Turnaround and Work-Out Services - Red Seal Homes
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Turnaround and Work-Out Services

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

For information, please contact:

Brian Hoffman: bhoffman@redsealhomes.com
Todd Fishbein: tfishbein@redsealhomes.com
Shari Scheck, Controller: sscheck@redsealhomes.com