Blog

With the rise in apartment rents, we are being approached by developers to assist with the acquisition and de-conversion of condominium buildings to apartment rental properties in Chicago. Although this may seem like a daunting process, it really only involves the following steps: (1) obtaining the vote of unit owners to sell the entire condominium building; and (2) legally de-converting the condominium building.

If you are starting an Amazon business, or any business for that matter, it can be scary, overwhelming, and costly. The biggest mistake I see is not setting up your business properly from the start. In the Amazon private seller and Merch by Amazon industries, there are two important factors to consider from the start: (1) using the correct entity; and (2) protecting your brand.

Make sure you strictly comply with the lease notice provisions for exercising an option to renew and extend in Illinois.

Buying and selling an Amazon, other e-commerce business, or any business for that matter, comes with many issues and considerations. Although this post will focus on the legal issues involved, I will briefly touch on other considerations as well.

Starting and operating a successful business is difficult, confusing, and often fraught with unforeseen liabilities. Our 8 part series, titled Structuring and Operating Successful Business, the Pinwheel, breaks apart a business into 8 areas providing a simplistic, easy to understand analysis to help you make the right decisions from the beginning.

The Illinois Limited Liability Company Act (“Act”), 805 ILCS 180/1-1, was substantially amended this year. The changes went into effect on July 1, 2017 and can have a significant impact on the formation and operation of Illinois limited liability companies. Although there are many revisions, here are some that may have the most impact.

On June 22, 2016, the Chicago City Council voted 43-7 to enact an ordinance amending Titles 2, 3, 4 and 17 of the Municipal Code regarding Shared Housing Units and Vacation rentals (the “Shared Housing Ordinance” or “SHO”). Chicago Mayor Rahm Emanuel signed this legislation on June 24, 2016, and the Shared Housing Ordinance was published in the City Council Journal of Proceedings on July 20, 2016 at pages 27714 through 27770.

On June 22, 2016, the Chicago City Council voted 43-7 to enact an ordinance amending Titles 2, 3, 4 and 17 of the Municipal Code regarding Shared Housing Units and Vacation rentals (the “Shared Housing Ordinance” or “SHO”). Chicago Mayor Rahm Emanuel signed this legislation on June 24, 2016, and the Shared Housing Ordinance was published in the City Council Journal of Proceedings on July 20, 2016 at pages 27714 through 27770.

With the current rate of construction, there is no surprise that the number of mechanic’s liens filed has skyrocketed. Since we have experienced an uptick in our real estate clients requesting assistance, I thought it would be a good time for a refresher.