Phillip CooverPhillip Coover Clark Hill
Phillip N. Coover, a Member in the Chicago Office's Real Estate Practice Group, is an experienced commercial real estate attorney and advisor who helps clients find strategic solutions and maximize the value of their real property. Phillip is skilled in closing complex, difficult transactions. His background as a commercial litigator, business owner and licensed real estate broker gives clients a big-picture approach to corporate and real estate transactions, and acquisition and sales. He also handles litigation, including receiverships and other distressed assets, foreclosures, commercial bankruptcy creditor representation, business disputes and breach of fiduciary duties, and debt collection.
Because of his philosophy of adding value to every transaction, real estate clients trust Phillip to be the sole resource for all their issues, from commercial real estate acquisition and sale, to divestiture, to commercial retail and offices leasing, to zoning issues and handling their litigation needs. Phillip has successfully closed millions of dollars of commercial property and obtained millions of dollars of judgments against adverse parties. He regularly counsels local and national commercial real estate investment companies, real estate developers, real estate development and brokerage companies, private equity lending companies, property management companies and business owners on a local and national basis.
With a background as chairman of the Chicago Bar Association’s commercial litigation committee, and multiple time recipient of the Illinois Super Lawyers Rising Star award in business litigation, Phillip helps clients foreclose on properties, collect debts, evict nonpaying commercial tenants, enforce contracts, defend false allegations, and achieve litigation success. Even though Phillip is a member of the federal trial bar, he looks for opportunities to resolve matters in arbitration,
mediation, and settlement conferences before and during litigation to minimize costs and maximize recovery.
Phillip is adept at structuring capital raises—helping investors and promoters navigate building the capital stack. He assists developers and fund creaters by preparing investment documents, working through securities offering and exemption issues, and providing experienced tactical advice, all during the course of representing single project fund deals as well as large private equity blind funds.
One of the foremost professionals in the Opportunity Zone space, Phillip has lectured, podcasted, and written on the subject. He has structured investments for individuals who want to receive Opportunity Zone benefits, developers who want to Target Opportunity Zone capital for a qualifying project, and fund promoters creating blind Opportunity Zone funds for mass scale development.
Phillip is frequently called upon to speak on real estate and business trends including commercial landlords’ rights, creditors' rights, and receivership obligations and duties. He unpacks and analyzes commercial real estate trends as host of the Real Estate for Breakfast podcasts.
He is a runner and lives with his wife and children in Riverside, IL. He is also involved in club governance with the University Club of Chicago.