Commercial Real Estate: Practice Basics

A PSA about the PSA
Get an introduction to commercial real estate purchase and sale agreements. We will discuss some negotiation and drafting topics.
Nat Piggee, Tiger Law, Chicago

Commercial Real Estate and the Illinois Land Trust: Securing the Loan with a Collateral Assignment of Beneficial Interest
Cover the use of the collateral assignment of beneficial interest as a financing tool in commercial real estate transactions where a property is held in an Illinois land trust. In particular, learn considerations in drafting the collateral assignment, mechanics of lodging the collateral assignment with the trustee, the case and statutory law of Illinois with respect to collateral assignments, and foreclosure of the collateral assignment under Article 9 of the Uniform Commercial Code.
David Lanciotti, Chicago Title Land Trust, Chicago

Due Diligence Essentials – What You Need and Where to Get It
Take a practical look at due diligence. Learn how to determine what you need to look for, and where to find it, when representing a client in the purchase or development of commercial real estate.
R. Kymn Harp, Robbins, Salomon & Patt, Ltd., Chicago &

The ABCs of Surveys
Dick Bales will talk about the different types of surveys. He has also developed a fairly sophisticated course on how to review a plat of survey. Bill Anaya will join Dick in a discussion as to why surveys are so important in real estate transactions.
Richard Bales, Proper Title LLC, Naperville &
William J. Anaya, Greensfelder, Hemker & Gale, P.C., Chicago &

Environmental Clauses
This session will provide a short review of proposed environmental clauses in commercial real estate sale and purchase agreements.
William J. Anaya, Greensfelder, Hemker & Gale, P.C., Chicago &

Title Insurance in Commercial Real Estate Transactions
*General Coverage
Explore the 2006 ALTA Owner’s and Lender’s policies, what is covered and what is not (or so we think) and what matters are critical for buyers and lenders to review: vesting, the legal description, the so-called Standard Exceptions (and how to address them), and what to watch for on the Special Exceptions and Requirements in Schedule BI and BII.
James Shaw, Stewart Title, Chicago

*New Construction/Mechanics Liens
Topics discussed will be the effective lack of priority for a construction lender, the Illinois proper payment system and the reduced mechanics lien coverage for construction lenders.
Paul Peterson, formerly of Fidelity National Title Group, Mt. Prospect &

*Endorsements
Learn about the most common commercial endorsements, with a focus on the necessities of each endorsement along with the requirements to issue it. Understand how these endorsements provide coverage for owner’s policies.
Alice Lange, Chicago Title Insurance Company, Chicago

COVID-19: Accelerating the Evolution of the Commercial Real Estate Industry
The COVID-19 pandemic has altered lives and businesses around the globe, including the commercial real estate industry. Join our panel of Illinois real estate thought leaders in a discussion on the transformation of the industry and the effects on the practice.
LaVon M. Johns, Miller Canfield, Chicago &
Upneet S. Teji, Greensfelder, Hemker & Gale, P.C., Chicago
William Sekerka, Royal Abstract, New York, NY
Molly S. Oelerich, Fifth Third Bank, Chicago

& = IICLE® Publications Author