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Masuda Funai provides expert legal counsel in all areas of real estate law. Our attorneys represent domestic and international businesses, investors, lenders, developers, syndicators, construction and property management companies, landlords, and tenants in the full scope of property-related matters across the U.S. Because practically every business transaction today involves a real estate component, it is critical to retain counsel that understand not only the law, but also the underlying business drivers of the matter.

Our firm represents investors, buyers, and sellers in the development, purchase, and sale of real property for headquarters, manufacturing, distribution, logistics and offices. We advise on the design and construction of commercial facilities, multi-family housing, manufacturing plants, and logistics facilities. We also represent our clients on annexations and the procurement of zoning variances, planned unit developments, and special and conditional use permits. In addition, we draft and negotiate all types of commercial leases and assist with the build-out of leased space.

We represent lenders and borrowers in secured financings for commercial, industrial, and residential projects, credit enhancers in leveraged transactions, sale-leasebacks, and other off-balance sheet financings. We also advise on Industrial Development Revenue Bond financings throughout the U.S.

We provide legal counsel regarding the income taxation of real estate, including tax deferred exchanges. We help our clients procure development and economic incentives and advise on ad valorem tax management by challenging tax assessments and obtaining favorable tax classifications for properties such as shopping centers, factories, open spaces, churches, and farms. We work with environmental consultants to develop regulatory compliance and property remediation programs including for manufacturing operations, chemical processing, food production, and brownfield redevelopment.

Our litigators serve as passionate advocates in real estate controversies that include purchase/sale disputes, leasing issues, and ownership disagreements. We have resolved issues and disputes pertaining to design and construction, lease interpretations, environmental contamination, insurance coverage, and boundary and easement irregularities, to name only a few. In addition to our real estate litigation abilities, we employ productive mediation, arbitration, and conciliation efforts that have resulted in swift and favorable outcomes for our clients.

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Range of Services Experience

Experience

Industrial revenue bond financing of a renovated urban mixed-use project for retail and high-end residential use.

Development and procurement of HUD financing for senior citizen housing and skilled nursing care facilities.

Lender representation in a syndicated hotel financing in Dallas, Texas.

Takeover, loan workout and development of a 200+ unit, single family residential development project.

Representation of a residential urban real estate developer in connection with all aspects of its development activities, including financing, organizational structuring, and condominium conversions.

Seller representation in the sale and conversion of a single-user industrial facility into a high-end, multi-tenant commercial facility.

Sale and leaseback of its manufacturing facility for an electronic component manufacturer.

Owner representation of one of the premier thoroughbred racetracks and para-mutual wagering facilities in the United States in connection with the purchase, syndication, financing, operation and sale of the same.

Tenant association representation in the largest tenant acquisition, financing and operation of a subsidized housing project in the United States.

Acquisition of a cold storage facility in New Jersey for a nationwide food processing company.

Assisted an industrial user in obtaining bulk-restriction and height zoning variances for a major manufacturing facility.

Multi-state, multi-agricultural property conduit investment acquisition for foreign syndicated investors.

Site selection, procurement of economic incentives and development of a 90-acre environmentally and archeologically sensitive site in suburban Chicago for the North American headquarters of an international high-tech industrial leader.

$12 million western hemisphere headquarter expansion for international consumer products equipment manufacturer.
$23 million build-to-suit long-term lease for an international bioscience firm.
Build-to-suit lease for a 40,000-sqaure-foot distribution hub in suburban Chicago.
Three hotel commercial condominium conversion and redevelopment.

Purchase of 16 acres of land and development of a 100,000 square foot facility for a foreign metrology and laser machine manufacturer.

$13.3 million turnkey development of a healthcare products distribution center, office and showroom.

Development of Houston, Texas area automotive industry petro-chemical processing facility.
Leasing for a foreign-based retailer of numerous big box locations in connection with its U.S. West Coast initial market entry.
$28 million FHA refinancing of a 500 unit assisted multi-family housing project.

Establishment of a new approximately $90 million state-of-the-art rail rolling stock manufacturing facility in northwestern Illinois.

$32 million design, build and construction project for an international Fortune 100 company in Chicago.

Acquisition of $12.5 million die casting facility in Indiana.

$12 million Greenfield development of 150,000-square-foot linear motor company manufacturing facility.

$5.2 million automotive industry logistic facility purchase in Kentucky.

Acquisition and offshore syndication of a 1,000+ acre citrus production operation in California.

Acquisition of the then largest previously undeveloped tract of land in northern Virginia.

Development of a state-of-the-art metal forming facility in Dayton, Ohio.

Representation of the seller in eight industrial property, $41 million sale to a publicly traded REIT.  

Sale of a foreign owned 275,000-square-foot office building in southern California.

Tax-deferred sale of a regional suburban Chicago shopping center.

Represented clients in numerous transactions that included the negotiation and implementation of Development Agreements and other Infrastructure Agreements in Illinois and other jurisdictions related to the establishment, procurement and use of Tax Increment Financing (“TIF”) and other similar infrastructure financing/incentive programs for the development of industrial use property. Represented clients in the procurement and negotiation of other jurisdiction specific incentives related to the development of industrial use property and infrastructure.

Assisted client with its $1 million investment in a joint venture formed to acquire and operate a retail outlet mall in Little Rock, Arkansas.

Advised a client on its investment in a joint venture formed to acquire and operate a 100-unit apartment building in Las Vegas, Nevada.

Handled a $2.4 million financing of a cannabis manufacturing and warehouse facility in Lompoc, California.

Negotiated a lease for office and warehouse space in Arlington Heights, Illinois for an automotive components manufacturer.

Advised foreign-owned water treatment technologies manufacturer on real estate matters related to the $23 million acquisition of a competitor.

Represented a foreign-owned industrial pump manufacturer in the acquisition of a $4.4 million industrial facility in Salt Lake City, Utah.

Counseled a ­­­­­­­­­­­­client on its investment in a joint venture formed to acquire and operate a $21 million office building in North Charleston, South Carolina.

People

People

Bryan Y. Funai
Principal, Schaumburg
P 847.734.8811
Keith W. Groebe
Principal, Chicago
P 312.245.7500
Timothy J. Hammersmith
Principal, Chicago
P 312.245.7500
Mitchell W. Pollard
Associate, Chicago
P 312.245.7539
John B. Stanis
Principal, Schaumburg
P 847.734.8811
Shinya Yamamoto
Senior Counsel, Detroit
P 248.564.1116
News & Events
Legal Updates/Client Advisories
The Corporate Transparency Act's Impact on Real Estate
The Corporate Transparency Act (“CTA”), enacted in 2021 by Congress, took effect on January 1, 2024. The CTA requires domestic and foreign…
Buying Real Estate in Another State Don't Forget to Consider Qualifying to do Business There
As a general rule, corporations, limited partnerships or limited liability companies that aim to do business in a state other than where…
Real Estate Tax Incentives
Author: Amanda Taylor, Senior Paralegal In the current economic environment, real estate tax incentives may be available and granted by…
The Lack of Clarity Around Extended Lodging, Emotional Support Animals, and the Fair Housing Act
Author: Jake J. Bennett, 2023 Summer Intern The Fair Housing Act of 1968 (“FHA”) prevents discrimination in renting a dwelling due to a…
When a Recorded Document Contains an Error
So, you’ve entered into a contract to sell your house. You’ve made all the repairs, repainted all the walls, and have begun packing. Or…
The Trend Towards Modified Gross Leases and Their Unpredictable Expense Structure
There are three main types of leases for commercial and industrial property: (1) gross lease; (2) modified gross lease; and (3) triple net…
Truck Parking Lease Considerations
Business owners are frequently confronted with shortages or surpluses of vehicle parking spaces at their properties. To address shortages…
Commercial Real Estate Boundaries: Do I Need to Worry About my Neighbor's New Driveway
On occasion, questions will arise regarding the impact of what seems to be a neighboring property owner’s use of your land. It may seem…
Condominium Deconversion Legal Issues
Low supplies and historically high prices of single-family residences for sale have resulted in staggering increases in rent for, and…
Strategic Real Estate Decision Making in 2022
Annually chief corporate real estate officers must make numerous long range planning decisions based upon multiple micro and macro factors…
Unpaid Real Estate Taxes Could Jeopardize Ownership of Your Property
If a property owner fails to timely pay their taxes, the unpaid balance (taxes and penalties) can then be subject to sale to a third party…
Electronic Execution of Documents
Electronic execution of a legal document is a practical, reliable, efficient and effective means of establishing an agreement of parties to…
2021 ALTA/NSPS Land Survey Standards Update
The National Society of Professional Surveyors ("NSPS") has updated the ALTA/NSPS standards for an ALTA ("American Land Title Association")…
Court Rules COVID-19 Order Constitutes Partially Excusing Rent
Most, if not all, governors in the U.S. have issued Executive Orders limiting, or even prohibiting, the operation of certain businesses…
"Made in America" Executive Order Likely to Motivate FDI by Overseas Vendors
Executive Summary On January 25, 2021, President Biden issued his “Executive Order on Ensuring the Future is made in all of America by…
United States District Court in Texas Finds CDC Eviction Moratorium Unconstitutional
In a case just handed down a few days ago by the United States District Court, Eastern District of Texas, Terkel et al. v. Center for…
Court Rules COVID-19 Order Constitutes Force Majeure Partially Excusing Tenant's Rent Obligations
As the COVID-19 pandemic began to unfold in the United States in early 2020, governors across the country issued executive orders forcing…
Could the COVID-19 Pandemic Cause a Long-Term Shift in Lease Strategy and Opportunities?
The COVID-19 pandemic may very well change the outlook on the long-term use and configuration of office space in the United States. The…
Legal Guidance for 2020 CFIUS Real Estate Regulations
Overview On January 17, 2020, the Office of Investment Security of the U.S. Department of Treasury published its final regulations…
UPDATE: Cook County Board Passes Ordinance Allowing Late Payment of Second Installment Real Estate Taxes Due to COVID-19
As a follow up to a prior advisory published on May 21, 2020, the Cook County Board passed Ordinance #20-2479 approving the delay in…
Illinois Legislature Contemplating Post Executive Order Action for Real Estate Matters
Given the changes we see on a daily basis to various States' relaxing of Executive Orders, legislatures are thinking about what happens…
Cook County Board Considers Waiving Late Fees on Second Installment Property Taxes
On May 21, 2020, the Cook County Board of Commissioners will consider a proposal to waive late fees (interest penalties) on the second…
IRS Grants Extensions of 1031 Exchange Deadlines
On April 9, 2020, the Internal Revenue Service released Notice 2020-23 (“Notice 2020-23”), which updates Notice 2020-18, “Additional Relief…
Governor J. B. Pritzker Signs Executive Order Approving Remote Notarization in Illinois
Governor J. B. Pritzker, through COVID-19 Executive Order No. 14 signed March 26, 2020, has approved Remote Notarization in Illinois for as…
Real Estate Considerations and the COVID-19 Virus
The quickly evolving events related to the COVID-19 virus, including the various Executive Orders now being issued by the Federal…
2019 Cook County First Installment Real Estate Tax Bills Due March 3, 2020
The 2019 First Installment Real Estate Tax Bills for Cook County, Illinois are due on Tuesday, March 3, 2020. Please pay your tax bill on…
2018 Cook County Second Installment Real Estate Tax Bills Due August 1, 2019
The 2018 Second Installment Real Estate Tax Bills for Cook County, Illinois are due on Thursday, August 1, 2019. Please pay your tax bill…
No Liability from Void Contract with Union
In May, 2008, Matthew Friedman, a manager of 1550 MP Road LLC (“MP Road”), must have been very pleased. He had just negotiated and signed a…
Buyers, Sellers and Brokers Beware! Your Text Messages Could be Binding
As technology has developed, courts have increasingly been forced to grapple with the question of whether non-traditional means of…
2018 Cook County First Installment Real Estate Tax Bills Due March 1, 2019
The 2018 First Installment Real Estate Tax Bills for Cook County, Illinois are due on Friday, March 1, 2019. Please pay your tax bill on…
Title Insurance Coverage Changes that Relate to Declarations and Development Limitations
Court cases interpreting title insurance coverage originate in various jurisdictions around the United States and are typically relied on…
Recent Developments in Real Property Taxation
It is not very often that cases involving real estate taxation make the news. However, the Illinois Supreme Court recently held that a…
2017 Cook County Second Installment Real Estate Tax Bills Due August 1, 2018
The 2017 Second Installment Real Estate Tax Bills for Cook County, Illinois are due on Wednesday, August 1, 2018. Please pay your tax bill…
2017 Cook County First Installment Real Estate Tax Bills Due March 1, 2018
The 2017 First Installment Real Estate Tax Bills for Cook County, Illinois are due on Thursday, March 1, 2018. Please pay your tax bill on…
2016 Cook County Second Installment Real Estate Tax Bills Due August 1, 2017
The 2016 Second Installment Real Estate Tax Bills for Cook County, Illinois are due on Tuesday, August 1, 2017. Please pay your tax bill on…
2016 Cook County First Installment Real Estate Tax Bills Due March 1, 2017
The 2016 First Installment Real Estate Tax Bills for Cook County, Illinois are due on Wednesday, March 1, 2017. Please pay your tax bill on…
2015 Cook County Second Installment Tax Bills
The 2015 Second Installment Real Estate Tax Bills for Cook County, Illinois are due on Monday, August 1, 2016. Please pay your tax bill on…
2015 Cook County First Installment Tax Bills Due March 1, 2016
The 2015 First Installment Real Estate Tax Bills for Cook County, Illinois are due on Tuesday, March 1, 2016. Please pay your tax bill on…
Foreign Investment in Real Property Tax Act ("FIRPTA") Update
Pending legislation, in the form of United States Senate Bill S. 915 and United States House of Representatives Bill H.R. 2128…
Bulk Sales Act in Illinois
The repeal of the Uniform Commercial Code provisions regarding bulk transfers of the assets of a business may have led purchasers of real…
New Mandatory Foreign Direct Investment Reporting Requirement1
Some may recall that in the past, under certain circumstances, "foreign" investors in the United States were required to report their U.S…
2014 First Installment Real Estate Tax Bills Due March 3
The 2014 First Installment Real Estate Tax Bills for Cook County, Illinois are due on Tuesday, March 3, 2015. Please pay your tax bill on…
2013 Cook County Second Installment Tax Bills
The 2013 Second Installment Real Estate Tax Bills for Cook County, Illinois are due on Friday, August 1, 2014. Please pay your tax bill on…
2012 Cook County Second Installment Tax Bills Due August 1, 2013
The 2012 Second Installment Real Estate Tax Bills for Cook County, Illinois are due on Thursday, August 1, 2013. Please pay your tax bill…
Events
Complimentary Webinar: Opportunities for Foreign Investment in U.S. Distressed Assets and Adaptive Reuse (Webinar in Japanese)
8.4.21
Prolonged low and even negative interest rates, high stock market valuations and volatility, an overabundance of debt and equity investment…
Complimentary Webinar: Opportunities For Foreign Investment in U.S. Student Housing (Webinar in Japanese)
4.20.21
An area of opportunity for foreign investment in the U.S. is student housing near or on U.S. colleges and universities. Finding the right…
Complimentary Webinar: U.S. Real Estate Investment Strategies for Japanese Companies (Webinar in Japanese)
9.10.20
Whether you are a Japanese Company with experience investing in U.S. real estate or just a beginner, this webinar will cover not only the…
News
Tim Hammersmith Authored an Article in ISBA's Newsletter
The article "Case Note: Recent Illinois Appellate Court Analysis of Adverse Possession" is featured in the July 2020 Real Property Edition…
David Alexander Participated in NICAR's First Virtual Lunch Series
On April 16, 2020, David Alexander, Chair of Masuda Funai’s Real Estate Practice Group, participated in NICAR’s (Northern Illinois…
UPDATED MARCH 3, 2020: Cook County Board Suspends Affidavit Compliance Filing Until 2022
Recently, the Cook County (Illinois) Board of Commissioners voted to suspend the annual filing requirements for Class 6b Incentive…
Masuda Funai Represents CCI Manufacturing in Acquisition of Site in Lawrence County, Alabama
For Immediate Release CHICAGO – Masuda, Funai, Eifert & Mitchell, Ltd. represented CCI Manufacturing IL Corporation (CCI) on its…
Masuda Funai Secures HUD Loan for Lake View Towers Residents Association, Inc.
Press Release CHICAGO – Masuda, Funai, Eifert, & Mitchell, Ltd. assisted Lake View Towers Residents Association Inc. to secure a $66.3M…
Masuda Funai Negotiates 61,000 Square Foot Lease for Taiki U.S.A., Inc.
Masuda, Funai, Eifert & Mitchell, Ltd represented Taiki U.S.A., Inc. in the negotiation of an approximately 61,000 square foot lease for…
Masuda Funai Represents Tigerflex Corporation in Sale of Prior Headquarters
Masuda, Funai, Eifert & Mitchell, Ltd. represented Tigerflex Corporation, a hose manufacturing company, in the $2.6 million sale of its…
Masuda Funai Ranked as "Best of the Best" Law Firm in Midwest Real Estate News
Masuda Funai was ranked as having one of the leading real estate law practices in the Midwest in the recent issue of Midwest Real Estate…
Masuda Funai Negotiates 60,000 Square Foot Lease for Toshiba Machine Co., America
Masuda, Funai, Eifert & Mitchell, Ltd. represented Toshiba Machine Co., America in the negotiation of a 60,000 square foot lease for its…
Masuda Funai Hosts Northern Ireland Delegation
Masuda, Funai, Eifert & Mitchell Ltd. hosted the Northern Ireland Delegation on April 16, 2018 as part of its ABC Mission visit to Chicago…
Masuda Funai Represents JENOPTIK in Campus Facility Purchase
PRESS RELEASE CHICAGO - Masuda, Funai, Eifert, & Mitchell, Ltd. represented JENOPTIK Automotive North America, LLC on its purchase of 16…
Masuda Funai Represents Mitsubishi Group Subsidiary in Sale of Headquarters
PRESS RELEASE CHICAGO - Masuda, Funai, Eifert, & Mitchell, Ltd. represented MC Machinery Systems, Inc. in the $5 million plus sale of its…
Masuda Funai Represents ECHO in Headquarter Expansion
PRESS RELEASE CHICAGO - Masuda, Funai, Eifert, & Mitchell, Ltd. is representing ECHO, Inc. in the 49,835 square-foot expansion of its…
Masuda Funai Represents Mitsubishi Group Subsidiary in HQ Relocation
PRESS RELEASE CHICAGO - Masuda, Funai, Eifert, & Mitchell, Ltd. represented MC Machinery Systems, Inc. in all legal aspects of an…
Masuda Funai Represents Sodick in a Build-to-Suit Transaction
PRESS RELEASE CHICAGO - Masuda, Funai, Eifert, & Mitchell, Ltd. is representing Sodick, Inc. in a build-to-suit transaction for a new…
Masuda Funai Represents Okabe in a Build-to-Suit Transaction
PRESS RELEASE CHICAGO - Masuda, Funai, Eifert, & Mitchell, Ltd. is representing Okabe Co., Inc. in a build-to-suit transaction for a new…
Publications
Co-Authored "Could the COVID-19 Pandemic Cause a Long-Term Shift in Lease Strategy and Opportunities" - BizBuddy, August 2020
Co-authored "No Surprises Allowed: Basics of Controlled Expert Witness Disclosure" - Illinois Supreme Court Rule 213(f)(3) in the Illinois Bar Journal, May, 2015 issue
Co-authored: "Real Estate Tax and Government Incentives" and "Site Selection" Chapters, Illinois Institute for Continuing Legal Education's 2004 edition of Commercial Real Estate, updated and republished in 2011
"Survey of Illinois Law, Property" - Southern Illinois University Law Journal, 19 S. Ill. U. L. J. 923, 1995