Real Estate
Contact:
- Stephen A. Rehfeldt
- 630.384.3132
- Andrew R. Poyton
- 630.384.3128
- John M. Mulherin
- 630.384.3133
MRV’s real estate attorneys have many decades of experience in representing both corporate and individual sellers and buyers of commercial and residential real estate. In addition, MRV’s real estate attorneys regularly handle commercial and residential leasing arrangements. MRV’s real estate clients range from young individuals and couples buying their first home, to corporate builders and developers constructing residential subdivisions and commercial developments, to large corporations buying, selling or leasing commercial real estate. MRV’s real estate practice also involves assistance to individuals relative to acquisition of real estate located outside of the United States and a long-term relationship with the largest provider of affordable housing in DuPage County, Illinois.
MRV is involved in all phases of a client’s real estate sale or purchase, starting with the negotiation and drafting of the contract, all the way up to and through representation of the client at the closing. When representing a seller, MRV will often order any title insurance or survey required by the contract, make sure that any defects in title are cleared, and prepare the deed, closing statement, and other documents required to be produced by the seller at the closing. When representing a buyer, MRV will often maintain contact with the buyer’s lender to make sure that the buyer’s mortgage application is approved within the time limits provided by the contract and will review on the buyer’s behalf:
- Mortgage loan documents prepared by the buyer’s lender.
- Deed, closing statement, and other closing documents prepared by the seller.
- Any property inspection or environmental reports applicable to the transaction.
- Any title insurance policy issued in connection with the transaction.
MRV represents both commercial and residential landlords and tenants in the negotiation and drafting of leases. In addition, MRV represents those individuals and corporations who wish to erect new residential or commercial condominium buildings, or who wish to convert existing buildings into residential or commercial condominiums.
Representative Transactions
Represented numerous individuals in connection with the sale and purchase of their personal residences, with transactions ranging in value from less than $100,000 to in excess of $5 million.
Assisted not-for-profit corporate buyer relative to real estate purchase involving layered financing (financing from multiple sources), including governmental grants and loans and private banking loans.
Assisted individual and corporate clients with contract negotiation, drafting and implementation for purchases and sales of commercial real estate of all types (i.e. retail, light industrial, office buildings, warehouse and manufacturing) for business ranging from sole proprietorships to multi-national corporations.
Assisted a corporate client in the re-finance of a $10 million mortgage debt into lower interest bond financing.
Established new condominiums and implemented condominium conversions, with respect to residential, commercial and light industrial properties on behalf of both corporate and individual clients.
Represented custom homebuilders in the acquisition, development and sale of residential property.
Developed and implemented various market and subsidized leasing programs and a shared equity home ownership program for the largest provider of affordable housing in Du Page County, Illinois.
Assisted U.S. resident relative to acquisition and development of commercial real estate located in the Republic of Panama.