Real Estate Attorney

COMMERCIAL & RESIDENTIAL REAL ESTATE COUNSEL

 

The attorneys at Madison Group have extensive experience in real estate closings, especially in purchase and sale of commercial real estate.  Our attorneys have guided many new investors in their first purchase and work with many investment and development firms in the purchase and sale of investment properties including, multi-family complexes, strip malls, warehouses, industrial properties ranging from as small as $50,000 to $30 million. 

 

Our attorneys bring years of experience dealing with a many complex real estate matters.  Many have turned to Madison Group to protect their interest.  Truly, we are here to look out for you.  Our attorneys have seen very simple real estate matters handled with such careless and negligence and resulted in hundreds of thousands of dollars of losses.  Our attorneys review every detail of your real estate purchase because each property is unique.

 

Shortsale or Loan Modification

 

Due to the recent housing crisis, significant portion of Madison Group's real estate practice is focused on real estate shortsales and loan modifications.  Our office has trained and experienced staff that can expeditiously manage and negotiate your shortsale or loan modification.  If you are a real estate professional or individual seeking either a loan modification or shortsale, contact our office immediately.  It is important to act fast as time is limited and necessary steps will be required to avoid foreclosure or loss of your property.

 

To expedite your file, please provide the documentation listed below and fax to (312) 251-6009 or email us at info@madison-law.com

 

Checklist to start your real estate shortsale or loan modification:

1) Most recent federal tax return

2) Two (2) recent bank statements

3) Two (2) recent pay stubs

4) Hardship Letter (letter explaining why you cannot make your monthly payments)

5) Authorization Letter permitting Madison Group LLP to contact your bank (contact us for a pre-drafted letter for your convenience)

6) Recent mortgage and lines of credit statements

7) Offer(s) to purchase your property (if a shortsale).  If you do not have an offer, contact us immediately and we will put you in touch with experienced real estate professionals.

8) Monthly financial statement.

 

 

 

 

Hands-on Experience

 

Our attorneys represent many Asset Management, Development and Investment firms throughout Chicago and Illinois and regularly advise their clients of ever-changing laws as both transactional aspects and litigious matters.  Our attorneys regularly litigate many real estate matters from breach of real estate contracts, partnership disputes and the basic eviction matters that keep us current with the changing laws and the knowledge to prevent your transaction from going down the same path that most transaction only law firms cannot provide.

 

Smooth Transactions

 

Our objective at Madison Group LLP is for your real estate closing from the drafting and execution of the purchase agreement to closing to be as smooth and trouble-free as possible.  Our attorneys focus is to anticipate potential issues and resolve them immediately from financing, property valuation, commercial and residential leasing, zoning and title.  Also, our business law and estate planning experience gives you the added expertise in properly titling and protecting your assets from creditors and other claims.  Furthermore, we will create the necessary corporation, limited liability or other entity for you and/or partners so that you can focus on the returns on your investment.  Let the Attorneys at Madison Group assist you in your next real estate matter.

 

 

Example Case

 

This case exemplifies the consequences of failing to have adequate legal representation looking out for their clients’ best interest: Client and his partner who was being represented by another attorney approached Madison Group LLP regarding his $300,000 earnest money for a purchase of a strip mall.  The strip mall was under construction and two years later the property was not finished.  Now, the Partner backed out of the deal and would our Client could not afford to buy the property himself.  The seller of the property would not return the earnest money because they were under contract.  Our clients previous attorney failed to do two simple things, first he failed to create a simple partnership agreement and second failed to provide a mortgage contingency provision which is standard provision in every real estate purchase agreement.  Luckily for our client, we were able to convince the seller to return the earnest money and cancel the contract because the property was not completed.