Lender Services
Our Services
Why Lenders Choose Root
Root is the choice for lenders who desire optimal recovery rates and an innovative service provider they trust. Root Realty has been involved in distressed real estate since the 1980s. In 2009, Root became the choice for lenders who desired optimal recovery rates and wanted to work with a cutting edge service provider they could trust.
By taking a solutions based approach with lenders, borrowers, and tenants we found success. By working on finding solutions, the lenders Root worked with achieved above average recovery rates and knew they had a partner they could trust. Our clients include local and national banks, private equity funds, trust and estate departments, municipal courts, and non-profits.
Lender Services
Sample Cases
32 Unit Apartment Building in Rogers Park
Root was appointed as the Receiver in a case for the Circuit Court of Cook County involving a thirty two unit multi-family asset in Chicago. Root established a rent roll, leased up vacant units, cured city violations, and oversaw maintenance. Once the foreclosure was complete Root was hired by the Regional Bank to handle REO management and to market the property for sale. The property was sold and the lender’s recovery was optimal.
West Side Portfolio
Root was appointed as the Receiver to manage a portfolio of multi-family properties located throughout Chicago. Root’s fully integrated suite of services enabled the firm to perform necessary renovations to bring the properties into compliance with the CHA in order to begin receiving voucher rental payments. Once the foreclosure was complete Root was hired by the National Bank to handle REO management and to market the REO property for sale. The property was sold and the lender’s recovery was optimal.
Chicago Industrial Warehouse
Root was appointed as the Receiver to manage a 30,000 SF industrial property located at 4534 W. North Ave. for a case entered in the Circuit Court of Cook County. Root was able to ascertain that the entities operating out of the property were controlled by the mortgagor thereby gaining possession of the property. Root Realty was subsequently hired by the private equity firm to market and sell the REO property.
Bucktown Manufacturing Space
Root was appointed as the Receiver of a 30,000 square foot manufacturing property in Chicago for a case entered by the Cook County Circuit Court. Upon taking possession of the property, Root identified the property’s business occupants, collected rental monies, and oversaw maintenance. The borrower was able to recover the property and subsequently hired Root Realty to manage the building.