Commercial Real Estate
Hurley Stanners, LLC works with real estate developers of shopping centers, apartment complexes, commercial property and residential real estate projects as well as individuals owning commercial property. Representation includes land acquisition, zoning issues, bank financing, real estate sale agreements, construction contracts and disputes, representation in the drafting and negotiation of land leases and commercial leases, easement agreements, condominium documents, including the Property Report and Declaration in compliance with state and City laws and the representation of a condominium developer in the sale of individual units.
- Recently we worked with a developer client who had 15 loans with a large bank in 2007. In 2008, the bank sold the loans to an out of state investor for 40 – 50% off the face amounts. The client and investor then spent one year negotiating a refinance based on present market values and then another 10 months negotiating a loan modification agreement. We are now in the process of refinancing and selling off properties to avoid liability for the guarantors.
- Another client, who owned large apartment complexes in the south, was forced to sell as a part of liquidating his real estate portfolio as rents decreased and expenses increased.
- We also worked with another client, which was in the process of developing condominiums on the south side of Chicago in 2008. The developer found that units, which should have taken months to sell, were sold off over a 3 -4 year period with numerous challenges.
- Another client decided to leave corporate America and designed a restaurant business. We represented him with regard to his commercial lease, construction contracts, incorporation and with construction disputes when they arose.