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Commercial Real Estate Transactions: Skills

3 Credits

In this seminar, students will learn the basic skills necessary for the representation of a client in a complex, commercial real estate project by studying an actual “specialty” shopping center in suburban Chicago. The course will begin by reviewing the developer’s analysis of a proposed project and studying basic tax considerations and the choice of legal entity (limited liability company, corporation, partnership) through which the project will be developed and by which it will be owned. We will work on the contract to acquire the site, title issues, land use and environmental matters, mortgage financing, the construction process, and leasing shopping center stores to tenants. We will emphasize preparation and simulated negotiation of deal documents throughout the semester. As we work on the documents and other matters, we also will consider management of the client relationship (understanding the client’s needs and wishes, client communications) and relationships among attorneys working on the project.

Students will be evaluated on preparation for, and participation in, class and a variety of written assignments. The course will satisfy the upper level skill requirement. Enrollment is limited to eight to ten students. Students may not take both this course and Commercial Real Estate Transactions.

Prerequisite: Real Estate Transactions and Finance.