The disruption caused by COVID-19 greatly accelerated change in the commercial real estate industry and transformed how developers, businesses, individuals, and investors operate, finance, and utilize real estate. The way that offices, hotels, retail malls, restaurants, higher education institutions, and office workspace is occupied is rapidly transforming to align with evolving conditions, forcing industry professionals to pivot and create solutions to address unprecedented market issues. Additionally, a surge in e-commerce is fueling demand for warehouse space to address supply chain issues, thus changing the way industrial space is acquired.
Enlightened legal counsel is a critical component of commercial real estate transactions. Taft’s 90 real estate attorneys deliver timely, thoughtful counsel to navigate the complexities brought upon by the fluidity of current conditions. We leverage our size, skills, and depth of industry knowledge to help our clients mitigate risk and avoid obstacles. We deliver results to our clients in a timely, cost-effective manner and help them negotiate the right terms in an uncertain environment. We also actively assist investors who are driving capital throughout the industry.
Our clients represent a wide variety of national and regional developers, manufacturers, and industrial companies, banks, insurance companies, pension funds, institutional and private investors, and construction contractors. We also regularly collaborate with special servicers to maximize the timely recovery of principal and interest, or to assist with actions related to credit issues.
Our real estate attorneys deliver the full range of services related to the acquisition, leasing, management, use, and taxation of land and property. We bring a wide range of real-world practical experience coupled with an extensive network of real estate and financial industry contacts to create successful outcomes for our clients. While much of the Real Estate team’s work involves properties for clients across Ohio, Illinois, Indiana, Kentucky, and Minnesota, we also assist clients in transactions throughout the United States. Our services include:
- Acquisition and development of real estate for manufacturing, industrial, warehouse, commercial, retail, residential, hospitality, and other uses.
- Tax counsel regarding the structure of ownership entities and transactions.
- Financing of real estate assets, including mortgage loans, sale/leasebacks, participating mortgages, leasehold financing, as well as construction and permanent financing for a wide variety of lenders and borrowers.
- Leases for industrial, manufacturing, warehouse, commercial, retail, and office uses.
- Public and private construction contracts, construction management agreements, design/build agreements, and architect and engineer contracts for owners, construction companies, and design professionals.
- Sales, exchanges, and other dispositions of real estate assets.
- Real estate tax disputes and appeals.
- Implementing projects involving New Markets Tax Credits (NMTC), Historic Tax Credits, Tax Increment Financing (TIF), and Opportunity Zone Financing.
- Litigation, arbitration, and mediation regarding purchase contracts, leases, mortgages, mechanics' liens, construction contracts, and other disputes and claims relating to real estate.
- Annexation, eminent domain, and land use issues, including obtaining re-zonings, variances, and conditional use permits.
- Legal services regarding Community Development Entities (CDEs).
Awards, Recognitions, and Authorship
Our Real Estate group receives many distinguished awards, including these:
- “Leading Law Firm” by Chambers USA® for Real Estate Law in Illinois, Indiana, Minnesota, and Ohio (2021).
- Ranked #1 Top Law Firm by Midwest Real Estate News in its “Best of the Best” issue (2019 & 2020).
- Ranked National Tier 1 by U.S. News – Best Lawyers® “Best Law Firms” for Real Estate Law (2020-2021).
- Ranked National Tier 1 by U.S. News – Best Lawyers® “Best Law Firms” for Real Estate: Land Use & Zoning Law (2021).
Our attorneys also author many law bulletins on topics related to commercial real estate, construction, and the food and beverage industry.
Ranked National Tier 1 by U.S. News – Best Lawyers® “Best Law Firms” for Real Estate Law (2020-2021)
“Leading Law Firm” by Chambers USA® for Real Estate Law in Illinois, Indiana, Minnesota, and Ohio (2021)
Ranked National Tier 1 by U.S. News – Best Lawyers® “Best Law Firms” for Real Estate: Land Use & Zoning Law (2021)
Ranked #1 Top Law Firm by Midwest Real Estate News in its “Best of the Best” (2019 & 2020)
- Represented the purchaser in Chicago’s biggest suburban office deal of 2017.
- Represented the purchaser in one of Chicago’s biggest suburban office deals of 2016.
- Represented an industrial manufacturer in the acquisition, financing and disposition of numerous facilities.
- Represented the purchaser in a multi-tenant industrial warehouse building in Illinois.
- Obtained public way approvals for a flagship retailer and oversaw the construction of its innovative, state-of-the-art addition to an existing office building, which included zoning, utility and public right-of-way elements.
- Obtained zoning approval and entitlements for a mixed-use student housing and retail project serving a higher education institution.