Red Seal Development Corporation:
Opportunities in Distressed Residential Real Estate

With 75 years of experience in Chicago area residential real estate, Red Seal Development Corp., is pleased to offer a full complement of 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:

• General contracting to complete 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
• Rezoning of client parcels to accommodate new market requirements
  

While each situation and property is unique, Red Seal will generally adhere to the following development program for distressed properties:

• Completion of partially constructed units at a given property
• Sales of such fully constructed units by undercutting current market prices – including whatever discount is needed to achieve desired pace of absorption
• Resolution of any immediate infrastructure, development or government approvals issues
• Positioning of remaining inventory for resale to interested builders or hold by owner

For additional information please contact:

Todd Fishbein, President & CEO - tfishbein@redsealhomes.com
Brian Hoffman, Vice Chairman & CFO - bhoffman@redsealhomes.com