To appropriately protect the asset, Northline Property Group will seek to stabilize the distressed entity by recognizing and repairing the practices that created the reasons for establishing the Receivership. The objective will be to manage the receivership property professionally, responsively, aggressively, and proactively to stabilize the asset and maintain the value of the property throughout the receivership period. Past assignments included downtown high-rise office buildings, retail centers, multi-family apartment properties, and more. Our service area includes Downtown Chicago and all of Cook, DuPage, Will, Kane, McHenry, and Lake Counties.

clients include:

• Harris Bank         

• Illinois Service Federal Bank

• Byline Bank                   

• Colliers International

• First American Bank     

• Capital Crossing Servicing Company

The primary objective of receivership is to secure the physical asset, accounts, and records to protect and preserve the integrity of the asset on behalf of the court. The duties of the receiver parallel that of a property manager…

Additionally, the receiver is also responsible for further functions beyond that of a typical property management assignment. Some of these additional responsibilities include:

• Act with third party independent control as a fiduciary of the court

• Maintain an extensive understanding of the legal process as it relates to the receivership and foreclosure process

• Facilitate any special banking needs of the receivership

• Generate reports tailored to the needs of the court and secured creditors

• Aid with the leasing of a property

• Help with the disposition of a property

• Full cooperation after the receivership period to continue the stabilization of the property