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COMMERCIAL
We have experience handling sales and purchases of commercial real estate and/or sale of assets throughout the Chicagoland area. Our commercial real estate services include:
Contracts - Preparation and negotiation of key contract provisions in commercial real estate sales contracts and/or sale of asset transactions.
Confidentiality and Non-Compete Agreements - Preparation and negotiation of confidentiality and non-compete agreements which are often essential for a smooth transition of an existing business to a new owner.
Deadlines - Monitor all deadlines for attorney review, inspections, appraisals, financing, other contingencies, as well as handle all requests and approvals for extension of deadline after consultation with the client.
Title Commitment - Obtain and review the title commitment for any real property included in the transaction and resolve any defects so that clear title is provided to the purchaser at closing (where applicable).
Sale of Assets - Obtain and review Uniform Commercial Code (UCC) searches, Bulk Sales Stop Order Notices and other required documents to ensure transfer of clear title to the purchaser for commercial assets.
Closing Documents - Preparation of all required closing documents depending on whether the client is the commercial buyer or seller, which includes:
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• Affidavit of Title
• ALTA Statement
• Bill of Sale
• Closing Statement
• Deed
• Tenant Rent Roll
• Letters of Direction
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• Pre-Possession Agreement
• Post-Possession Agreement
• Tax Pro-ration Agreements
• Real Estate Transfer Forms
• Power of Attorney
• Assignment of Leases
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Third Party Documentation - Obtain all required closing documentation from third-parties, including:
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• Pay-Off Letters
• Surveys
• Paid Assessment Letters
• Building Registration Certificates
• 1031 Tax Exchange Documentation
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• Releases
• Certificates of Insurance
• Transfer Stamps
• Zoning Certificates
• Articles of Corporate Organization
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Closing - Represent clients at closing, provide explanation of loan documents to purchasers (where applicable) and review all documents signed at closing to ensure proper and efficient transfer of title.
Please feel free to call or e-mail us if we can be of assistance.
CHICAGO
(773) 625-2200
(773) 625-2220 FAX
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SUBURBS
(847) 426-2900
(847) 426-2907 FAX
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