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Unconventional thinking from law firms with real estate niches is required to get them through the recession. Marcia Owens  and  Tom Duffy, partners in Wildman Harrold’s real estate group, laid some of those out for us when we stopped by to visit the 16-lawyer group at the Chicago based firm.
Marcia Owens and Tom Duffy, partners in Wildman Harrold’s real estate group
What cold weather? Tom and Marcia tell us they’re collaborating more with the other practice groups at Wildman, eg, Government Affairs, for work on new market tax credits, TIFs, and other sources of government-assisted financing. Eg, Tom recently helped secure a multi-million dollar TIF for a large retail center in Aurora. Marcia has done real estate work in the energy sector  and says she likes the opportunity to collaborate with the energy/clean technology and intellectual property teams on the real estate needs of these new green innovations.
Tom Duffy and Marcia Owens, partners in Wildman Harrold’s real estate group

They rep developers and landlords frequently, and while development activity has slowed, the attorneys say they have some clients who are ready to invest for the right price. They're also doing a lot of work with distressed properties. Similar to the early  '90s, much of that work is in collaboration with the restructuring & insolvency and litigation practice areas on workouts and restructurings.

Related Topics: Government Affairs