment of residential units;
  • The opportunities that exist in our communities for revival and redevelopment;
  • How state and local government entities can encourage revitalization in our struggling communities by offering financial support and other economic incentives;
  • How zoning and land restrictions vs. incentives can play a role in attracting new development and redevelopment activities;
  • The importance of addressing the wide spectrum of incomes within our communities when considering the affordability of new residential units within these varied neighborhoods;
  • How “gentrification” may result in some mixed income and minority communities from development projects that ignore the range of incomes in those areas;
  • How the pandemic and quarantines impacted changes in the economic status of communities – and whether new mixed-use residential/commercial projects can have the effect of gentrifying the community or revitalizing the community;
  • The types of incentives and funding being offered by the state, counties, cities, and villages that may encourage developers to consider new projects in particular communities;
  • How to balance construction projects that would revitalize a community with the uprooting of minorities living and working on those areas where mixed-use projects would be situated; and
  • Much more.

Program Coordinator:
Sharon L. Eiseman, Illinois Attorney General’s Office, Chicago

Program Moderator:
Hon. Marian E. Perkins, Circuit Court of Cook County, Chicago

Program Speakers:
Kymn Harp, Robbins DiMonte Ltd., Chicago
Geoff Smith, DePaul University Institute of Housing Studies, Chicago
Julie A. Tappendorf, Ancel Glink, Chicago

Pricing Information

  • Please Note: You must attend the entire program in order to earn MCLE credit for this seminar. 
  • ISBA sponsoring section members get a $10 registration discount (which is automatically calculated in your cart when you log in to register).
  • Fees:
      • ISBA Member Price of $45 is displayed below when you login and program is eligible for Free CLE member benefit
      • Non-Member Price $75 
      • New Attorney Member (within the first five years of practice) - $25
      • Law Students - Free

Eastern Savings Bank, FSB v. Andrew-Lewis

Eastern Savings Bank, FSB v. Andrew-Lewis
Illinois Appellate Court
Civil Court
Real Estate Settlement Procedures Act
Citation
Case Number: 
2023 IL App (1st) 220413
Decision Date: 
Friday, March 24, 2023
District: 
1st Dist.
Division/County: 
6th Div./Cook Co.
Holding: 
Affirmed.
Justice: 
ODEN JOHNSON

Defendant appealed from a circuit court order confirming the sale of her residence pursuant to a foreclosure. Defendant argued on appeal that the circuit court committed several errors relating to the sale, including that the circuit court erred in confirming the sale of the property despite learning that defendant did not receive a loss mitigation denial letter on her loan modification application as is required by the Real Estate Settlement Procedures Act, that defendant’s loan modification application was not properly processed by the plaintiff, and where the evidence showed that plaintiff neglected numerous attempts by plaintiff to modify her loan and to end her delinquency. The appellate court affirmed, finding that defendant did not timely raise her arguments and that they were not supported by the record. (C.A. WALKER and TAILOR, concurring)

Roadmap of Venture Capital and Angel Funding, Part 1 - A National Perspective

Presented by the ISBA


1.0 hour MCLE credit


Original Program Date: July 07, 2022
Accreditation Expiration Date: ­­­­­­­­­­­­­­­­­­­­­­­­­April 17, 2025 (You must certify completion and save your certificate before this date to get MCLE credit)


Rapidly growing companies often raise capital in “angel” or venture capital transactions. Investors provide capital in exchange for carefully structured equity rights and frequently some form of governance rights. Investors also often provide the company with industry expertise, contacts, and access that may be as valuable as financial capital. These funding transactions can take a startup or more mature company to higher levels of growth. But they are complex transactions that can involve a dozen or more interrelated documents. This program will provide you with a practical guide to the stages and documentation of an angel or venture capital transaction.


Day 1 – July 07, 2022:

  • Current state of angel and venture capital markets & trends in deal terms
  • Review of the suite of documents involved in most funding deals
  • Methods of valuation and their impact on successive stages of investment
  • Reviewing or drafting terms sheets – pitfalls and opportunities
  • Angel investing – equity v. debt, common terms, impact on later venture capital funding


Speaker:

Howard Bobrow is a partner in the Cleveland, Ohio office of Taft Stettinius & Hollister LLP, where he chairs the firm’s venture capital practice. He counsels private equity and venture capital firms, other institutional investors and angel investors on all aspects of acquisitions, dispositions, capital formation and private placements. He regularly represents and advises funds on their organization and formation, the fundraising process, governance matters, investments and compliance with pertinent regulations. Mr. Bobrow earned his B.S. from Miami University and his J.D. from Case Western Reserve University School of Law.

Anthony Licata is a partner in the Chicago office of Taft Stettinius & Hollister LLP, where he formerly chaired the firm’s real estate practice. He has an extensive practice focusing on major commercial real estate transactions, including finance, development, leasing, and land use. He formerly served as an adjunct professor at the Kellogg Graduate School of Management at Northwestern University and at the Illinois Institute of Technology. Mr. Licata received his B.S., summa cum laude, from MacMurray College and his J.D., cum laude, from Harvard Law School.