Lawyers

A Premier Real Estate Practice

Shefsky & Froelich Ltd. has a premier real estate practice, handling a diverse range of major transactions, both within the Chicago metropolitan area and nationally. The Real Estate Practice Group annually handles transactions with an aggregate dollar value well in excess of $1 billion. These transactions span the full spectrum of commercial real estate activity, from development to financing to investment transactions.

The foundation of this successful practice is depth; our real estate attorneys range in experience from seasoned senior practitioners to aggressive, young up-and-comers. The group's attorneys have been carefully recruited to create a well-balanced, highly integrated team of experienced individuals. We bring a wide range of real-world practical experience, coupled with an extensive network of real estate and financial industry contacts, to creating successful outcomes for our clients.

Some of the more notable recent transactions in which Shefsky & Froelich played an integral part are listed below.

Major Real Estate Development

• Joint venture equity financing for new residential development adjacent to the Aqua Tower residential and hotel complex, Chicago, IL
• Joint venture convertible debt financing for the New City YMCA redevelopment, Chicago, IL
• Ground lease and TIF financing for the MetraMarket, Chicago, IL
• Build-to-suit, mixed-use office, retail and hotel development for the University of Chicago, Chicago, IL
• Land acquisition, zoning, and financing for high-rise residential development on the Chicago River, including sale upon completion and lease-up, Chicago, IL
• Retail, hotel, and office development in Lombard, IL
• Condominium conversion and mass closing of unit sales of high-rise buildings in Chicago, IL
• Downtown urban redevelopment plan for Richmond, VA
• Redevelopment agreement and TIF financing for former USX site, Chicago, IL
• Leasing and development work for shopping centers in Houston, TX; Cleveland, OH; St. Louis, MO; Palm Beach, FL; White Plains, NY; Mobile, AL; Stuart, FL; Jackson, MS; Topsham, ME; and Morehead City, NC
• Land development and annexation of single-family subdivision in Long Grove, IL
• Hotel and resort developments in three of the Hawaiian Islands, two Caribbean islands, and Key Biscayne, FL
• Redevelopment of Mutual of Omaha office complex, featuring mixed-use development of office, residential, and retail space in Omaha, NE
• Joint-venture development of shopping center in Las Vegas, NV, between retail development client and CALSTERS
• Representation of major national professional association in anchor lease for mixed-use office and hotel complex in Chicago, IL
• Mixed-use industrial and retail development of 105 acres at tollway extension in Lockport, IL
• Residential townhouse development of 54 upper-end units in Lake Forest, IL

National Sales and Acquisitions

• Acquisition of portfolio of 3 suburban residential projects, subject to HUD financing, total portfolio value of $75 million
• Sale of Chicago Westin Hotel to a publicly traded REIT
• Acquisition of 225 West Washington, Chicago, IL; a Class A office building with joint venture agreement
• Acquisition of apartment and retail rental space at Aqua Tower development, Chicago, IL
• Sale of $140 million hotel portfolio by family holding company
• Sale of three separate clients' hotel portfolios consisting in the aggregate of several billion dollars of consideration
• Sale of apartment complex in north Chicago containing 202 units in seven buildings
• Sale of apartment building portfolio in Las Vegas
• Acquisition of 69 Pizza Hut restaurants in Ohio, Indiana, and Kentucky
• Acquisition of Providence, RI airport parking garage operations
• Acquisition, financing, and renovation of hotel in Gold Coast neighborhood of Chicago
• Sale of resort in Vermont
• Sale of shopping center portfolio in Oklahoma, Texas, and Washington
• Acquisition, multiple refinancing, and ultimate sale of the Boca Raton Hotel and Racquet Club
• Sale of Dominick’s-anchored shopping center portfolio in Illinois
• Acquisition and refinancing of office building in Miami, FL
• Acquisition of major food service facilities in Fort Lauderdale and South Miami, FL

Complex Financings

• Tax increment financing for large industrial redevelopment project in the Pullman community of Chicago
• Restructuring of residential apartment portfolio in Las Vegas
• Industrial Revenue Bond financing for food company facility in Chicago
• Financing for three properties of plastics company
• Financing for new water and sewer treatment plant for village in suburban Chicago
• Numerous mortgage loan financings, including securitized transactions
• Representation of Illinois Finance Authority in transactions totaling $3 billion a year

Land Use and Zoning

• Planned development application to create a master development plan for North Park University
• Coordinated zoning and licensing matters for Costco Wholesale, Peninsula Hotel, Cheesecake Factory, Circuit City Stores, Woolworth Stores, and many others
• Obtained zoning approvals for numerous Commonwealth Edison substation sites in Chicago

Cultural Institutions

• Representation of Chicago Park District for development of new Chicago Children’s Museum
• Sale and leaseback of Museum of Contemporary Art Chicago
• Ground lease, construction, and financing of Harris Theater for Music and Dance in Millennium Park, Chicago
• Ground lease, construction, and bond financing of the Kohl Children’s Museum, Glenview, IL
• All land use, zoning, landmark, and tax increment financing issues for the Spertus Institute
• Coordinated federal, state, and local grants for development of an underground parking garage, including program management and construction contracts, for Museum of Science and Industry