Kathryn Kovitz Arnold

Practice Group Chair / Partner Chicago

Summary

Kathryn is the Real Estate Practice Group Chair and a member of the executive committee. The Real Estate Practice encompasses more than 90 attorneys across all of Taft’s offices and was twice named the “Best of the Best” by Midwest Real Estate News Magazine and is also ranked National Tier 1 in Real Estate Law by U.S. News/Best Lawyers.

Kathryn also heads the firm’s Condominium practice group which handles all aspects of condominium law, from development to working with homeowner’s associations and de-conversions.

For 30 years, Kathryn has played 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. She focuses in the areas of real estate development, commercial and residential condominium development and conversion, leasing, mixed-use projects, restaurants, mixed-use high-rise development, vertical subdivisions and separations, and commercial financing (lender and borrower representation). In the red-hot Chicago rental market, a focus of Kathryn’s practice has been condominium de-conversions. She served as lead counsel on several large condominium de-conversion projects including:

  • Bel Harbour condominium, a 30-story, 207 residential units and 120 parking unit high-rise overlooking Belmont Harbor condominium in the Lakeview neighborhood.
  • Clark Place condominium tower at 2625 N. Clark in Lincoln Park.
  • Country Faire condominiums in Grayslake, IL.

Her experience in real estate matters also includes the negotiation of lease agreements, the acquisition and disposition of commercial properties, and negotiation of financing documentation for financial institutions and businesses, including representation of securitized lenders. She also serves as local counsel for out-of-state attorneys with respect to Illinois law matters.

Speeches, Publications and Honors
Kathryn is a regular invited presenter at seminars, addressing industry professionals on topics relating to real estate and condominium development and conversion. Kathryn has also drafted and consulted on new legislation and local ordinances regarding condominium law and administration. Kathryn is active with the Chicago Bar Association and served as Chair of its Condominium Subcommittee from 2002 through 2008. She speaks for the National Business Institute at Condominium Law seminars. Additionally, she is a guest lecturer at Kellogg School of Management and Illinois Institute of Technology. Kathryn has been inducted to the Midwest Real Estate News Commercial Real Estate Hall of Fame in 2017 and 2018. She also was selected as the Chicago winner of Connect Media’s "Women in Real Estate 2018."

Representative Condominium Projects and Mixed-Use Developments

  • The New York Private Residences
  • River City Private Residences and River City Marina
  • The West Loop Lofts (10 property loftominium conversion)
  • The Elm at Clark Private Residences
  • Four Lakes Condominium Homes in Lisle, Illinois (multi-phase conversion)
  • Superior West Private Residences
  • 2000 North Lincoln Park West Private Residences
  • Park Bloomingdale Condominium
  • The Superior at LaSalle Private Residences
  • 2625 North Clark Private Residences
  • Ravenswood Town Center
  • Reciprocal easement agreement for The John Hancock Building
  • Midtown Crossing Condominiums
  • Harper Court in Hyde Park
  • 312 West Huron Condominium

Awards

All Service Areas

Education

  • Northwestern University School of Law (1990)
  • University of Illinois-Urbana Champaign (1987)

    B.S. in Business Administration, magna cum laude

Admissions

  • State - Illinois

Notable Matters

Gaming Industry Real Estate Work

  • Land acquisitions and ground lease for Harrah’s Casino in New Orleans.
  • Land acquisitions and real estate work for Black Hawk Casinos in Colorado.
  • Real estate issues for the City of Detroit Casinos.
  • Real estate work and land acquisitions for Revel Casino in Atlantic City.
  • Real estate work for Majestic Star Casino.
  • Real estate work for Indiana river boats.
  • Real estate work for Gaming and Entertainment Management (GEM).
  • Real estate work for Great River Entertainment.

Condominium Projects and Mixed Use Developments

  • The New York Private Residences
  • River City Private Residences and River City Marina
  • The West Loop Lofts (10 property loftominium conversion)
  • The Elm at Clark Private Residences
  • Four Lakes Condominium Homes in Lisle, Illinois (multi-phase conversion)
  • Superior West Private Residences
  • 2000 North Lincoln Park West Private Residences
  • Park Bloomingdale Condominium
  • The Superior at LaSalle Private Residences
  • 2625 North Clark Private Residences
  • Ravenswood Town Center
  • Superior 110 Condominiums
  • James Place Private Residences
  • Reciprocal easement agreement for The John Hancock building
  • Midtown Crossing Condominiums
  • Harper Court in Hyde Park

Speeches and Publications

Moderator, 18th Annual Commercial Real Estate Forecast Conference hosted by Illinois Real Estate Journal, Jan. 9, 2020

Moderator, “Deconstruction Deconversion Summit” hosted by the Illinois Real Estate Journal, May 29, 2019

Member, Preliminary Investment Committee, Kellogg Real Estate Venture Competition, April 18, 2018

Publications

Steps That Property Owners Should Consider Taking During the COVID-19 Pandemic to Protect Their Real Estate Assets,” May 13, 2020

“Real Estate Transactions During COVID-19: Issues to Address,” May 7, 2020

Professional Affiliations

  • American Bar Association

    Member

  • Chicago Bar Association

    Member

  • Illinois State Bar Association

    Member

  • CREW Chicago

    Member