Tom Moffitt helps his real estate clients – developers and investors, landlords and tenants, lenders and borrowers – successfully complete deals and come out on top. He negotiates and drafts leases across the country for industrial, retail, office and mixed-use space, ranging from big box anchors to small shops, offices to large industrial buildings. He puts together acquisitions and dispositions of developed and undeveloped properties, working with lenders and borrowers to finance transactions, document loans, and structure workouts of troubled assets. He prepares construction contracts, counsels on construction disputes and advises developers and property owners on a broad range of land use matters, including zoning modifications, subdivision approvals and annexation agreements.
Tom give his clients the tools they need to adapt to today’s evolving economic landscape. He counsels owners and investors in the deconversion of condominiums to apartments, and guides landlords seeking to design and implement alternative uses for retail space. Through his experience representing banks and other financial institutions, Tom brings a valuable perspective to his corporate and real estate clients on lender requirements with respect to various financing transactions. Similarly, his lender clients appreciate his understanding of the issues and complications that produce push-back from borrowers.
Tom represents corporate and developer clients in the resolution of a variety of real estate and contractual disputes. He has an extensive litigation background, handling mechanic’s lien claims, specific performance and quiet title actions, tax deed proceedings and other matters, including favorable jury verdicts. He has also argued a number of cases before the appellate court.
In addition to his real estate practice, Tom works with small and middle-market companies to streamline operations, eliminate risk and resolve disputes. In the case of entrepreneurs and startups, he provides guidance on business formation and company structure. With middle-market companies, he handles a variety of operational issues, including business sales and acquisitions.
Education & Credentials
Education
DePaul University College of Law
J.D., 1981University of Notre Dame
B.A., 1977Bar Admission
Prominent Assignments
- Representation of a developer in obtaining zoning and other municipal approvals for a six-story, 225-unit apartment building, with 10,000 square feet of retail space on the first floor, to be constructed in the downtown of a northwest suburb of Chicago. The transaction involved an assemblage of eight different properties, improved with various commercial buildings which will be demolished to clear the site for the project, requiring more than $50,000,000 in construction financing.
- Closing a sale-leaseback transaction of five industrial buildings located in Michigan, Ohio and Indiana containing over 1,300,000 square feet of space. The sales price was in excess of$80,000,000. Tom’s client operated steel businesses in the buildings, sold the real estate to a REIT, leased it back from the purchaser, and continued its business operations in the properties.
- Representation of another developer in the ground-up development of a grocery-anchored power center in Georgia, including negotiation of leases with the grocery operator and a number of other big box retailers.
- Negotiated municipal approvals and an agreement with adjoining owners to modify restrictive covenants to allow a former big box retail building to be used for a non-retail use (food processing and distribution).
Court Admissions
- U.S. District Court-Northern District of Illinois (1981)