Larry Adelson brings his extensive experience in transactional, business restructuring and real estate law to Chico and Nunes, P.C.  Mr. Adelson has acquired and sold companies, ongoing real estate operations and real estate properties. Mr. Adelson has held senior management positions in a wide range of industries, including commercial timberlands, real estate, railroads and high tech manufacturing. His legal background includes involvement in a number of troubled business restructurings, including the Milwaukee Road Railroad and Heartland Technology, Inc. He has also handled major valuation and condemnation cases. 

At Chico & Nunes, Mr. Adelson counsels clients on real estate, corporate structure and finance issues. He has successfully renegotiated loans on behalf of both borrowers and lenders. He represents lenders in collection matters and court-appointed Receivers in foreclosure cases. He has advised education clients, both K-12 and higher education.  Mr. Adelson was Chief Executive Officer of CMC Heartland Partners, a publicly listed real estate partnership. He has also been Chairman and Chief Executive Officer of Heartland Technology, an AMEX-listed electronics manufacturing company, and VP-General Counsel of Chicago Milwaukee Corporation, a NYSE-listed investment company. While at CMC Heartland Partners Mr. Adelson redeveloped rail yards into significant projects in Chicago, Illinois, including Kinzie Station, a 2,000 unit, master-planned mixed-use community in the West Loop; and Goose Island Business Park, a 25-acre commercial joint venture. Mr. Adelson has worked on other redevelopment projects that transformed properties into residential communities in Rosemount, Minnesota and Fife, Washington and commercial and retail developments in Chicago, Illinois, Minneapolis, Minnesota and Milwaukee, Wisconsin.  Mr. Adelson is a licensed real estate broker in Illinois and has been licensed as managing broker in Illinois, Minnesota and Georgia. He has successfully redeveloped land with environmental problems for residential and commercial uses.

Mr. Adelson has been Chairman or President of a number of civic organizations including the West Central Association (Chicago), the Menomonee Valley Business Improvement District (Milwaukee, WI) and Giordano Jazz Dance of Chicago. He is a member of Lambda Alpha and is listed in Marquis' Who's Who in America.

Bankruptcy/Restructuring:
       

• Milwaukee Road Railroad -- represented Trustee in successful reorganization of Class 1 railroad.
• Heartland Technology, Inc. -- negotiated prepackaged liquidation plan under Chapter 11 for publicly traded electronics manufacturer.
• CMC Heartland Partners -- American Stock Exchange-listed real estate partnership. Paid secured creditors, made cash distributions to partners, set up liquidation trust and hired trustee.

Recent Restructuring Assignments

• $41 Million hotel loan modification
• Buy-out of minority owner of large, diversified, privately-held business group
• Wind up and dissolution of joint venture of two sales agencies
• Disposition of jointly owned intellectual property rights
• Set up and qualification of multi-state entity to run off assets of debt collection firm

Representative Real Estate Transactions:

• Kinzie Station in Chicago's West Loop. Negotiated Planned Development, Tax Increment Financing, and air rights for 2,000 residential units, public parklands and 80,000 square feet of retail space including a Jewel/Osco supermarket for former rail yard.  Built and sold 25-story high rise condominium building as first phase of Kinzie Station. 
• Structured land exchange and reciprocal operating agreements with state and local government agencies for 140-acre property next to Miller Park baseball park in Milwaukee, WI. Created access to I-94.
• Redevelopment plan and sale of Amtrak depot in Milwaukee, WI, to Wisconsin Department of Transportation.
• Joint venture development of 250,000 square foot business park on Goose Island, Chicago, IL.
• Negotiated annexation and rezoning of a Tacoma, Washington rail yard for 900 homes and auxiliary retail, commercial and recreational uses.

Recent Transactional Assignments

• $27 Million multi-state acquisition of franchised fast food stores.
• $40 Million multi-state sale-leaseback refinancing of charter school facilities
• Construction documents for $17 million school construction project

Admissions: 

• Illinois
• Wisconsin

Education:

• J.D., Harvard Law School, Cambridge, MA (1975)
  Editor, Harvard Law Review (1973-75)
• B.A. (Highest Honors), University of Michigan, Ann Arbor, MI (1972)
• Student at Large, University of Chicago, Chicago, IL (1970)