Chicago Northwest Side Preservation OrdinanceBy Bob Floss, IIReal Estate Law, May 2025[For attorneys practicing outside of Chicago, please do not disregard this article.] Bob Floss reviews an extremely controversial ordinance now in effect in one ward of Chicago. Floss discusses why this topic is important to all attorneys in Illinois. The concept of government awarding tenants a right of first refusal is not new. The first Tenant Opportunity to Purchase Act (TOPA) was introduced in Washington D.C. in 1980. The law gained some traction in the East Coast, expanding to Takoma Park, Maryland, in 1987, but remained isolated to those areas. Recent sentiment for housing as a human right has renewed interest in the law and sudden expansion.
Here Comes the FloodBy Bob Floss, IIReal Estate Law, May 2025It has been 56 years since George Harrison first wrote “Here Comes The Sun.” Had he been a real estate attorney, the verse would read, “Here Comes the Flood.” It is an unfortunate reality that every real estate attorney must face at some point in their career: a client who recently purchased or sold a home, and there is water in the basement. Two appellate court cases have offered some clarity for practitioners counseling their clients on the possibility of litigation.
Tax Increment Financing: A Valuable Development Tool – IllinoisBy R. Kymn HarpReal Estate Law, May 2025Tax 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.
Tower of Babel: Trump Tariff Impact on the Illinois Real Estate AttorneyBy Donald Hyun Kiolbassa & Emily HolmesReal Estate Law, May 2025The 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 LawBy Donald Hyun Kiolbassa & Emily HolmesReal Estate Law, March 2025A 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.
Case SummariesBy Joseph W. RogulReal Estate Law, February 2025Two 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. RodriguezBy Greg C. AndersonReal Estate Law, February 2025Wells 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.
Killing the Golden Goose: Chicago’s Northwest Side Preservation OrdinanceBy Donald Hyun Kiolbassa & Emily HolmesReal Estate Law, February 2025The 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.
Did You Know?Real Estate Law, January 2025Some of Illinois land is described as West of the 2nd principal meridian and some as East of the 4th principal meridian.
Little Red Riding Hood: Private Equity Owning Law FirmsBy Donald Hyun Kiolbassa & Emily HolmesReal Estate Law, January 2025Loosely 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.
The Logistics of Handling Powers of Attorney Under the Recent Amendments to the Act – Reasonable and Unreasonable Cause to RefuseBy Michael J. FleckReal Estate Law, January 2025Senate 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 ContractBy Philip J. VaccoReal Estate Law, January 2025While 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.
Some IRS Changes for 2025!Real Estate Law, January 2025A brief list of new IRS changes of interest to ADR practitioners.
Burrink Commercial Services v. New Life Covenant ChurchBy Samuel H. LevineReal Estate Law, December 2024In Burrink Commercial Services v. New Life Covenant Church, the appellate court dismissed a complaint to foreclose a mechanics lien as factually insufficient because the complaint improperly characterized two contracts as one.
Case Summary of Tyler v. Hennepin County, Minn.By Erica Crohn MinchellaReal Estate Law, December 2024In Tyler v. Hennepin County, Minn., the U.S. Supreme Court unanimously held that a county collecting directly from the surplus upon the foreclosure sale of property for delinquent taxes was an unallowed taking under the Fifth Amendment.
False Bravado: How Estate Planning and Corporate Entities Can Be Undone by Municipal ViolationsBy Bob Floss, IIReal Estate Law, December 2024The articles examine the existence of a trust as a relationship or an entity, which will greatly affect the outcome of the trust. In the section titled “Proper Litigants,” we are given hypotheticals when a trust can sue or be sued as an entity or when the trustee of the trust would stand in place of the trust as the proper party.
QueryReal Estate Law, December 2024Are there other such benefits to owning real property through a non-Illinois-established LLC or entity as opposed to using an Illinois-established LLC or entity?
Can a Trustee Execute a Warranty Deed?By Richard F. BalesReal Estate Law, November 2024A trustee of an institutional land trust will never execute a warranty deed. A trustee of a personal trust can execute a warranty deed, but the benefits of such a deed seem to be questionable.
Genie in the Bottle: Rule 137 SanctionsBy Donald Hyun Kiolbassa & Emily HolmesReal Estate Law, November 2024In 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.
Legislative UpdateBy Paul PetersonReal Estate Law, November 2024A summary of legislative updates relevant to real estate law practitioners.
Review of Agency (And No Agency) Under the Illinois Real Estate License ActBy Victoria MunsonReal Estate Law, November 2024In Illinois, real estate licensees operate under the presumption of designated agency. As stated in the Illinois Real Estate License Act, at 225 ILCS 454, a licensee is presumed to be the agent of the client with whom they are working.
ALERT!!Real Estate Law, October 2024Illinois has developed a rental assistance program for fiscal year 2025.
The Boy Who Cried Wolf: A Look Into Preliminary Injunction Law in IllinoisBy Donald Hyun Kiolbassa & Emily HolmesReal Estate Law, October 2024The 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.
Case Summary: Werner v. Auto-Owners Insurance CompanyBy James CreppelReal Estate Law, October 2024In Werner v. Auto-Owners Insurance Company, the Seventh Circuit U.S. Court of Appeals affirmed the district court’s finding that a homeowner’s insurable interest, after a judicial sale but before confirmation of the sale, is limited to the value of the homeowner's temporary right of possession.
Prometheus and the Gift of Fire: In re SyedBy Donald Hyun Kiolbassa & Emily HolmesReal Estate Law, October 2024The 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.
Liens, Tenancies, and DeathBy Richard F. BalesTrusts and Estates, March 2021The interaction between liens, tenancy, and death has different effects on real estate, depending on the type of lien, tenancy, and ownership.
Liens, tenancies, and deathBy Richard F. BalesReal Estate Law, September 2018The interaction between liens, tenancy, and death has different effects on real estate, depending on the type of lien, tenancy, and ownership.
The resulting loss exception to the Defective Workmanship Exclusion: Are you covered?By Adam B. WhitemanConstruction Law, September 2015The First District recently issued an opinion that may help insureds determine whether they will be able to get insurance coverage for damage resulting from a cause which itself is excluded from coverage.
