What Are the Most Common Legal Mistakes First-Time Chicago Multifamily Real Estate Buyers Make (and How to Avoid Them)?
First-time multifamily buyers in Chicago often focus on price, neighborhood and cap rate but miss legal and compliance issues that silently add cost, delay closing or create post-closing liability.
New USPS Postmark Procedures May Result in Late Filing Penalties
For decades, taxpayers and legal professionals have relied on the "mailbox rule": if a document is dropped in a USPS collection box by the deadline, it is considered timely filed. This is no longer a safe assumption.
The United States Supreme Court has determined that the Americans with Disabilities Act (“ADA”) does not extend to discrimination claims from retired employees.
David
Michael
Managing Partner
Chair, Human Resources and Employment Law Practice
This article will address the importance of construction project communication and offer some simple steps to make sure such communication is a reality and not an illusion.
Although the OBBBA’s tax and spending provisions tend to receive greater media attention, it also contains several provisions impacting employer-sponsored benefit plans.
Hrishikesh
Shah
Partner
Chair, Employee Benefits and Executive Compensation Practice
The Tax Cuts and Jobs Act (“TCJA”), which was signed into law on December 22, 2017, made some of the most significant changes to the tax law since the Tax Reform Act of 1986.
On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law. Among many changes, the OBBB included an expansion of the qualified small business stock (“QSBS”) gain exclusion under Section 1202 of the Internal Revenue Code.
On June 27, 2025, the Supreme Court issued its decision on review of three federal court orders that have blocked—on a nationwide basis—implementation of President Trump’s executive order restricting so-called “birthright citizenship” under the Fourteenth Amendment of the Constitution (whereby a child born in the United States “and subject to the jurisdiction thereof” is automatically deemed a citizen regardless of parental status).
On June 5, 2025, the Supreme Court issued a unanimous decision in Ames v. Ohio Department of Youth Services, striking down the “background circumstances” requirement in so-called “reverse discrimination” cases.
Rent-ready credits are helpful when a buyer is acquiring a stabilized multifamily property and wants to control the unit turnover process. Offering this credit early in a transaction can ease concerns about vacancy rates and unit condition, which can reduce low purchase offers from cautious buyers.