225 West Illinois Street
Suite 300
Chicago, Illinois 60654
Main (312) 475-9900
Fax (312) 475-1188
(312) 475-9900 ext. 235
(312) 475-1188 fax
Michael J. Delrahim
Managing Partner

 

Michael J. Delrahim is the Managing Partner of Brown, Udell, Pomerantz & Delrahim.  Real estate investment firms and financial institutions across the country are advised by Michael with respect to real estate transactions, equity syndication, financing, private equity investment, leasing, distressed asset workouts and real property development.

Michael represents both lenders and borrowers in connection with his real estate finance practice. He advises clients with respect to senior and mezzanine loans, HTC development financing, lines of credit and construction facilities. Michael is recognized for his pragmatic approach of framing and solving risk obstructions in deals. He is highly regarded for providing sophisticated legal counsel with respect to large scale and multi-phase developments.

Complementing his transactional practice, as a member of the federal trial bar, and seasoned lender’s and borrower’s counsel, he brings a unique perspective to representing clients in real estate financing, acquisition, development and management, equity syndication, troubled asset workouts, and partnerships. Michael’s representation of sponsors, institutional investors, and nationally recognized lenders is comprehensive.

Michael’s reputation for representing real estate investment firms and financial institutions earned him a prestigious appointment to the Chicago Advisory Board of BBVA Compass prior to its merger with PNC. In recognition of his accomplishments in real estate debt structuring and financing, Michael was inducted as a Fellow into the American College of Mortgage Attorneys (ACMA). Michael serves as a member of its Diversity Committee and is the Illinois state chairperson of ACMA. In 2021, Michael was honored with the Distinguished Service Award by the Chicago-Kent Alumni Association for his significant contributions to the law school.

An adjunct professor of law at Chicago-Kent College of Law – IIT, he teaches Real Estate Fundamentals and Syndication. Michael lectures extensively before business and legal forums on real estate, finance and related topics. He is a frequent speaker and commentator on real estate topics and trends for the media.

Practice Areas

  • Real Estate Development
  • Complex Commercial Litigation
  • Real Estate Finance & Lending
  • Commercial Leasing
  • Property Management
  • Construction Law
  • Corporate & Partnership Law
  • Condominium Law

Lender’s Counsel – Representative Loan Transactions

  • $50,500,000 – Acquisition & Construction Loan – Conversion Hotel to Multi-Family, Pacific Northwest.
  • $22,700,000 – Refinance – Glamping and Hospitality Loan, Falmouth, MA.
  • $26,515,000 – Construction & Inventory Loan – Condominium & Townhome, Chicago, IL.
  • $25,100,000 – Refinance and Preconstruction Loan – Multi-Family, Miami, FL.
  • $29,500,000 – Acquisition Loan – Debt on Debt Financing Secured by Regional Mall, Barrington, IL.
  • $27,000,000 – Construction Loan – Conversion Office to Multi-Family, Birmingham, AL.
  • $3,700,000 – Acquisition & Construction Loan – Conversion Hotel to Multi-Family, Moscow, ID.
  • $7,750,000 – Acquisition & Construction Loan – Condominiums, Atlanta, GA.
  • $8,850,000 – Acquisition & Construction Loan – Conversion Hotel to Multi-Family, Kennewick, WA.
  • $36,000,000 – Construction Loan – Condominium Development, Sarasota, FL.
  • $5,000,000 – Acquisition Loan – Conversion Hotel to Multi-Family, Eugene, OR.
  • $15,500,000 – Acquisition & Construction Loan – Industrial, Somerset, NJ.
  • $16,400,000 – Acquisition & Construction Loan – Conversion Hotel to Multi-Family, Lincoln City and Medford, OR.
  • $4,600,000 – Inventory Loan – Condominium, Austin, TX.
  • $3,200,000 – Acquisition Loan – Office, Huntsville, AL.
  • $12,500,000 – Mezzanine Construction Loan – Multi-Family, Northbrook, IL.
  • $4,350,000 – Debt on Debt Financing Secured by Multi-Family, Port Charlotte, FL.

Developer’s Counsel – Representative Development Transactions

  • One Chicago, multi-tower and podium development – 735 apartments, 77 condominiums, office and retail. Chicago, IL.
  • North Union, low-, mid- and high-rise buildings, retail and public open space – 2,700 homes and retail. Chicago, IL.
  • 9 Walton – luxury condominium tower – 68 units. Chicago, IL.
  • Walton on the Park – luxury condominium tower – 201 units. Chicago, IL.
  • The Grant – luxury condominium tower – 298 units. Chicago, IL.
  • Harbor View – luxury condominium tower – 296 units. Chicago, IL.
  • Adler Place – luxury condominium tower – 274 units. Chicago, IL.
  • University Commons – historical landmark 6 building adaptive reuse condominium conversion – 917 units. Chicago, IL.
  • River Place on the Park – condominium tower – 220 units. Chicago, IL.
  • Two River Place – condominium tower – 169 units. Chicago, IL.
  • One River Place – adaptive reuse condominium conversion – 241 units. Chicago, IL.
  • Enclave – townhomes – 49 units. Chicago, IL.
  • Webster Square – luxury condominiums – 95 units. Chicago, IL.
  • The Reed at Southbank – luxury condominiums – 216 units. Chicago, IL.

Speaking Engagements

  • “A Buyer’s Guide to the Role of Attorneys in Real Estate Closings.” Grant Thornton. Chicago, May 29, 2008.
  • “Real Estate Closings and Post-Closing Issues.” MCLE. Brown, Udell, Pomerantz & Delrahim, Ltd. Chicago, August 28, 2007.
  • “Title Commitments and Policies.” MCLE. Brown, Udell, Pomerantz & Delrahim, Ltd. Chicago, September 21, 2007.
  • “Real Estate and Land Surveys.” MCLE. Brown, Udell, Pomerantz & Delrahim, Ltd. Chicago, September 14, 2007.
  • “Zoning and Related Issues.” MCLE. Brown, Udell, Pomerantz & Delrahim, Ltd. Chicago, September 7, 2007.
  • “Letter of Intent, Purchase Contracts and Third Parties.” MCLE. Brown, Udell, Pomerantz & Delrahim, Ltd. Chicago, August 31, 2007.
  • “Failed Banks and Loss Shore Agreements.” Chicago Real Estate Professionals. Chicago, June 21, 2012.
  • “Balancing the Legal Risks and Business Aspects in Complex Real Estate Transactions.” Chicago Real Estate Professionals. Chicago, August 16, 2012.
  • “Commercial Loan Workouts: What Works and What Doesn’t.” Chicago Real Estate Professionals. Chicago, October 18, 2012.
  • “Real Estate Industry Collaboration: Creating Strategic Business Alliances with Women and Minority Business Enterprises.” Chicago Real Estate Professionals. Chicago, January 24, 2013.
  • “Anatomy of a Foreclosure.” Chicago Real Estate Professionals. Chicago, February 28, 2013.
  • “Meet Chicago’s Real Estate Media: A Distinguished Panel of Reporters.” Chicago Real Estate Professionals. Chicago, March 28, 2013.
  • “Real Estate: Where is the Opportunity Set Globally Today?” Opal Financial Group Conference. Boston, October 8, 2013.
  • “How Hedge Funds Operate in the Mezzanine Space.” iGlobal’s 6th Real Estate Mezzanine Financing Summit. New York, May 6, 2015.
  • “Things A Dirt Lawyer Needs To Know About Grass” Supplemental Information – Maryland State Bar Association Real Property Section Annual Meeting – Part II – June 17, 2016
  • Cannabis Law & Practice: Real Estate Transactions.  Pincus Seminar – Chicago, IL – October 6, 2017

Bar Admissions & Memberships

  • Illinois
  • Northern District of Illinois
  • District of Columbia
  • Minnesota

Education

  • Law School: Chicago-Kent College of Law
  • Undergraduate: University of Wisconsin, Madison
Bio Gretchen VaughnBio Glenn Udell