Real Estate and Agricultural Services for Nonprofits
The long-term benefits of accepting real estate donations whether residential, commercial, farmland or timber are significant, but managing these assets effectively can be time consuming and complex. Additionally, performing due diligence on real estate assets prior to acceptance is a necessary step to protecting you from environmental liability and ensuring that you understand the carrying cost and ultimate exit strategy for the asset.
The Real Estate and Agricultural experts at Northern Trust can help you through the due diligence process, provide strategic advice regarding retention and monetization, as well as quarterback the management of these assets. We will regularly review and evaluate asset performance to make recommendations whether to retain or sell assets as well as work with local property managers to determine real estate taxes are paid, insurance is maintained, budgets and capital improvement plans are developed and reviewed. Then, when appropriate and at your direction we develop a disposition strategy, working with professionals seeking to maximize sales proceeds. We give you the confidence that you are maximizing the benefits, and returns, of your real estate and agricultural assets.
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Mike Papierski, JD |
Mike Papierski, JD
EXPERTISE
As national practice leader for both Family Business, Loans & Liabilities and Real Estate and Agriculture Mike focuses on the management of illiquid real estate and family business assets held in trusts and estates that collectively exceed $10 billion in value, as well as advising clients and prospects with respect to their personal assets. He also serves on several boards of entities held in trusts and estates that hold controlling family business or real estate interests.
CREDENTIALS
He’s a Senior Vice President and Attorney and active member of the Illinois State Bar Association. In addition, he served as a Board member of the Certified Commercial Investment Manager (CCIM) from 2004-2007 for the Chicago Chapter and is a candidate for the CCIM designation. Mike taught "Administering Real Estate in Trusts & Estates" at the Graduate Trust School at Northwestern University.
EXPERIENCE
Before joining Northern Trust in 1998, Mike managed the Real Estate team for American National Bank. Additionally, he worked for nine years in private law practice focusing on real estate, corporate transactions and estate planning.
EDUCATION
He graduated from John Marshall Law School with a juris doctor degree and from Southern Illinois University with a bachelor’s degree in accounting.