Kathryn Kovitz Arnold

Practice Group Chair / Partner Chicago

Summary

Kathryn is the Real Estate practice group chair and a member of the firm’s Executive Committee. The Real Estate practice group encompasses more than 90 attorneys across all of Taft’s offices and was named the “Best of the Best” by Midwest Real Estate News Magazine three years in a row. The Real Estate practice group is 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, including development, conversion, de-conversion, and working with homeowner’s associations.

For over 30 years, Kathryn, through her wide-ranging real estate practice, has played a key role in shaping the landscape of many of Chicago’s most diverse neighborhoods and business communities. She focuses in the areas of real estate development, commercial and residential condominium development and conversion, leasing, mixed-use projects and high-rise development, restaurants, 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 for the buyer on some of Chicago areas largest condominium de-conversions including:

  • 1400 N. Lake Shore Drive.
  • 2 East Oak.
  • Kennelly Square.
  • Bel Harbour condominium.
  • Clark Place Condominium.
  • 10 E. Ontario.
  • Woods at Countryside.

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 many out-of-state attorneys with respect to Illinois law matters.

Speeches, Publications and Honors

Kathryn is a regular invited presenter at seminars to address industry professionals on topics relating to real estate and condominium development and de-conversion. Kathryn has also drafted and consulted on new legislation and local ordinances regarding condominium law and administration. She 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 has been a guest lecturer at Kellogg School of Management and Illinois Institute of Technology.

Kathryn was 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” and is honored by Chambers USA for Real Estate Law. RE Journals named her 2021 “Real Estate Lawyer of the Year.” In July 2021 she was honored as a “Top 50 Women in Law” at the second annual Salute! Women in Law Awards, published by the Chicago Daily Law Bulletin and Chicago Lawyer.

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.

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.

Speeches and Publications

Moderator, Fourth Annual Deconstructing Deconversion Summit, hosted by Illinois Real Estate Journal, Oct. 13, 2021.

Speaker, Second Annual Chicago Women in Commercial Real Estate Summit, hosted by the Illinois Real Estate Journal, Jan. 21, 2021.

Moderator, CRE Forecast and Beyond... 19th Annual Chicago CRE Forecast Conference, hosted by the Illinois Real Estate Journal, Jan. 7, 2021.

Moderator, Third Annual Deconstructing Deconversion Virtual Summit hosted by Illinois Real Estate Journal, Sept. 15, 2020.

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.

  • Also selected to be published by the LexisNexis Lexis Practice Advisor® Coronavirus Resource Kit.

“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

Community Involvement

  • Harris Theater for Music and Dance in Chicago

    Board of Trustees

  • Artists for Israel

    Board of Directors