Real Estate

Working closely with our domestic and multinational clients, Masuda Funai Real Estate Group attorneys build lasting relationships and communication patterns, which foster client comfort and confidence in our capacity to serve as their real estate advisors and legal representatives. The Group is staffed by an optimal balance of attorneys, providing cost-effective and efficient service and the responsiveness that our clients appreciate.

Masuda Funai Real Estate Group attorneys provide comprehensive counsel and assistance relative to investing in, financing, developing and leasing commercial, retail, industrial, recreational, agricultural, lodging and residential properties. We work with our clients on site selection, due diligence, contract negotiations, financing, procurement of economic development incentives and real estate tax management. Our Real Estate Group attorneys also practice extensively in title insurance defense, landlord tenant disputes, real estate work-outs, construction, eminent domain, ad valorem tax exemptions and assessment challenges and environmental regulatory compliance and remediation.

Our clients are high tech and heavy industrial manufacturers; distributors, transporters and shippers; developers; condominium and owner associations; architects and contractors; governmental authorities; title insurers; lenders, portfolio investors and tax-exempt organizations.

If you have any questions or would like further information about Masuda Funai's Real Estate practice, please contact the Group's  chair, Keith W. Groebe, at 312.245.7500 or via e-mail at

The following are some of the principle services provided by the attorneys in the Real Estate Group.

Acquisition and Disposition. We represent buyers and sellers in the purchase and sale of all types of real property and facilities, including large and small properties for headquarters or less complex office facilities, manufacturing, distribution, warehousing, freight forwarding, and residential and retail development projects.

Construction. We represent clients in connection with the design and construction of manufacturing, retail, research, commercial, distribution and entertainment facilities, multifamily and single family housing and lodging. In addition, our attorneys assist clients in connection with annexations and procurement of zoning variances and changes and special and conditional use permits.

Development and Site Selection. Our experience in site selection, due diligence, planning and governmental entitlements permits the Group to effectively represent and counsel our clients in the pre-construction and development stages of a project. Recently, Masuda Funai attorneys counseled an international high tech leader in the development of a 90-acre North American headquarters on an environmentally and architecturally sensitive site and procured economic development incentives, job training assistance and real and personal property tax abatements in Indiana and Illinois for several industrial clients.

Eminent Domain. We regularly represent both landowners and condemning authorities in eminent domain proceedings and negotiations.

Environmental. We assist our clients and work with environmental consultants to develop regulatory compliance and property remediation programs. Our attorneys have represented large automotive industry manufacturers in the greenfield development of new facilities in Ohio, Indiana, Kentucky, Tennessee, North Carolina, South Carolina and Texas.

Financing. We represent foreign and domestic real estate lenders and borrowers in connection with real estate secured financings for commercial, industrial and residential projects. We also represent credit enhancers in leveraged transactions, public and securitized financings, sale-leasebacks and other off-balance sheet financings.

Industrial Revenue Bonds. We represent clients in Industrial Development Revenue Bond financings throughout the United States.

Leasing. The Group regularly represents clients in the drafting, revising and negotiating of office, manufacturing, distribution, warehouse, freight forwarding and retail leases. We have advised countless businesses in connection with the leasing and build out of rental properties throughout the United States, ranging in size from thousands to hundreds of thousands of square feet.

Litigation. We have extensive experience in handling real estate related litigation, such as breach of contract, title insurance coverage claims and defense matters, landlord-tenant disputes, mechanics lien claims and mortgage foreclosures.

Taxes. We assist clients with the reduction of their real estate ad valorem tax burdens by challenging real estate tax assessments and obtaining favorable tax classifications for properties such as shopping centers, factories, open spaces, churches and farms. We also assist clients in minimizing income taxes with tax deferred exchanges and other appropriate tax planning.

David J. Alexander
Office: Chicago
Phone:  312.245.7500

Ryu Fukuyama
Office: Chicago
Phone:  312.245.7481

Keith W. Groebe
Office: Chicago
Phone:  312.245.7500

Timothy J. Hammersmith
Office: Chicago
Phone:  312.245.7500

Joji Kagei
Office: Los Angeles
Phone:  310.630.5900

John B. Stanis
Office: Schaumburg
Phone:  847.734.8811

  • Major international corporation representation in the sale of a 275,000-square-foot office building in California

  • Procured economic development assistance, job training assistance and real and personal property tax abatements and other incentives in Indiana, Tennessee and Illinois for industrial manufacturing and wholesale warehouse/distribution companies

  • Seller representation in the disposition of a premier public and private golf course property in the state of California

  • Seller representation of 40 acres of land encumbered with a long-term ground lease and used in connection with a nationally recognized amusement facility

  • Seller representation in the disposition of a premier public and private golf course property in California


    • International Council of Shopping Centers' Annual Law Conference Roundtable Leader (2014, 2015 and 2016)

  • Approximately $23 million build-to-suit and long-term lease for an international bioscience firm in suburban Chicago

  • Acquisition of $12.5 million die casting facility in Indiana

  • Represented one of the world's largest manufacturers of rolling rail stock in connection with its establishment of a new approximately $40 million state-of-the-art rail rolling stock manufacturing facility in northwestern Illinois, which when completed would employee as many as 400 persons and represent a historic return to the state of railcar manufacturing.

  • Represented a promoter in the acquisition and offshore syndication of a 1,000+ acre citrus production operation in California.

  • Represented the tenant association in the largest tenant acquisition, financing and operation of a subsidized housing project in the United States.

  • Represented an investor in a multi-state, multi-property conduit investment acquisition.

  • Represented nationwide food processing company in the acquisition of a 25,000-square-foot cold storage facility in New Jersey.

  • Represented a lender in a syndocated hotel financing in Dallas, Texas.

  • Represented a lender in the takeover, loan workout and development of a 200+ unit, single family residential development project in northeastern Illinois.

  • Representation of a residential real estate developer in connection with all aspects of its development activities, including financing, organizational structuring, and condominium conversions.

  • Represented a purchaser in the acquisition of the then largest previously undeveloped tract of land in northern Virginia.

  • Represented a seller in the sale and conversion of a single-user industrial facility into a multi-tenant facility in suburban Chicago.

  • Represented an owner in the development of a state-of-the-art metal forming facility in Ohio.

  • Representation of corporate clients in the successful challenging of real estate tax assessments and procurement of real estate tax exemptions.

  • Represented an electronic component manufacturer in the sale and leaseback of its manufacturing facility.

  • Represented large automotive industry manufacturers in the greenfield developments of new facilities in Ohio, Indiana, Kentucky, Tennessee, North Carolina, South Carolina and Texas.

  • Represented the owner of one of the premier thoroughbred racetrack facilities in the United States in connection with the purchase, syndication, financing, operation and sale of the same.

  • Represented a borrower in the industrial revenue bond financing of a renovated urban mixed-use project for retail and high-end residential use in suburban Chicago.

  • Represented a community organization in the development and procurement of HUD financing for a state-of-the-art senior citizen housing and a skilled nursing care center.

  • Represented a closely held manufacturing client in the acquisition of a manufacturing facility and related industrial revenue bond financing for the same.

  • Assisted an industrial user in obtaining bulk-restriction and height zoning variances for a major manufacturing facility in Illinois.

  • Assisted in the tax-deferred sale of a regional suburban Chicago shopping center.

  • Site selection, procurement of site incentives and development of a 90-acre environmentally and archeologically sensitive site in suburban Chicago for the North American headquarters of an International high-tech industrial leader

  • Represented numerous manufacturing and warehouse/distribution companies in the purchase, development and leasing of facilities ranging in size from 10,000 to 500,000 square feet.