In 2008, the highly regarded Illinois law firm of Meltzer, Purtill & Stelle LLC was at a crossroads. Like most firms with substantial real estate practices, many of its clients were struggling to remain afloat.
For years, lawyers with the 25-lawyer firm had successfully represented real estate developers and financial institutions. But by 2008, “Every one of our developer and construction lender clients was running into serious problems with stalled developments,” recalls partner Brian Meltzer.
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