Latitude Commercial’s professionals have the expertise required to handle a variety of distressed real estate situations. We have assisted a variety of clients with the management, leasing, selling and/or redevelopment of real estate owned (REO). We are the Chicago area leader in these situations including judicial and non-judicial foreclosures, bankruptcies, court-appointed receiverships, and deeds in lieu. Latitude Commercial has also been brought in to manage, lease, reposition and market the property for sale after the property has become REO.
Latitude Commercial’s fully integrated real estate services provide comprehensive management solutions for owners, lenders and courts including:
- Receivership and Bankruptcy Services
- Loan Workout Strategies for Debtors and Creditors
- Broker Opinion of Values (BOV’s)
- REO, including management, leasing, redevelopment
- Exclusive Agent for the sale of REO and Mortgages
Our experience and knowledge gives us the ability to participate in the legal process with our clients and attorneys. This includes ensuring that the Order appointing a Receiver is adequate in its scope as well as authority. It also allows us to provide the necessary tools for both a smooth transition and the financial flexibility to maintain and create value in the asset.
Latitude Commercial’s Receivership Services include:
- Stabilizing property operations and ensuring tenant retention
- Development and Implementation of the Property Strategic Plan
- Oversight and direction of on-site Property Management Team
- Evaluation and Creation of Marketing, Advertising and Leasing Strategies
- Devising and Implementing an Optimal Exit Strategy
- Pooling managed assets to achieve Economies of Scale for operational efficiencies
Latitude Commercial recognizes that time is money and we take every measure to ensure the transaction is handled professionally and efficiently.