Michael J. Schaller

Partner Chicago


Michael has a wide-ranging practice that emphasizes securities and corporate law. He primarily focuses in the areas of federal and state regulation of securities, public and private finance, corporation and partnership tax, casino and internet gaming, hotel and resort development, real estate ventures, and health care law. He is a former member of Taft's Executive Committee.

Michael has extensive experience in structuring relationships between cities and casino developers. Michael also counsels clients on casino and internet gaming matters.

Michael is a Certified Public Accountant in the state of Illinois. He has been awarded an AV® Peer Review Rating from Martindale-Hubbell, its highest rating for ethical standards and legal ability. He is also a Leading Lawyer in Illinois, which consists of the top 5% of Illinois lawyers, as selected by his peers.


  • Honoree, Leading Lawyer in Illinois

  • AV Peer Review Rating by Martindale-Hubbell

All Service Areas


  • University of Illinois College of Law (1975)
  • University of Illinois (B.S., Accounting, with highest honors) (1971)


  • State - Illinois

Notable Matters

  • Serves as outside gaming counsel for several cities and counties regarding their casino gaming activities.
  • Represents a start-up internet casino gaming company on its corporate and regulatory matters.
  • Served as corporate counsel for the largest cardiovascular physician practice in the State of Illinois, having worked for more than 10 years with all of the client’s hospital system contracts, joint ventures, employment and shareholder agreements, and day-to-day corporate representation.
  • Acted as lead workout counsel for a group of institutional creditors in connection with a $4 billion liquidation of a national real estate developer/syndicator, involving hundreds of properties located throughout the United States as well as in several foreign countries.
  • Represented one of the former “Big 8” accounting firms in connection with the settlement and renegotiation of its arrangements with its former consulting affiliate, involving over $300 million in consideration.
  • Acted as acquisition counsel on behalf of a group of buyers in connection with their bid to purchase a major Chicago newspaper chain.

Speeches and Publications

  • “Investing in Tribal Gaming,” Gaming Law Review, Vol. 9, No. 1, 2005.