Vedder Price

Pearl A. Zager

Shareholder

222 North LaSalle Street Chicago, Illinois 60601

+1 (312) 609 7548

Pearl A. Zager

Shareholder

Pearl A. Zager is a Shareholder at Vedder Price and a member of the firm’s Real Estate and Land Use group.

Since 1979, she has handled a wide variety of commercial real estate development, acquisition, disposition and leasing transactions covering all asset types: apartments, office, industrial, retail, hotel, and residential and commercial condominiums. Ms. Zager's clients value her efficiency and pragmatic approach to resolving issues.

Ms. Zager has extensive experience in construction and permanent financing including various government programs sponsored by the U.S. Department of Housing and Urban Development, the Illinois Housing Development Authority and USDA-Rural Development. She also represents borrowers and lenders in bond financing and securitization mechanisms.

Ms. Zager counsels real estate clients on structuring limited liability companies, joint venturers and other real estate development entities. She also structures forward and reverse tax-deferred exchanges and other tax-advantaged matters.

In addition to representing real estate developers and investors, Ms. Zager handles the real estate and transactional needs of a wide range of businesses, from small family-owned businesses to publicly traded companies. They span a variety of manufacturing, distribution, retail and service industries. She also works with non-profit organizations on housing and land acquisition matters.

Ms. Zager has been selected by her peers as a Leading Lawyer in Real Estate: Commercial from 2011 to 2017, and in Real Estate: Finance from 2012 to 2017.

Ms. Zager is the former chair of the firm’s Real Estate and Land Use group. Ms. Zager has served on the board of directors and various committees of the Women’s Bar Association, Women in Management, and Commercial Real Estate Executive Women of Chicago (CREW) and the advisory board of Little City Foundation. She has been active in the YWCA Circle of Friends, Chicago Real Estate Education Initiative and various parent-teacher organizations for her children’s schools.

Pearl A. Zager

Shareholder

Experience

Representative Clients:

  • Lawson Products, Inc.
  • Bankers Life and Casualty Company
  • McDonald’s
  • Double 8 Hospitality LLC (hotel group)
  • Rooftree LLC (low-income housing owner)
  • Prism Development Company
  • Wintrust Financial Corp.—Managed Assets Division and Purchased Assets Division
  • Bank of America
  • Fifth Third Bank
  • Bridgeview Bank Group
  • The Lester and Rosalie Anixter Center

Representative Transactions

  • Represented developer in option, development agreements, entitlements, equity and debt financing, and sale of luxury residential condominium project in mixed-use building on the Gold Coast.
  • Represented corporate client in acquisition, construction and financing of 12 acres of property in DuPage County developed as an office, restaurant and retail complex.
  • Represented seller of 113,000 SF office building and 7,700 SF garage in River North area of Chicago in sale to government agency.
  • Represented financial institution in acquisition of land and development of branch bank and multi-tenant retail strip center.
  • Represented developer of 15 acre industrial condominium development in Kendall County in acquisition and financing plus leasing of retained units.
  • Represented manufacturing client in acquisition of 56 acres of land in Will County, financing and construction of 73,000 SF addition to existing plant/office, cross-easements for rail and other access with neighboring property owners, and development incentives from the municipality.
  • Represented manufacturing client in sale and leaseback of 150,000 SF facility in south suburban Cook County. Leasing
  • Represented pension fund of landlord of 570,000 SF building in Washington, D.C. in new leases, lease renewals and lease defaults.
  • Represented tenant in new lease in Chicago of over 200,000 SF and termination of two existing leases to facilitate relocation of combined operations. Subsequently represented tenant in sublease of over 200,000 SF and new lease of 130,000 SF completed in 60 days.
  • Represented foreign-owned equipment vendor in leases of office and showroom space throughout the U.S., ranging from 5,000 SF to 50,000 SF. Finance
  • Represented lender in sale of distressed student housing project on university campus financed with $54 million tax-exempt bond issue.
  • Represented senior lender in bankruptcy sale of Chicago office building acquired by junior lender and financing for junior lender.
  • Represented lender in sale of $28 million loan secured by partially developed retail center in Chicago metro area and conditional financing of acquisition and future development. •Represented hotel group borrower in $75 million refinancing.
  • Represented multi-family residential owner in prepayment of government loans and conventional refinancing for multiple projects throughout Midwest.

Pearl A. Zager

Shareholder

Education

  • University of Wisconsin Law School, J.D., 1979
  • Florida Atlantic University, B.S., 1976, with honors

Pearl A. Zager

Shareholder

Bar Admissions

  • Illinois, 1980

Affiliations

  • Member, National Network of Commercial Real Estate Women (CREW)
  • Member, American Bar Association

 

Pearl A. Zager

Shareholder