Navigating a Dynamic Commercial Real Estate Landscape
The commercial real estate market today is marked by a delicate balance of resilience and transformation. Industrial spaces continue to thrive amid supply chain shifts and e-commerce growth, while life sciences developments are accelerating with investments fueled by innovation and public health priorities. Against this backdrop, strategic transactions that combine long-term vision with strong execution are more critical than ever. Recent projects by our team, ranging from industrial land entitlements and multi-tenant sales to life sciences manufacturing facilities and office asset transfers, underscore the importance of thoughtful planning. Below, we share insights from a few of our projects, illustrating how tailored approaches can deliver favorable outcomes in today’s commercial real estate environment.
Strategic Transactions and Long-Term Vision
Michael Goldhirsh and I recently had the pleasure of working with our client on the successful sale of a large multi-tenant industrial property in the Chicago suburbs. This sale represents the culmination of nearly five years of collaboration, starting when we helped the client acquire and entitle the site. Over that period, we secured multiple zoning approvals, negotiated lease agreements, and arranged an economic incentive package that collectively enhanced the property’s value and attractiveness. As part of the transaction, the sale included a partial leaseback that allowed our client to maintain operations in a portion of the facility.
Located on 8.38 acres of industrial land, our team successfully obtained Special Use approvals for a 96,000-square-foot Truck Freight Terminal operation, Heavy Motor Vehicle Repair, and Outdoor Storage uses. The property includes cold storage, industrial outdoor storage, and rail access, and the site is near Interstate 294 and Chicago O’Hare International Airport. These zoning enhancements were not only critical to maximizing the site's functional flexibility but also aligned with the Village’s Comprehensive Plan, which emphasizes the preservation and growth of industrial corridors as vital economic engines and employment hubs. We are grateful to our client for having the foresight to invest in the site at the right moment and exit when market conditions were favorable, demonstrating how a long-term strategic approach pays dividends in commercial real estate.
Life Sciences Development
In a separate and equally rewarding project, we assisted a major international client in acquiring more than 24 acres of land intended for the construction of a state-of-the-art manufacturing facility. This project represents more than just an acquisition; it is a transformative investment in the region’s growing life sciences sector.
Beyond securing the land, our team helped negotiate millions of dollars in economic incentives, including tax abatements and Tax Increment Financing (TIF) benefits that will support the development over the next 15 years. These incentives play a pivotal role in offsetting development costs and attracting high-quality tenants and operators. The development is expected to create 40 to 50 full-time positions initially, with a longer-term goal of supporting 300 total jobs by the third phase. With a total investment projected to exceed $100 million, this life sciences facility will be one of the most impactful industrial developments in the region, reinforcing the critical link between real estate strategy and economic growth.
Other Noteworthy Matters
Michael also recently represented a client in the sale of a large office building, a transaction that involved not only the transfer of the real estate asset but also the client’s professional practice. This multifaceted deal was particularly rewarding, illustrating how commercial real estate services can extend beyond physical assets to include business interests, creating comprehensive exit strategies.
In addition, we successfully advised a client through a condemnation proceeding, securing a favorable compensation package while renegotiating a recapture agreement. This outcome improved both the client’s short-term financial recovery and long-term interests in the property, demonstrating how careful negotiation and legal expertise are essential components of maximizing value in complex real estate matters.
Looking Forward
We remain grateful for the trust placed in us by our clients and partners. These recent projects reflect the range and depth of services we offer, from entitlement and acquisition to economic incentive negotiation and strategic disposition, all aimed at maximizing long-term value in an ever-evolving commercial real estate market. If you would like to learn more about any of these transactions or discuss how we can support your next project, please reach out.