Law Seminars International Presents: An Important One-Day Workshop on

Condominium & Mixed-Use Development
Comprehensive practical, legal and economic updates for developing and financing

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(For this past program, we offer two options for purchase: a Homestudy (DVD and written materials) or written materials alone.)

April 25, 2008
The Gleacher Center in Chicago, IL

Who Should Order This Homestudy

Lawyers and real estate professionals involved in development and management of condominiums, and mixed-use developments that include condominiums

Why Order

Condominium and mixed-use projects are going forward today, despite considerable market volatility. This seminar will provide a fully up to date view of current market conditions and presentations on cutting edge issues which should be of interest to a wide variety of professionals and other market participants.

We will begin with a keynote presentation by the Chief Executive of one of the top Chicago condominium development companies assessing today's development market, to be followed by a description of the current financing markets by a bank officer who has worked on the financing of some of the largest projects now being built in Chicago. This part of the program, in particular, should be highly informative to anyone who works on new developments in any business or legal capacity.

We will then turn to current developments in documentation and other issues faced by condo and mixed-use projects and will close with a timely focus on restructuring and managing troubled projects.

All of the panel participants have a great deal of experience working in today's mixed-use projects. This promises to be a high quality seminar, both for those with extensive experience in developing and financing condominium projects and for those who want to learn about this challenging field.

~ Mark D. Pearlstein, Esq. and Mark C. Simon, Esq., Program Co-Chairs

You Will Learn About

Agenda

Friday, April 25, 2008

8:00 am

Registration and Continental Breakfast

 
8:30 am

Introduction and Overview

Mark D. Pearlstein, Esq., Program Co-Chair
Levenfeld Pearlstein, LLC / Chicago, IL

Mark C. Simon, Esq., Program Co-Chair
Katten Muchin Rosenman LLP / Chicago, IL

 
8:45 am

Special Opening Addresses: Changing Markets and What They Imply for Developers and Lenders

The sales slowdown and the need to change strategies for structuring projects; impact of the subprime lending crisis on prospective purchasers; getting money flowing to buyers; meeting current investor expectations for risk and return from projects

Drew E. Burlak, Senior Vice President, Commercial Real Estate
Park National Bank / Chicago, IL

Joel M. Carlins, Co-Chief Executive Officer
Magellan Development Group LLC / Chicago, IL

 
10:15 am

Break

 
10:30 am

New Ideas for Adapting Your Financing Documents to Changes in the Markets

Updating your financing documents to reflect the changes in the market: Terms for dealing with the protections that lenders' counsel will want in what is becoming an increasingly risky market

Mark C. Simon, Esq., Program Co-Chair
Katten Muchin Rosenman LLP / Chicago, IL

 
11:15 am

Avoiding Pitfalls for Keeping the Buyer on Board Through Contract Closing

Arguments under Interstate Land Sales Full Disclosure Act (including when to file with the federal government); Chicago Condominium Ordinance; tips for ensuring compliance with disclosure requirements

Gregory A. Braun, Esq.
McCormick Braun Friman, LLC / Chicago, IL

Michael S. Friman, Esq.
McCormick Braun Friman, LLC / Chicago, IL

 
12:00 pm

Lunch (on your own)

 
1:15 pm

Mixed-Use Projects

Permitting issues for mixed residential and commercial uses; structuring projects to maximize the capability of the uses; documenting a project; operating agreements; easements; signage; parking; access by residents and visitors to each component

Mark D. Pearlstein, Esq., Program Co-Chair
Levenfeld Pearlstein, LLC / Chicago, IL

 
2:00 pm

Current Issues and Challenges Facing Condominium Developers

The renaissance of the government related secondary mortgage market; leasing restrictions; phasing; affordable housing

Brian Meltzer, Esq.
Meltzer, Purtill & Stelle LLC / Schaumburg, IL

 
2:45 pm

Break

 
3:00 pm

Navigating the Transition from Developer to Owner

Statutes covering transitions; how to set up smooth transition between developer and owner; ownership and developer relations; developer's continuing series of obligations in transferring control; competing interests

David Sugar, Esq.
Arnstein & Lehr LLP / Chicago, IL

 
3:45 pm

Restructuring Troubled Condominium Projects: Workout Issues

Elements of a successful workout strategy; who to get involved, and when; restructuring deals; creative ways to achieve a sell-out; managing unit closings

Michael S. Kurtzon, Esq., Moderator
Schwartz Cooper Chartered / Chicago, IL

David A. Grossberg, Esq.
Schiff Hardin LLP / Chicago, IL

Joel C. Solomon, Esq., General Counsel, Commercial Lending and Senior Vice President
Corus Bank, N.A. / Chicago, IL

 
5:00 pm

Evaluations and Adjourn

 

Cancellation

There is a $25 cancellation fee for Course Materials orders and $50 for Homestudy orders

Continuing Education Credits

This program qualifies for 6.5 IL CLE credits. Upon request, we will apply for CLE credits in other states and other types of credits.

Cost

Our complete Homestudy Course, consisting of a VHS or DVD recording and the written course materials, is available for $605. The written course materials alone are available for $100. We will ship your Homestudy order via UPS ground within two weeks after the seminar or the date we receive payment (whichever is later).
Order Homestudy

Faculty Bios

Mark D. Pearlstein, Program Co-Chair, partner at Levenfeld Pearlstein, LLC, in the Community Associations Service Group, represents developers of mixed-use and hotel condomimiums, and community associations. He has written a weekly column on condominium and homeowner association law for the "Chicago Tribune" entitled "Condominiums." He is the Chairman of the Illinois Legislative Action Committee of the Community Associations Institute.

Mark C. Simon, Program Co-Chair, partner at Katten Muchin Rosenman, LLP, serves as Chairman of the Chicago Real Estate Practice. He represents lending institutions, pension fund advisors and development companies, and is listed in "Chambers USA."

Gregory A. Braun, partner at McCormick Braun Friman, LLC, concentrates in real estate law, providing counsel to builders, developers and investors in code compliance, construction, insurance and corporate and tax matters, including 1031 exchanges. He also works on commercial and residential condominium conversions, and new home construction.

Drew E. Burlak, Senior Vice President of Commercial Real Estate at Bank of America, N.A., works with developers on financing for new construction and condo conversion, retail, hotel, office development and land purchases.

Joel M. Carlins, founder and Co-Chief Executive Officer of Magellan Development Group L.L.C., has been the driving force behind it becoming one of Chicago's most prolific mixed-use, residential developers, creating premier residences designed with sensitivity to their surrounding neighborhood. His experience includes the acquisition of raw land, financing, property development, design and construction.

Michael S. Friman, partner at McCormick Braun Friman, LLC, focuses on commercial real estate transactions, finance and commercial transactions. He represents developers, lenders and businesses in mixed-use condominiums projects, industrial and retail developments, construction and acquisition financing, commercial leasing, workout transactions and tax-deferred exchanges.

David A. Grossberg, partner at Schiff Hardin LLP and national chair of its Real Estate Practice, has a nationwide practice concentrating on real estate transactions, financings and land development and has represented real estate developers on significant projects. He is a "Super Lawyer" and "Leading Lawyer."

Michael S. Kurtzon, principal at Schwartz Cooper Chartered, is head of the Real Estate Finance practice. He counsels institutional real estate lenders in complex lending matters and represents real estate development companies in projects, including mixed-use, land acquisitions, and financing and documentation for condominiums. He is a "Super Lawyer" and "Leading Lawyer."

Brian Meltzer, partner at Meltzer, Purtill & Stelle LLC, concentrates his practice in corporate and business law, and real estate, with an emphasis on real estate finance, condominium and planned unit development law.

Joel C. Solomon is General Counsel of Commercial Lending and Senior Vice President at Corus Bank, N.A. During the past 10 years he has overseen the negotiation and documentation of the origination of well over $10 billion of condominium construction and conversion loans. He is engaged in numerous workouts in the Florida and California markets.

David Sugar, partner at Arnstein & Lehr LLP, is co-chair of the Condominium Law Group. He focuses on the representation of condominium associations and common interest community associations in connection with statutory compliance and governance issues, covenant enforcement, capital project loans, litigation and developer disputes.