Section Newsletters

Articles From Donald Hyun Kiolbassa, JD,CPA

Tower of Babel: Trump Tariff Impact on the Illinois Real Estate Attorney By Donald Hyun Kiolbassa & Emily Holmes Real Estate Law, May 2025 The article argues that globalization is collapsing, largely due to rising tariffs and nationalist policies, especially in the U.S. This shift will have significant economic impacts, including a potential resurgence of domestic manufacturing in the Midwest. For Illinois real estate attorneys, this presents a major opportunity, particularly with the growth of data centers and energy infrastructure needed to support the rise of Agentic AI—a new phase of artificial intelligence that operates with minimal human input. The authors urge real estate professionals to focus on emerging markets outside of Chicago, as smaller towns may benefit most from these developments.
The Sword of Damocles and Artificial Intelligence in Law By Donald Hyun Kiolbassa & Emily Holmes Real Estate Law, March 2025 A discussion of the Sword of Damocles story to draw a lesson—artificial intelligence should be used only as an augmentation of the attorney. The attorney needs to have a metaphorical sword over their head.
Killing the Golden Goose: Chicago’s Northwest Side Preservation Ordinance By Donald Hyun Kiolbassa & Emily Holmes Real Estate Law, 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.
Little Red Riding Hood: Private Equity Owning Law Firms By Donald Hyun Kiolbassa & Emily Holmes Real Estate Law, 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)
Genie in the Bottle: Rule 137 Sanctions By Donald Hyun Kiolbassa & Emily Holmes Real Estate Law, November 2024 In the case of Palmquist v. Livingston, the appellate court helps us understand the ways Illinois Supreme Court Rule 137 (eff. Jan. 1, 2018) can get you in trouble.
The Boy Who Cried Wolf: A Look Into Preliminary Injunction Law in Illinois By Donald Hyun Kiolbassa & Emily Holmes Real Estate Law, October 2024 The preliminary injunction is an important arrow in the quiver of the powers of the judiciary. A preliminary injunction gives the judge the power to stop a party from an action while the parties are waiting on a final judgment.
Prometheus and the Gift of Fire: In re Syed By Donald Hyun Kiolbassa & Emily Holmes Real Estate Law, October 2024 The court in In re Syed was faced with the challenge of choosing between two good choices. The court should either respect a judgment of eviction or uphold Chapter 13 bankruptcy rules. 
Choose Your Coffin: The Silver Tsunami About to Hit Law By Donald Hyun Kiolbassa & Emily Holmes Real Estate Law, July 2024 How law firms can prepare to handle any skills gaps caused by the influx of retiring Baby Boomers.
Redlining, AI, and Economics: A Look Into the Illinois Community Reinvestment Act By Donald Hyun Kiolbassa & Emily Holmes Real Estate Law, June 2024 The Illinois Community Reinvestment Act attempts to solve the problem of providing available financing for owning appreciable property to historically discriminated groups.
The Odyssey by Homer and the Rescission of Contract: An Analysis of Zahdan v. Frontline Business Enterprise, Inc. By Donald Hyun Kiolbassa & Emily Holmes Real Estate Law, May 2024 In Zahdan v. Frontline Business Enterprise, Inc., the parties entered into a real estate contract for a gas station conditioned upon a second contract, which the defendant did not honor.
Attack on Olympus: The Rise of FIRPTA By Donald Hyun Kiolbassa & Neil Noden Real Estate Law, September 2022 An overview of the Foreign Investment In Real Property Tax Act of 1980.
Opening a Pandora’s Box for Illinois Land Trust Practice (Corcoran v. Rotheimer) By Donald Hyun Kiolbassa Real Estate Law, July 2022 The decision made by the appellate court in Corcoran v. Rotheimer may present unforeseen problems for Illinois real estate attorneys.
Are Rumors of the Imminent Death of the Section 1031 Exchange Fact or Myth? By Donald Hyun Kiolbassa, JD,CPA Real Estate Law, September 2021 The 1031 exchange is a tax benefit that has been around for decades. While many administrations have attempted to topple this tax provision, they have failed.

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