The downturn of the financial markets and economy has greatly impacted the real estate market decreasing property values and causing challenges for developers, owners, investors and lenders. With real estate foreclosures continuing at a constant pace, opportunities to turnaround and restructure troubled projects and return them to financial health and profitability are abundant.
Chicago Real Estate Professionals hosted a breakfast program featuring panelists discussing strategies to restructure and turnaround foreclosed real estate projects and return them to viable investments and profitable buildings.
Topics included:
• The powers of a court appointed receiver;
• Tools available to a lender foreclosing on fractured projects; and
• Unique challenges of condominium projects including stabilizing the condominium association and collateral during the foreclosure process.
Attendees heard from a distinguished panel of turnaround and restructuring experts including:
Panelists:
Steve Baer, Member, Rally Capital Services LLC
Lindsey Delrahim, Vice President of Sales, Jameson Sotheby’s International Real Estate
Ron Grais, Of Counsel, Jenner & Block LLP
Bryan J. Segal, Partner, Barack Ferrazzano Kirschbaum & Nagelberg LLP
Moderator:
Michael J. Delrahim, Managing Partner, Brown, Udell, Pomerantz & Delrahim, Ltd.