9501 W. 144th Street, Suite 205, Orland Park, IL 60462
Call Us708-448-8141
Sosin, Arnold & Schoenbeck Ltd.
9501 W. 144th Street, Suite 205, Orland Park, IL 60462
Call Us708-448-8141
Recent blog posts

Orland Park zoning entitlements attorneyBusiness operations, in the popular imagination, are at times misleadingly straightforward. The suggestion is often that bringing a business to fruition is a matter of idea generation, capital acquisition, and a whole lot of work. While these three aspects are typically cornerstones of a successful business, there is much more that goes on behind the scenes. 

For Illinois businesses that intend to operate in a traditional physical location, whether a building, warehouse, mall, outdoor facility, or other area, it is imperative that every legal right necessary to the short and long term operations and existence of the business be secured by a qualified Cook County zoning and land use attorney.  

Zoning Entitlements Include Easements, Covenant, Declarations, and Other Solutions

If you have never read the words “zoning entitlements” once in your entire life, there is no need to panic. The business world is full of professionals, including business law attorneys who specialize in even the most arcane of concepts and issues to help your business succeed. Business is not purely future-oriented; it inherently implicates history when a physical location is concerned. 

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Illinois limited liability company LLC attorneyThe advent of the Limited Liability Company (LLC) has been a wonderful thing for many business owners. As a business entity, an LLC differs from others, such as a Corporation or General Partnership, in a variety of ways. Most importantly, an LLC protects the individuals that own it from being personally liable for debts assumed by the business. 

Such liability protection is an extension of core principles of capitalism, which seeks to encourage economic competition. Without risk, competition cannot thrive; it is what motivates businesses to produce and market the best products and services and thereby earn profits. This fundamental tenet of the American capitalistic economic system underlies the very existence of the LLC.  

It takes courage (and a whole lot of work, as any business owner knows) to start a small business and to give it everything you have in competing in an existing market or, with enough ingenuity, creating a new market altogether. Beyond guts and your own valuable time, a new business requires capital, whether in the form of a bank loan or funds from investors. Of course, your business must pay back these debts. This duty is where the LLC has very important ramifications.

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Orland Park Real Estate Zoning AttorneyIn the popular classic board game Monopoly, the rules are simple; buy real estate properties and profit from rent collected on those properties. If you can corner the market, you will be in a position to raise rents. If you fall into a perilous financial position, you can mortgage a property in exchange for liquid cash when it is a more pressing need than equity. 

It is both surprising and amusing that is this basic set of rules, learned by children at kitchen tables from generation to generation, is often among the earliest financial knowledge acquired. We learn about property values, rents, mortgages from the game, but notice that there are no rules pertaining to the zoning of real estate. That element of real estate ventures has already been taken care, evidently, with the board’s properties, from low-rent to high-rise, already ready for business.  

Monopoly is a fun game, and it arguably even contains some helpful lessons and basic truths, but in real life, real estate is vastly more complex. It is precisely because of this complexity that you must diligently work and plan to comply with every applicable zoning law and other regulations with regard to real estate business ventures.

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Cook County business formation lawyerStarting a business is an exciting undertaking. There is the sense of ownership, the satisfaction that comes from working for yourself, the ability to profit, and, at every turn, the opportunity to learn. With excitement comes responsibility, however, and it is important to maintain compliance with incorporation formalities required under state law.

Not every business’s operations, needs, and goals are the same and, as such, it is critical that you choose to formally assume the type of business entity that is the right fit for your company. In doing so, you will need to consider tax benefits and burdens, liability issues, and the ownership and control of the business. There are important consequences to be aware of with regard to general partnerships and joint ventures, and key differences to understand with regard to traditional corporations, “S-Corps,” and Limited Liability Companies.

Incorporation Affects Corporate and Personal Liability

A fundamental precept of capitalism you are most likely aware of is the encouragement of business by rewarding the risk inherent in entering the marketplace. As the term capitalism suggests, much of the risk involved concerns the capital investment at the heart of every business. This capital, in the form of cash and other securities, may be provided by yourself, family, friends, angel investors, venture capitalists, or a combination of sources.  

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