An Introduction to Commercial Real Estate Transactions: The Big Four (IL)

Commercial real estate transactions are complicated and involve a lot of moving parts. If you would like to learn the four key points to being an effective attorney in this practice area, join us at this upcoming beginner-level seminar, taught by experienced commercial real estate attorneys.

Our excellent faculty will give you a good understanding of: Leasing, Purchase and Sales transactions, Loan Docs and Title Insurance all in the commercial setting only – residential real estate will not be discussed.

Can’t attend? This program will be recorded live on September 14, 2018 in Chicago, IL. The audio package (including seminar materials) will be available within two to three weeks after the live program date. Please click on the “Audio CD or Download” tab to the right if you want to pre-order it.


Morning Session: 9:00 a.m. – 12:15 p.m. 

9:00 – 10:30

Pitfalls in Commercial Leasing: Avoiding the Dangers

  • Introduction: Avoiding the Pitfalls and the Problems in Negotiating and Living with a Commercial Lease
    • Essential Goals of a Commercial Lease
    • The Traps of the Boilerplate Lease
    • Keeping the Lender Happy
    • Goal of this Discussion
  • The Basic Information and Economic Covenants of the Lease
    • Recitals/Introduction
    • The Premises
    • The Term
    • Base Rent
    • Additional Rent
  • Operational Covenants
    • Use Provisions
    • Maintenance of Premises and Common Areas
    • Parking
    • Utilities; Interruption of Services
    • Alterations to the Premises and the Project
  • Apportionment of Risk Covenants
    • Insurance Requirements
    • Indemnities
    • Casualty
    • Tenant’s Completion of Refixturing or Refurbishing Interior Space
    • Condemnation
    • Environmental Matters
    • Assignment and Subletting
    • Subordination, Attornment and Non-Disturbance
  • Remedies
    • Events of Default
    • Possessory Remedies
    • Economic Remedies
    • Attorneys’ Fees; Waiver of Jury Trial; Alternative Dispute Resolution

10:30 – 10:45


10:45 – 12:15

Purchase and Sale Transactions

  • Overview
  • Letters of Intent
  • The Purchase Agreement
    • Basic Sections
    • Title
    • Survey
    • Inspection and Feasiblity Period
    • Bulk Sales
    • Seller Covenants
    • Representations and Warranties
    • Condition of the Property
    • Closing
    • Prorations
    • Notice
    • Defaults and Remedies
    • Provisions
      • Merger
      • Counterparts
      • Authority
      • Severability
      • Gender
      • Time is of the essence
      • Binding effect
      • Venue and choice of law
    • Limited Liability Single Purpose Entities
      • Considerations
      • Other choices
    • Third Party Considerations
      • Lenders
      • Engineers
      • Surveyors
      • Appraiser
      • Title Company
      • Insurance Consultants
      • Brokers
      • Environmental Consultants
      • Legal

12:15 – 1:15


(lunch on your own)

Afternoon Session: 1:15 – 5:00 p.m.

1:15 – 2:45

Commercial Loan Documents

  • Why loan documents are so important
    • Attach to real property
    • Paper trail
  • Loan Commitment
    • Basics that should be covered
  • Loan Agreement
  • Promissory Note
  • Mortgage/Deed of Trust
  • Environmental Indemnity Agreement
  • Guaranty
    • Payment Guaranty
    • Performance Guaranty
  • Reserve Agreements

2:45 – 3:00


3:00 – 4:45

Title Insurance in the Commercial Context

  • What is Title Insurance in Commercial context?
    • Residential vs. Commercial
    • Lenders vs. Owners coverage
  • Schedule A and B-I Requirements
    • Legal Description Issues
    • Corporate Documentation
  • Schedule B-II Exceptions
    • Endorsements/Aff Coverage
  • Deletion of Standard exceptions
    • OA Reps
    • Mechanic Lien Review
    • Survey
    • Tenant Info
    • Loan Docs
  • How all topics discussed during the day merge together in forming the final policy.

4:45 – 5:00

Final Q/A


September 14, 2018

9:00 a.m. – 5:00 p.m. (lunch on your own)
Check in between 8:30 – 9:00 a.m.

The Palmer House Hilton
17 E. Monroe St.
Chicago, IL 60603



“It’s not merely about getting in the required CLE hours. The content of your Circuit Court Boot Camp that I took impressed me and sold me on your programs. It’s very easy to get the hours. Getting something of substance that is beneficial is different. I’m proud to say that this is what separates you from the competition.” – Jerry Szymanski, Esq.

The following testimonials are from our Real Estate Overview program held in Florida:

“Very informative and effective seminar.” – E. Briggs, Esq.

“I especially liked the practice tips.” – L. Taylor, Esq.

“[John Catalano’s] talk on leases was clear and methodical.”

“[Michael Greene’s] materials were…helpfully put together. They referenced relevant law and will be useful to review in the future. He was very engaging.”

“Excellent presentation [by Michael Greene]. Very detailed, thorough and covered the basics.”

“The speakers were great — it was 101 level, so an overview of all topics was what was appropriate.”

“Interesting. The topic of Execution of Documents was very useful.”

“[Catalano and Greene’s presentation was] very informative and useful.”

“Mr. Greene’s detailed outlines were excellent.”

“Liked the handout.”

“Knowledgeable speakers.”


Michael J. Delrahim, Esq.
Managing Partner
Brown, Udell, Pomerantz & Delrahim Ltd

Michael J. Delrahim is the Managing Partner of the law firm of Brown, Udell, Pomerantz & Delrahim Ltd.  He has an expansive practice counseling institutions, opportunity funds, sponsors and investment managers with respect to partnerships, debt and equity placement, and real estate and leasing transactions.  He also serves in-house as counsel to nationally operating real estate companies.

Complementing his transactional practice, as a member of the federal trial bar, he brings a unique perspective to representing clients in real estate acquisition, development and management, debt and equity source documentation, troubled asset workouts, and partnerships.  Michael’s representation of managers, sponsors, partners and lenders is comprehensive.

Michael is a member of the Chicago Advisory Board of BBVA Compass.  In recognition of his accomplishments, Michael was inducted as a Fellow into the American College of Mortgage Attorneys (ACMA) and is a member of their Diversity Committee.

He is the founder of the Chicago Real Estate Professionals, a monthly networking group that brings together nearly 1000 of the most seasoned real estate professionals to attend a facilitated panel discussion on thought-provoking topics of interest to real estate professionals. An adjunct professor of law at Chicago-Kent College of Law – IIT, he teaches Real Estate Fundamentals and Syndication and lectures extensively before business and legal forums on real estate and related topics.  He is a frequent lecturer, writer and commentator on real estate topics for the local and National media.

He is licensed to practice in Illinois and the District of Columbia.  He earned a Juris Doctorate degree from Chicago-Kent College of Law – IIT and a Bachelor of Science degree in Political Science from the University of Wisconsin – Madison.

Jason Doran, Esq.
Momkus McCluskey LLC

 A partner with Momkus McCluskey LLC, Jason’s practice is concentrated in estate planning and estate administration, commercial and residential real estate, including "work outs" (forbearance, foreclosure, short sale, and deed-in-lieu agreements)), business transactions, and general representation of business entities and their principals. In the beginning of his career Jason was a litigator with Dickson and Hasenbalg in Aurora, Illinois, and he brings that experience as an invaluable tool in assisting his clients in his current practice. 

Jason is also a licensed real estate broker in the state of Illinois and a member of the National Association of Realtors and the Mainstreet Organization of Realtors. Jason earned his Juris Doctor Cum Laude in 2001 from Northern Illinois University and finished first in his class in the sequence of business courses. 

Jason was admitted to practice law in the state of Illinois in 2001. In January 2002, he was admitted to practice in the United States District Court of the Northern District of Illinois and in 2010 he was admitted to practice before the United States Supreme Court.

Henry Krasnow, Esq.
Sugar Felsenthal Grais & Helsinger LLP

For over 50 years Henry C. Krasnow has worked with entrepreneurial family and privately-held businesses to develop strategies to solve their business/legal problems by focusing on the risks, costs and impact on profitability of the available alternatives.

Henry’s broad range of experience includes representations involving minority shareholder rights, governance structures, succession planning and shareowner disputes, real estate development, leasing, sales and acquisitions, sales and purchases of businesses, banking transactions, employment disputes and discrimination claims, intellectual property (copyright, trademark, trade secret, and unfair competition), civil trial and appellate litigation, arbitration and mediation of business disputes, and debt restructuring.

Bill McGuinn, Esq.
Sugar Felsenthal Grais & Helsinger LLP

William F. McGuinn concentrates his practice in commercial real estate, subsidized residential housing and strategic planning for entrepreneurs. He represents real estate developers, commercial landlords, tenants and various closely-held businesses in complex transactions, locally and throughout the country.

Bill’s real estate practice extends to the acquisition, development, sale, leasing and financing of commercial, office, residential and retail properties.

In his affordable housing practice, Bill has represented owners and developers of thousands of housing units in numerous states with multi-layered financing including taxable and tax exempt bonds, low income housing tax credits, HOPE VI, Community Development Block Grants, Neighborhood Stabilization Program funds, Tax Credit Assistance Program and Tax Credit Exchange Program.  

Bill has also represented developers of conventionally financed projects, both residential and commercial.  He also guides buyers and sellers, landlords and tenants through all aspects of their respective transactions.

Aside from real estate matters, Bill has worked with numerous closely held businesses on a variety of matters including representing business in obtaining credit facilities, structuring start-up organizations and the purchase and sale of a number of business entities.

Bill is an avid sailor and participates annually in the Chicago Yacht Club Race to Mackinac.  Bill has also competed in the Transpac, racing from Long Beach, California to Honolulu, Hawaii.

Neil Narut, Esq.
Senior Underwriting Counsel
Proper Title, LLC

Since being admitted to practice law in Illinois in 1997, Neil F. Narut has provided over twenty years of quality representation in real estate and title insurance matters to Illinois and Wisconsin consumers, national lenders and national title insurance companies.  In private practice, Neil represented clients in residential and commercial real estate transactions while also litigating real estate disputes and mechanic’s liens claims.  In 2008, he joined a multi-state mortgage default firm as the Managing Attorney of its newly opened Chicago-Loop office and provided counsel in title curative and REO transactions for national lenders and servicers.  Counsel in title matters eventually extended into Wisconsin, and in 2013, Neil was recruited away from private practice by the North Suburban Commercial Division of the Chicago Title Insurance Company as an Area Underwriter where he was soon thereafter selected to the Fidelity National Financial Underwriting Leadership Program in Jacksonville, FL.  In 2018, Neil returned to the Loop when he joined Proper Title as its Senior Underwriting Counsel.  Neil frequently speaks at continuing legal education courses both nationally and throughout Chicagoland on a variety of real estate-related topics.  A graduate of the John Marshall Law School and Loyola University of Chicago, Neil resides in Lake Geneva, Wisconsin with his family.


Register by July 19th and save on each registration with the Early Bird rate!

Registration fees are per person

Individual: $425
Early Bird registration $349

Group: $399 per person for 2 or more from the same company pre-registering at the same time
Early Bird registration $324

Government employee/Legal Aid* Rate: $375
Early Bird registration $299

Law Students/paralegals*: $235  (current JD students only)
Early Bird registration $175


Program materials:

We’ve gone green.  Registration fees include an electronic copy of your handbook emailed one week in advance of the program.  Be sure to check your spam folder if you don’t see it by then.

If you prefer, you may order a hard copy of the handout to be provided the day of the program for $25. To do so, please be sure to check the box when you register. If you want a hard copy, you must order it when you register; there will not be any available for purchase the day of the program.

* Law Student Rate is for current law students only.

** Legal Aid attorneys are those attorneys employed by Legal Aid/non-profit firms. It does not include attorneys who have their own practice, or are employed by law firms, that volunteer their time for non-profit causes or take on pro-bono cases. Full and partial scholarships may be available to a limited number of Legal Aid attorneys, based upon registration. Please call (877) 858-3848 to discuss or email your request to


CLE Credits

IL General: This program is approved for 6.5 units of general MCLE in Illinois through September 13, 2020.

CA General:  This program is approved for 6.5 units of general CLE in California.

NJ General: The LIVE session of this course is approved, under New Jersey’s CLE Approved Jurisdiction policy, for 6.5 CLE units. Pincus Professional Education is a CA Accredited Provider, which is a NJ approved jurisdiction. See the New Jersey State CLE Board Regulations and Guidelines for further information.

NY General: The LIVE session of this course is approved, under New York’s CLE Approved Jurisdiction policy, for 6.5 CLE units. Pincus Professional Education is a CA Accredited Provider, which is a NY approved jurisdiction. See Section 6 of the New York State CLE Board Regulations and Guidelines for further information.

This program is approved for CLE in the states listed above.  Upon request, Pincus Pro Ed will provide any information an attorney needs to support their application for CLE approval in other states other than what is listed above.

Terms & Refund Policies

Recording policy: No audio or video recording of any program is permitted.

Seminar Cancellations: Should you be unable to attend for any reason, please inform us in writing no later than 14 days prior to the event and a credit voucher will be issued. If you prefer, a refund, less a $50 non-refundable deposit, will be issued. No refunds or credits will be given for cancellations received within 14 days of an event. However, if you notify us within 14 days of an event, and wish to convert your in-person attendance registration to an Audio CD package (with handout), we can do so. A small additional shipping charge, and sales tax in CA, will be incurred. No shipping charge is incurred for downloads. We will also issue a voucher for the amount paid if you notify us within 14 days and prefer not to have the audio recording.

Substitutions may be made at any time.

Reminder: The room temperature at hotels and other seminar locations are notoriously hard to control. Please bring a sweater or jacket in case it gets cold and/or layer as if you are going to the movies so you are comfortable.

For policies related to audio products, please select “I want a download or CD” on the right.

$235.00$425.00 $175.00$349.00 each

Chicago, IL | September 14, 2018


Printed Materials

[ All attendees receive a pdf of the materials one week prior to the program. To purchase a printed hard copy, please select this option to order it now. ]

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