By Christian G. Spesia Inherent in condemnation cases is the need to prove the fair market value of the property being taken. This is usually accomplished in the reports of licensed real estate appraisers through the use of “comparable sales,” or rather the sale of properties that are similar enough the property being condemned to show a reliable measure of value. It makes senses. If you want to know what an apple is worth, compare it to the ... Read More
Spesia & Taylor Guides Municipal Client in Purchase of Commercial Property for Redevelopment
The attorneys at Spesia & Taylor assisted a Municipal client in the acquisition of multiple commercial properties for a commercial redevelopment project near a METRA train station. Using their expertise in Municipal Law and in Commercial Real Estate, Partner Chris Spesia and Senior Associate Gabe Orenic handled all aspects of the acquisitions, including the ordinances authorizing the purchases, the negotiation of favorable contract terms and ... Read More
Special Service Areas and Special Assessment Areas – A Growing Trend In Financing Of Public Improvements For New Construction
In the late 1990's, two changes in the law combined to create an easier, cheaper source of capital that Developers can utilize to fund various public purpose infrastructure improvements in residential and other developments. This procedure essentially allows Developers to use tax-exempt public financing to defray traditional development costs by assessing the ultimate property owner for certain infrastructure improvements. This article will ... Read More
