Illinois (29)

Condominiums: Deconversion (IL)

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. Attached is my new Practice Note published by Practical Law Real Estate discussing Condominium Deconversion under the Illinois Condominium Property Act (the “Act”). I […]

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Contesting Section 15 Sales – The Table is Set to Hold Board Members Liable

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. As an active participant in the Chicago area condominium deconversion world, I hear a lot of nonsense from Board Members and their attorneys. To […]

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DASS v YALE Overruled – Manager and Member Immunity No Longer the Law

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. For all attorneys and others planning for or litigating liability issues in relation to Illinois limited liability companies BEWARE that important substantive amendments to […]

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Past-Due Rent Owed to Prior Landlord Not Recoverable by New Owner

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. In 1002 E. 87th Street LLC v. Midway Broadcasting Corp., 2018 IL App (1st) 171691, the plaintiff (“87th Street”) filed suit to evict the […]

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Illinois Condo Deconversion – Challenging Unauthorized Board Action – A White Paper Supplement

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. By: R. Kymn Harp “The board of managers shall exercise for the association all powers, duties and authority vested in the association by law […]

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OPPORTUNITY ZONE INVESTMENT – 2019 – In a Nutshell

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. Opportunity Zones are among the hottest of Hot Topics in real estate investment today.  With the December 22, 2017 enactment of the Tax Cuts […]

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AIR RIGHTS DEVELOPMENT – Chicago, Illinois

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. WHY DEVELOP AIR RIGHTS? Prime commercial land is limited. Prices per square foot can be astronomical. Demand for efficiency to maximize return on investment […]

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A PASSION FOR (REAL ESTATE) BUSINESS

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. Lawyers are like most other business professionals. We want your business and we want your referrals – we just don’t always know the best […]

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Before Closing: Consider a Sec. 1031 Tax Deferred Exchange

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. If commercial real estate is being sold and the seller is planning to buy again, the seller should seriously consider a tax-deferred exchange. So […]

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Illinois Condominium Deconversion – a White Paper

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. ILLINOIS CONDOMINIUM DECONVERSION Getting It Right An Overview By: R. Kymn Harp WHAT IS A CONDOMINIUM DECONVERSION? The term “Condominium Deconversion” is not a legal […]

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Your Real Estate Contract – Two Points to Consider

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. Two Things You Need to Know R. Kymn HarpRobbins, Salomon & Patt, Ltd. As my readers know, I often represent real estate investors. When […]

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EXERCISING REAL ESTATE OPTIONS

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. WHEN EXERCISING REAL ESTATE OPTIONS – Strict Compliance is Your Only Option Options affecting real estate are commonly found in two circumstances: options to […]

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JOIN US at #CRETrends2019

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. Tuesday, September 10, 2019One North Wacker Conference Center – Chicago (UBS Tower)and Live Webcast About this Program The post JOIN US at #CRETrends2019 appeared […]

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SECTION 15 SALE – BREACH OF FIDUCIARY DUTY BY CONDO BOARD?

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. SECTION 15 SALE – BREACH OF FIDUCIARY DUTY BY CONDO BOARD? Here’s the Problem with that Theory . . . A sale of property […]

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A Broker Defends His State: Why Do Business in Illinois?

I am compelled to answer this question of why do business in Illinois on a multitude of fronts. First of all, I have lived in the State of Illinois my entire life, went to college, work and now raising my three children here. If anyone has been keeping even just a little bit of an […]

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Outside Investors and the Real Estate PPM – A Critical Step

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. It is not uncommon for commercial real estate investors to pool their funds for real estate investments. To obtain project financing, equity requirements remain […]

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I HAVE A NEW PLAN FOR 2017 – I HOPE YOU’LL JOIN ME

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. Greetings! I have a new plan for 2017. I hope you’ll join me. One of the great challenges of updating a blog focused on […]

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NEW BOOK – Illinois Commercial Real Estate

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. I’m happy to announce that the website for my new book, Illinois Commercial Real Estate is now live.  Visit www.Illinois-CRE.com for a book excerpt. […]

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NEW BOOK – Illinois Commercial Real Estate – Due Diligence to Closing

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. I’m happy to announce that the website for my new book, Illinois Commercial Real Estate is now live.  Visit www.Illinois-CRE.com for a book excerpt. […]

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New book: Illinois Commercial Real Estate.

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. I am pleased to announce that my new book, ILLINOIS COMMERCIAL REAL ESTATE – Due Diligence to Closing, with Checklists has just been published.  […]

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[EVENT] 2nd Annual Student Housing Event

2nd Annual Student Housing Event Date: June 22, 2016 Time: 7:30am – 10:45am Location: Gleacher Center University of Chicago 450 N. Cityfront Plaza Dr. Chicago, IL 60611 USA Great line up of speakers!!  

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Illinois Condominium Deconversion

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. Condominium deconversion is growing in popularity to enhance the value of busted condominium projects. It is not unusual for condominium projects that entered the […]

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NEW: ALTA Land Title Survey Standards

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. UPDATE:  Effective February 23, 2016, new minimum standard detail requirements for ALTA Land Title Surveys will go into effect, replacing the currently existing 2011 […]

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COMMERCIAL LANDLORD-TENANT: Duty to Repair – Illinois Law

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. When something breaks in a commercial space, who is obligated to make the repair? R. Kymn HarpRobbins, Salomon & Patt, Ltd. Catherine CookeRobbins, Salomon […]

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Keys to Closing A Commercial Real Estate Transaction

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. Anyone who thinks closing a commercial real estate transaction is a clean, easy, stress-free undertaking has never closed a commercial real estate transaction. Expect […]

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Illinois Commercial Condominiums – The Inactive Association Challenge

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. Inactive Association RESALE DISCLOSURE CHALLENGES – When the Commercial Condominium Association is “Inactive” Section 18.3 of the Illinois Condominium Property Act provides that a […]

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“SMALL DEAL” DUE DILIGENCE

This post originally appeared on tBL Marketplace Partner R. Kymn Harp's blog - HARP - on this and is republished with permission. Find out how to syndicate your content with theBrokerList. A misconception abounds in commercial real estate. I am partly to blame. I didn’t mean to add to this false belief, but I recognize […]

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