Taft Real Estate Client Matter Profiled in Crain’s Chicago Business

The recent success of Taft Chicago real estate client, ESG Kullen, is showcased in the Dec. 2 article, “Big Gold Coast condos-to-apartments deal closes—finally” published by Crain’s Chicago Business.

The article states, “It took nearly a year and a half, lots of lawyering and a ‘Hail Mary pass,’ but a New York investor [ESG Kullen] has finally pulled off its takeover of a big lakefront condominium tower in the Gold Coast. At $107 million, it’s the most ever paid in a condo deconversion in Chicago—and possibly the country.”

Kathryn Kovitz Arnold, chair of Taft’s Real Estate and Condominium practice groups, provided the “lots of lawyering” component for Taft client, ESG Kullen. She managed the complex deconversion process of 1400 North Lake Shore Drive in Chicago. She also handled the deconversion of 1140 North LaSalle Street in Chicago for ESG Kullen.

The article explains the many hurdles that ESG Kullen had to overcome to finalize the deal. To read the article in its entirety, visit here

Arnold earned her J.D. from Northwestern University School of Law and a B.S. in Business Administration, magna cum laude, from the University of Illinois at Urbana-Champaign. She plays a key role in shaping the landscape of many of Chicago’s most diverse neighborhoods and business communities, through her wide-ranging real estate practice.

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