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.
At the start of this year, a new provision of the Illinois Mechanics Lien Act became effective, a major development in the history of Illinois’ MechanicsLien Act that may simplify the sale or refinancing of real estate that would otherwise be encumbered by mechanic’s lien litigation.
Litigation over restrictive covenant agreements, including non-competes, is on the rise. Because such agreements are viewed as restraints on trade, theyare generally disfavored by Illinois courts. In a recent decision, an Illinois appellate court followed suit, striking down as overbroad and unreasonablethe non-compete, non-solicit and confidentiality provisions in an employment agreement.
David
Michael
Managing Partner
Chair, Human Resources and Employment Law Practice