Scott B. Toban
Areas of Focus
Real Estate Industry
Real Estate Services
, University of Chicago Law School
, University of Illinois at Urbana-Champaign
U.S. District Court, Northern District of Illinois, 1995
State of Illinois, 1995
Scott Toban draws from a diverse background that allows him to view real estate transactions through the client’s lens, and to structure deals that reflect attention to countless moving parts and a keen eye for avoiding potential roadblocks. Clients grow to rely on Scott's focus upon their most critical issues, benefiting from the practical approach he draws from his combination of legal, business and state disciplinary board experiences. Scott regularly represents developers, investors, brokers, property managers, insurance companies and financial institutions on matters broadly ranging across the real estate spectrum, including:
Financing (representing both lenders and borrowers)
Construction and development
Office and retail leasing
Regulatory and compliance matters
Real estate brokerage policies and operations
By appointment of Illinois Governor Pat Quinn since April, 2010, Member of two boards advising the Illinois Department of Financial and Professional Regulation on matters related to real estate brokerage and licensing:
Illinois Real Estate Administration and Disciplinary Board
Real Estate Education Advisory Council
Honored as 2011 Educator of the Year by Association of Illinois Real Estate Educators
American Bar Association
Real Estate Section National Association of Realtors
Illinois Association of Realtors
Northern Illinois Commercial Realtors Association
Urban Land Institute
Represented U.S. real estate investor and operator acquiring newly constructed 344-unit multifamily apartment complex in downtown Stamford, Connecticut. Advised on acquisition, construction diligence, mortgage financing and joint venture with subsidiary of publicly traded Israeli insurance company.
Represented U.S. real estate investor and operator acquiring Long Beach, California City Hall building for mixed-use urban loft development. Advised on acquisition, development joint venture, and construction financing.
Represented U.S. real estate investor and operator on acquisition and financing of multifamily apartment buildings for value-add investment in multiple locations including: - Portland, Oregon (202 residential units) - Houston, Texas (320 residential units) - Plano, Texas (300 units)
Represented U.S. real estate investor and operator on refinance of Miami, Florida 174 unit apartment building undergoing unit and amenity upgrades and conversion of retail space to modern residences.
Represented commercial office leasing broker on development of form employment agreements, commission agreements and other documents satisfying regulatory compliance requirements.
Represented real estate investor and operator on development and implementation of broker licensing compliance in connection with management of affiliated multifamily properties in various U.S. locations.
Represented single-family residential real estate investor forming licensed broker subsidiary and establishing nationwide compliance programs for acquisition, sales, leasing and property management functions of multiple affiliates.
Represented U.S. life insurance company on multiple mortgage loan transactions, including: - $79 Million financing of 16-story office tower in West Loop area of Chicago, Illinois - $47 Million financing of 304-unit, 25-story luxury multifamily tower in River North area of Chicago, Illinois - Financing of multiple mixed-use apartment buildings in Minneapolis, Minnesota
Represented turnaround investment company acquiring, operating, or liquidating distressed businesses and related real estate in locations including Florida, Georgia, Illinois, Iowa, Michigan, New Hampshire and Ohio.
Represented mutual life insurance company on disposition of REO properties in Indiana, Missouri and Texas, including resolution of borrower bankruptcy disputes and potential purchaser litigation.
Represented single tenant real estate investor on financing of portfolio properties.
Represented landlords and tenants in negotiation of office leases in Chicago, Illinois.
Publications & Presentations
10 Legal Issues on the Multifamily Radar…In 10 Minutes
Marcus & Millichap/IPA Multifamily Forum: Chicago, Speaker
April 6, 2016
Polsinelli Strengthens Real Estate Capabilities With Strategic Hire Scott Toban
October 1, 2015
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