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Jay Gilbert

Of Counsel

Jay concentrates his practice in the areas of structuring, negotiating, documenting and consummating business and real estate transactions.

Prior to joining the firm, Jay had his own law office after 15 years (the last eight years as a partner) with the Chicago law firm of Rudnick & Wolfe (now DLA Piper). In addition to other types of commercial real estate, from the outset of his practice he also has been actively involved in the affordable housing field, where he has represented developers, not-for-profits, investors, lenders, servicers, contractors and housing authorities. Projects have included subsidized and non-subsidized rental and “for sale” housing. Transactions have typically involved layered financings with various combinations of federally insured loans, state agency loans, loans from municipalities and local housing authorities, tax increment financing and other grants/loans. Equity has been obtained from the syndication of low-income housing tax credits (with and without tax-exempt bonds) and historic tax credits.

Since 2002 Jay and his colleagues in the Chicago office have been the principal outside real estate counsel for the Chicago Housing Authority in connection with its Plan for Transformation. Jay has more than 35 years of experience with the acquisition, disposition, financing and operation of single-family and multifamily residential real estate. He has extensive experience with HUD’s mortgage insurance, direct loan, rent subsidy, public housing and neighborhood stabilization programs.

In the business transactions field, Jay has been involved in the structuring, formation and on-going representation of joint ventures, general and limited partnerships, limited liability companies, and for-profit and not-for-profit corporations. He has handled acquisitions (asset purchases, stock purchases, stock-for-stock exchanges and mergers) and dispositions of businesses and various types of business financings. He also has handled various types of shareholder agreements, including voting trusts, restrictive stock agreements and buy-sell agreements.