With over 75 years of experience in
Chicago area residential real estate, Red Seal
Development Corp., is pleased to offer a full
complement of real estate turnaround and
work-out services to area lenders, investors and
property owners. Our clients on recent
distressed transactions include local and
national banks as well as prominent area real
estate investors.
Our Services Include:
Receivership for properties in
foreclosure
Land Sales
Asset Management of OREO properties
Rezoning of client parcels to
accommodate new market realities
General contracting to complete
infrastructure obligations on distressed
projects
General contracting to complete units at
stopped projects
Marketing and re-positioning partially
completed projects for rapid sellout
Joint Ventures to maximize recovery of
lender funds
Acquisition of distressed parcels
including partially constructed homes,
improved lots and condominium buildings
While each situation and property is unique, Red
Seal will generally adhere to the following
development program for distressed properties:
Stabilization and assessment of each
asset
Completion of critical work
Resolution of any immediate
infrastructure, development or
government approvals issues
Positioning of remaining inventory
for resale or hold by owner
