SITUATION The lender, a New York City based private equity fund, entered a motion to appoint a Receiver to preserve the asset value of a 22-story masonry 359-room hotel constructed in 1927 located in the…
MAYFAIR OFFICE CASE
SITUATION A major special loan servicer, Midland Loan Services, entered the motion to appoint a Receiver to preserve the asset value of a Class B Office Building in suburban Milwaukee. The borrower lacked the funds…
SHORELINE CONDOMINIUM
SITUATION The City of Chicago entered a motion to appoint a Receiver to prepare a feasibility study of a 49-unit, high-rise residential condominium. The HOA was under pressure by the City of Chicago Department of…
LINCOLN MALL CASE
SITUATION The Village of Matteson, IL entered the motion to appoint a Receiver to protect the public and preserve the value of the Lincoln Mall, a partially demolished regional mall in south suburban Chicago. In…
Latest News
- $150 million Buffalo Grove mixed-use development to break ground soon August 12, 2022A virtual meeting next week is expected to share the timeline for the 23-acre project.
- First Hospitality's move downtown aims to attract the best talent August 12, 2022The hospitality company has moved into modern, highly amenitized building in the Loop.
- South Side landlord sells 2 apartment buildings August 12, 2022The longtime owner purchased the properties more than 20 years ago, and now plans to relocate out of Illinois by year-end.
- Goldstein Financial secures succession plan with Capital Strategies merger August 11, 2022"This is a huge change for what's going to be available now in Chicago from what was available in the past," said Allan Goldstein.
- North Chicago warehouse among 8 industrial properties sold to Swedish investor August 11, 2022The portfolio includes a 395,000-square-foot facility on Skokie Highway.
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OPPORTUNITY ASSESSMENT
Conduct local market overview Provide competitive property overview Review third-party reports Review and confirm existing zoning and entitlements Review and confirm existing incentives such as TIF, Historic Tax Credits, Enterprise Zone, New Market Tax Credit,…
PROPERTY STABILIZATION
Inspect Property Secure site and building access Reconnect utilities – electric, gas, phone Test and monitor mechanical systems Review and maintain existing property covenants if applicable Obtain casualty insurance Assemble property file Contact tenant(s) and…
ASSET MANAGEMENT
Establish operating budget Maintain accounts payable and accounts receivable Obtain third party reports including: title, legal, building condition, appraisal, market studies, etc. Maximize and maintain occupancy if applicable Appeal real estate tax assessment Supervise required…
KEY PEOPLE
Mr. Suzuki is the President of Collateral Trustee, Inc. and has over 30 years of experience serving financial institutions, including banks, private equity firms, insurance companies, court appointed trustees and governmental agencies.
Ms. Neill has over 15 years experience as an asset manager and financial analyst of real estate for private equity firms and community banks. Her area of focus included commercial and multifamily properties located in the greater Chicago Metro and Upper Midwest. Prior employers include Ravinia Capital Group, Comprehensive Management Services, Inc., Great Banc Trust Company and University Bank. Ms. Neill holds a Bachelor of Arts Degree from Loras College in Dubuque, Iowa. She is an active sailor and member of the Chicago Yacht Club and is a Board Member for Judd Goldman Adaptive Sailing.
