Section Newsletters

Articles From R. Kymn Harp

Historic Preservation Tax Credits for Real Estate Development–Illinois By R. Kymn Harp Real Estate Law, July 2025 Efforts to preserve the historical heritage of the United States have been ongoing for more than 200 years. The National Historic Preservation Act of 1966, which created the National Register of Historic Places (National Register), formalized a national policy of preserving historic properties. This article discusses tax credits that may be utilized in Illinois for historic preservation. 
Real Estate Information Providers – Liability By R. Kymn Harp Real Estate Law, June 2025 The article discusses how real estate professionals may hold third-party information providers liable for negligent misrepresentation if faulty information causes financial loss. Under Illinois law, such claims are limited by the Moorman Doctrine, which bars recovery for purely economic loss—unless the provider is a “pure information provider.” Liability depends on the provider’s role, the nature of their work, and whether they had a duty to provide accurate information.
Air Rights Development By R. Kymn Harp Real Estate Law, May 2025 This article is the second part of a two-part series. The article explores practical applications of air rights in real estate development, focusing on how developers can maximize value from underutilized zoning potential. Using hypothetical scenarios in Chicago, it explains how a property owner can sell unused development rights above a low-rise building to another party for high-rise development, or how adjoining properties can be combined into a single zoning lot to expand buildable floor area under zoning regulations. Key legal and logistical considerations include zoning laws, FAR, easements, and covenants. The article highlights how air rights can be leveraged as a strategic asset to increase returns and optimize land use.
Tax Increment Financing: A Valuable Development Tool – Illinois By R. Kymn Harp Real Estate Law, May 2025 Tax Increment Financing (TIF) is a public funding tool used to revitalize blighted or aging areas by reimbursing developers for certain costs using the increased property tax revenue their projects generate. It helps make otherwise unfeasible projects viable without diverting existing tax funds. TIF districts last up to 23 years (extendable to 35), and funding is only approved if the project wouldn’t happen without it (applying the “but for” test). It’s widely used to promote economic development and eliminate commercial blight.
AIR RIGHTS DEVELOPMENT By R. Kymn Harp Real Estate Law, April 2025 An introduction to air rights. “Air rights" are part of the "bundle of rights" constituting fee simple title to real estate. They comprise an interest in land, although not the surface of the land. The term air rights generally refers to the right of the owner of a parcel of land to use the space above the land. This article is part one of a two-part series.
Mitigation of Damages in Illinois Commercial Lease Disputes By R. Kymn Harp Real Estate Law, April 2023 An Illinois landlord under a commercial lease must take reasonable measures to mitigate damages, but only if mitigation of damages is required.
Mitigation of Damages in Illinois Commercial Lease Disputes By R. Kymn Harp Commercial Banking, Collections, and Bankruptcy, April 2023 An Illinois landlord under a commercial lease must take reasonable measures to mitigate damages, but only if mitigation of damages is required.
Impossible, Impractical, Frustrating, or Simply Unfortunate: Illinois Commercial Leases in the COVID Age By R. Kymn Harp Real Estate Law, April 2022 In March 2022, the 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.
Wake-Up Call to Condominium Boards Regarding Section 15 Sales By R. Kymn Harp Real Estate Law, August 2020 A summary and analysis of Kai v. Board of Directors of Spring Hill Building I Condominium Ass’n.
Abellan v. Lavelo Property Management, LLC: Is Rooney Right or Off His Rocker? By R. Kymn Harp Real Estate Law, June 2020 A response to Michael J. Rooney's article, Swing and a Miss: Seventh Circuit Ends Hitting Streak.
Illinois Condominium Deconversion: An Overview By R. Kymn Harp Real Estate Law, November 2019 An overview of condominium deconversion, a colloquial term referring to the process of removing property from the provisions of the Illinois Condominium Property Act.
10 things every buyer needs to close a commercial real estate loan By R. Kymn Harp Real Estate Law, March 2004 For 25 years, I have represented borrowers and lenders in commercial real estate transactions. During this time it has become apparent that many Buyers do not have a clear understanding of what is required to document a commercial real estate loan.

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