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Phillip Coover is a partner in Ice Miller’s Real Estate Practice, where he helps clients achieve their goals, find strategic solutions and maximize the value of their real property. Phillip delivers a big-picture approach to complex real estate transactions, with his background as a commercial litigator, business owner and licensed real estate managing broker. Phillip’s primary focus is to help developers bring their visions and dreams to reality—from closing on the dirt acquisition, obtaining construction financing, leasing the asset, to ultimate disposition. He also handles litigation, including foreclosures, commercial evictions, receiverships, business disputes, breaches of fiduciary duty and debt collection.

Because he strives to add value to every transaction, real estate clients trust Phillip to be the sole resource for all their issues, from commercial real estate acquisition and sale, to divestiture, including everything in between such as commercial retail and offices leasing, financing, zoning and land use issues and handling their litigation needs. Phillip has successfully closed hundreds of millions of dollars of commercial property acquisitions, financing (both with complex equity stacks, joint ventures and a myriad of financing options), but also obtained tens of millions of dollars of judgments against adverse parties in litigation. He regularly counsels local and national commercial real estate investment companies, real estate developers, real estate development and brokerage companies, private equity lending companies, property management companies, investors, and business owners on a local and national basis.
 

Phillip is a member of Ice Miller’s Distressed Investments Group (“DIG”). DIG focuses on distressed investment strategies and transactions, including bankruptcy and in-court restructurings, out-of-court restructurings and other insolvency-related transactions. We have significant experience advising clients on loan-to-own strategies, debt restructurings, debtor-in-possession and exit financings, claims trading, distressed real estate acquisitions, section 363 sales, rescue capital deployment and other investment situations. For further details, please check our our webpage.

As a former full-time litigator (and former Chairman of the Commercial Litigation committee of the Chicago Bar Association), Phillip is a natural fit in DIG, where he quarterbacks clients through note sale acquisitions, foreclosing on properties or entire portfolios, collecting debts, evicting nonpaying commercial tenants, pursuing claims in bankruptcy courts, working with and representing court appointed receivers and enforcing debt covenants and other contracts. Even though Phillip is a member of the federal trial bar, he looks for opportunities to resolve matters in arbitration, mediation and settlement conferences before and during litigation to minimize costs and maximize recovery.

Phillip is adept at structuring capital raises, helping investors and promoters navigate building the capital stack and forging joint ventures. He assists developers and fund creators by preparing investment documents, working through securities offering and exemption issues and providing experienced tactical advice, financing (from traditional financing, mezzanine, to short term hard money loans), all during the course of representing single project fund deals as well as large private equity blind funds. Phillip was early in the charge of opportunity zone investments, having created funds and closed on opportunity zone assets since shortly after the law was in effect.

Phillip is the founder and host of the widely popular “Real Estate for Breakfast” Podcast. On the show, Phillip interviews executives, CEOs, brokers, founders, owners, developers, financiers and other real estate professionals of all types about current real estate trends, issues and developments.

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  • Real Estate for Breakfast Podcast: Building the Capital Stack with Trisha Connolly, Managing Director of Alpha Capital CRE, December 4, 2019
  • Real Estate for Breakfast Podcast: How Using Modern Technology in Net Leasing is Changing the Game for Investors with Camille Renshaw of B+E, November 11, 2019
  • Real Estate for Breakfast Podcast: Changing 60,000 Pound Anchors on Nuclear Submarines – and Other Public-Private Partnership Development with Dee Brown, CEO of the P3 Group, Inc., September 24, 2019
  • Real Estate for Breakfast Podcast: Store Closures, Distressed Retail Real Estate, and Receiverships with Matt Mason of Conway MacKenzie, August 8, 2019
  • Real Estate for Breakfast Podcast: Co-Living with Susan Tjarksen of Cushman and Wakefield, July 16, 2019
  • Real Estate for Breakfast Podcast: Finding Space for the Future of Your Business with Jon Milonas of CBRE, May 30, 2019
  • Real Estate for Breakfast Podcast: Large Scale Development and Geographic Expansion with Matt Katsaros of CA Ventures, May 6, 2019
  • Real Estate for Breakfast Podcast: Collete English Dixon of the Marshall Bennett Institute of Real Estate, February 25, 2019
  • Real Estate for Breakfast Podcast: Kevin Bupp, CEO of Sunrise Capital, January 28, 2019
  • Real Estate for Breakfast Podcast: Retail is Alive! Innovations in Retail Real Estate with Marget Graham and Jaime Bertsche of Mid-America Real Estate Group, December 11, 2018
  • Phillip Coover Featured on the Real Estate Investing Cash Flow Podcast, November 29, 2018
  • Real Estate for Breakfast Podcast: Multi-Family Mania with Lee Kiser of Kiser Group, October 18, 2018
  • Real Estate for Breakfast Podcast: Big Data Investments with Todd Stofflet of KIG CRE, September 24, 2018
  • Real Estate for Breakfast Podcast: Opportunity Zones with Bob Waun and Loren Guzik of Pike Street Properties, LLC, August 10, 2018
  • Real Estate for Breakfast Podcast: Dean Marks, Esq. – Sterling Bay, June 27, 2018
  • Real Estate for Breakfast Podcast: ICSC RECon Recap – Tom McGee, June 4, 2018
  • Real Estate for Breakfast Podcast: G. Michael Verden - Security, Protection, and Active Shooters, April 11, 2018
  • Real Estate for Breakfast Podcast: Mike Piper - Student Housing and Tax Incentives, April 6, 2018
  • Real Estate for Breakfast Podcast: Bob Cavoto - Successful Interviewing Strategies, March 13, 2018
  • Real Estate for Breakfast Podcast: Bill Barry - Financing Commercial Real Estate, February 16, 2018
  • Real Estate for Breakfast Podcast: David Moore and The Willis Tower Redevelopment, January 8, 2018
  • Real Estate for Breakfast Podcast: Doug Childers, December 12, 2017
  • Real Estate for Breakfast Podcast: Bob Cavoto Repost, November 20, 2017
  • Real Estate for Breakfast Podcast: Donna Salvatore, October 27, 2017
  • Real Estate for Breakfast Podcast: Andy Koglin, October 2, 2017
  • Real Estate for Breakfast Podcast: The University Club of Chicago, September 17, 2017
  • Real Estate for Breakfast Podcast: Liz Holland, September 1, 2017
  • Real Estate for Breakfast Podcast: Linda Day Harrison, August 11, 2017
  • Real Estate for Breakfast Podcast: Follow-Up Call with Colin Laitner, August 3, 2017
  • Real Estate for Breakfast Podcast: Dan McCaffery, July 19, 2017
  • Real Estate for Breakfast Podcast: Jon Winick, June 26, 2017
  • Real Estate for Breakfast Podcast: Sam Rose, June 13, 2017
  • Real Estate for Breakfast Podcast: Sleeping Bear Capital - Andrew Calcutt and George Freeman, May 25, 2017
  • Real Estate for Breakfast Podcast: Dee G. Coover - Mother's Day Special, May 11, 2017
  • Real Estate for Breakfast Podcast: Bobby Goodman, April 26, 2017
  • Real Estate for Breakfast Podcast: Craig Nadborne - Q1 2017 Chicago Downtown Office Market Report, April 11, 2017
  • Real Estate for Breakfast Podcast: Cyber Security: What Does It Mean for My Business?, March 28, 2017
  • Real Estate for Breakfast Podcast: Bob Cavoto, March 22, 2017
  • Real Estate for Breakfast Podcast: David Haigh, March 7, 2017
  • Real Estate for Breakfast Podcast: Steven Spinell, February 22, 2017
  • Real Estate for Breakfast Podcast: David Stone, February 7, 2017
  • Real Estate for Breakfast Podcast: Colin C. Laitner, January 26, 2017
  • Real Estate for Breakfast Podcast: Robert Walters, Part 2 of 2, January 26, 2017
  • Real Estate for Breakfast Podcast: Robert Walters, Part 1 of 2, January 26, 2017
  • Real Estate for Breakfast Podcast: C. Michelle Panovich, January 26, 2017
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