Each year, Midwest Real Estate News honors the top CRE professionals in its Midwest Real Estate Hall of Fame issue. This year, we are showcasing these award winners each week online. Today, we look at the busy career of David Arnburg, partner with Chicago’s Gould & Ratner.
Commercial real estate can be an emotional business. David Arnburg, partner at Chicago law firm Gould & Ratner, has often been the voice of reason for developers and investors in the Chicago area, helping these professionals make the best decisions and close the biggest deals.
Just consider the number $3 billion. That’s the aggregate value of Arnburg’s counsel to his clients in several high-profile closings since the 2009 real estate market downturn and recovery.
It’s clear that Arnburg has been a valuable partner to his CRE clients. He has advised these clients as they’ve closed major deals for the acquisition, financing, sale, lease and management of several of Chicago’s most iconic office buildings.
A look at Arnburg’s big-name clients is evidence of the major role this legal veteran has played in the Chicago CRE industry. He represents 601 W Companies, one of America’s busiest private real estate companies and the new owners of the long-vacant Old Chicago Main Post Office. Arnburg advises 601 W on a variety of matters relating to its $1 billion restoration and leasing of the historic structure, as well as the leasing and development of the company’s other Chicago properties, which include Aon Center, Civic Opera House, Sullivan Center, 550 West Jackson and One North State.
Arnburg’s “property portfolio” of experience includes many other major and prominent commercial buildings in Downtown Chicago, including 600 West Chicago, Illinois Center, 55 East Monroe, 222 North LaSalle, 180 North LaSalle, 211 West Jackson and the Riverside Plaza buildings (10,120 and 222 South Riverside).
And if those buildings aren’t iconic enough? Arnburg also served as local counsel for the group that acquired the Sears Tower (now Willis Tower) in 2004, which included $825 million of securitized mortgage and first- and second-level mezzanine financing.
During the past several years, Arnburg has assisted clients with leasing more than 2 million square feet of commercial office space. He represents owners, developers and lessees of commercial and industrial real estate, helping them navigate legal issues related to the leasing, operations and management of their large commercial office buildings in Chicago and across the nation.
