Best Project Finance Lawyers in Illinois

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Ice Miller LLP
Chicago, United States

Founded in 1910
350 people in their team
English
Built on a foundation of legal service more than a century long, Ice Miller LLP is committed to helping our clients stay ahead in a changing world.Our diverse client base ranges from start-ups to Fortune 500 companies and from governmental entities to educational organizations and pension funds. We...
Lashly & Baer
Belleville, United States

Founded in 1972
86 people in their team
English
We Have A History Of Making HistoryLashly & Baer, P.C., has its roots from Jacob M. Lashly, one of Missouri’s outstanding trial lawyers and a president of the American Bar Association. Another aspect of our legacy is the commitment to the communities in which we live and work. This public...
MVP Law
Springfield, United States

Founded in 1901
164 people in their team
English
Founded in 1901, MVP Law is never concerned with how others do it; we forge our own path to always meet our client’s needs. Experts in public and private sector workers’ compensation, general liability, and employment and education law, our attorneys are attentive, knowledgeable and ready to...

Founded in 1984
227 people in their team
English
The founding vision of Barack Ferrazzano in 1984 was to create a new model that departed from the standard "mega-firm" approaches and, instead, focused on delivering efficient, team-oriented services of the highest quality. Our founding partners - two highly respected law professors at Northwestern...
Greenberg Traurig, LLP.
Chicago, United States

Founded in 1967
2,300 people in their team
English
Five decades ago, while at lunch in a South Florida deli, attorneys Larry J. Hoffman, Mel Greenberg, and Robert Traurig saw an opportunity to establish a new breed of law firm for South Florida; a firm that mirrored a New York style firm. In 1967, they founded the law firm Greenberg Traurig...
Jones Day
Chicago, United States

Founded in 1893
2,500 people in their team
English
Jones Day has a history of more than 125 years and a culture of client service and professionalism based on explicit shared values. These values include providing pro bono legal services, building diversity in our profession, and supporting outreach efforts around the world.Jones Day has a long...
Lippes Mathias LLP
Chicago, United States

Founded in 1965
177 people in their team
English
Lippes Mathias LLP is a full-service law firm with more than 135 attorneys serving clients regionally, nationally, and internationally. With offices in Buffalo, N.Y.; Albany, N.Y.; Burlington, Ontario; Chicago, Ill.; New York City; Jacksonville, Fla; and Washington, D.C., the firm represents a wide...
Bailey Glasser
Chicago, United States

Founded in 1999
123 people in their team
English
Founded by Ben Bailey and Brian Glasser in 1999 in Charleston, West Virginia, Bailey Glasser has grown to include 76 lawyers, with 17 offices across the United States. The firm’s complex litigation practice focuses on high-stakes commercial litigation; class actions for consumers, insureds,...
Gordon Rees Scully Mansukhani, LLP.
Chicago, United States

Founded in 1974
1,688 people in their team
English
As the only law firm with offices and attorneys in all 50 states, we deliver maximum value to our clients by combining the resources of a full-service national firm with the local knowledge of a regional firm. Featuring more than 1,000 lawyers nationwide, we provide comprehensive litigation and...

Founded in 1948
1,700 people in their team
English
The traits that fueled Skadden’s rise from a New York startup to a global powerhouse - collaborative, innovative, persistent - continue to define our firm culture. We remain intensely focused on the simple formula of developing an inclusive complement of extraordinary attorneys, working together...
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About Project Finance Law in Illinois, United States

Project Finance refers to the legal and financial structuring of large-scale, capital-intensive infrastructure projects. In Illinois, Project Finance typically involves the development, construction, and operation of assets like power plants, transportation networks, utility systems, and other public-private partnerships. These transactions often use a non-recourse or limited recourse financial structure, which means that the project’s cash flow and assets are the main sources for repaying debt and generating returns for investors. Project Finance law in Illinois is a specialized area that involves contract negotiation, risk allocation, regulatory compliance, and securing financing from banks, multi-lateral agencies, or investors. Lawyers in this field help clients navigate complex legal arrangements to ensure that projects are bankable and legally sound.

Why You May Need a Lawyer

Legal counsel is critical in Project Finance, as these projects typically require significant capital, complex contractual agreements, and compliance with a web of local, state, and federal laws. You may need a lawyer if you are:

  • Developing or investing in infrastructure projects such as renewable energy facilities, toll roads, or water treatment plants
  • Negotiating with government agencies or private sector partners
  • Seeking to secure financing from banks or private lenders for a project based in Illinois
  • Dealing with regulatory compliance, permits, zoning, environmental impact assessments, or procurement issues
  • Drafting or reviewing complex contracts, such as Power Purchase Agreements (PPAs), Engineering-Procurement-Construction (EPC) contracts, or Operation & Maintenance (O&M) agreements
  • Restructuring existing projects or managing risk due to legal or regulatory changes
  • Facing disputes or litigation regarding project performance, delays, or defaults

Project Finance transactions typically involve multiple stakeholders and risks. Legal advice can help identify potential issues early and protect your financial and operational interests.

Local Laws Overview

Project Finance in Illinois is influenced by a mix of local, state, and federal laws. Some of the key legal aspects include:

  • Illinois Private Activity Bonds and Tax Law - Illinois allows the use of tax-exempt bonds and other state and local incentives for qualifying projects. Navigating the requirements for these incentives is crucial for project feasibility.
  • Zoning and Land Use Regulation - Projects must comply with Illinois’s zoning laws, land use restrictions, and may require multiple local government approvals.
  • Public-Private Partnership (P3) Legislation - The state has statutes such as the Public-Private Partnerships for Transportation Act, which enables collaboration between public and private entities for infrastructure development.
  • Environmental Compliance - Projects must adhere to the Illinois Environmental Protection Act and may require environmental assessments or permits from agencies such as the Illinois Environmental Protection Agency.
  • Contract Law - Illinois contract law impacts risk allocation in project agreements. Careful drafting is required for enforceable terms regarding performance, change orders, liability, and dispute resolution.
  • Permitting and Regulatory Approvals - Many projects require permits or approvals from state and municipal bodies. Missing or delayed permits can stall a project and impact financing agreements.

Staying compliant with these laws can help mitigate project risks and safeguard your investment.

Frequently Asked Questions

What is Project Finance?

Project Finance is a method of funding large-scale projects where the project’s assets, rights, and cash flow serve as collateral for loans. The financing is generally structured so that the lenders recoup their investments from the future revenues of the project, not the sponsors' own assets.

Who typically needs Project Finance legal services in Illinois?

Businesses, developers, investors, government bodies, and financial institutions involved in infrastructure, energy, utility, or large commercial projects frequently require Project Finance legal services in Illinois.

What legal documents are commonly involved in Project Finance deals?

Key documents include loan agreements, security agreements, intercreditor agreements, EPC contracts, PPAs, lease or concession agreements, and various regulatory filings.

How is risk typically allocated in Project Finance agreements?

Risks such as construction delays, cost overruns, regulatory changes, operational risks, and force majeure events are typically allocated through carefully drafted contract provisions among the parties involved.

Are there special incentives for renewable energy projects in Illinois?

Yes, Illinois offers a variety of incentives and tax credits for renewable energy projects, including renewable portfolio standards and access to state and federal grants or loan programs.

What role do local governments play in Project Finance?

Local governments may grant zoning approvals, issue permits, provide tax incentives, or serve as partners in public-private partnerships. Their involvement is often essential to project success.

Does Illinois permit public-private partnerships (P3s) for infrastructure?

Yes, Illinois has laws enabling public-private partnerships for transportation and other infrastructure sectors, allowing private capital and expertise in delivery and operation of public assets.

What permits are usually required for large projects in Illinois?

Necessary permits can include environmental permits, construction and occupancy permits, zoning approvals, and utility interconnection agreements, depending on the nature and location of the project.

How long does it take to close a Project Finance transaction?

The timeline varies but can take several months or longer due to the complexity of due diligence, contract negotiation, permit procurement, and financing arrangements.

Can I seek financing from out-of-state or international lenders for my Illinois project?

Yes, many Project Finance structures involve domestic and international lenders. However, compliance with Illinois and United States regulatory requirements is essential.

Additional Resources

  • Illinois Department of Commerce & Economic Opportunity (DCEO) - offers information on state incentives, permits, and business support
  • Illinois Environmental Protection Agency (IEPA) - provides guidance on environmental permits and compliance
  • Illinois Finance Authority - assists with public funding, private activity bonds, and special financing programs for public projects
  • Chicago Infrastructure Trust - focuses on infrastructure investment and financing in the Chicago area
  • U.S. Department of Energy Loan Programs Office - for energy project financing
  • American Bar Association (ABA) Section of Public Utility, Communications and Transportation Law - offers resources on infrastructure-related legal issues

Next Steps

If you are considering or currently involved in a Project Finance transaction in Illinois, it is wise to consult with an attorney experienced in this specialized field. Here is how to proceed:

  • Gather all relevant documents and information about your project, including any existing agreements, permits, or correspondence with regulators or lenders
  • Identify your main objectives and any potential legal or financial risks you foresee
  • Research attorneys or law firms in Illinois with a strong track record in Project Finance
  • Schedule a consultation to discuss your project’s legal landscape, including regulatory requirements, risk allocation, and contract structuring
  • Work with your legal advisor to develop a compliance checklist and timeline for each stage of your project
  • Regularly review changes in relevant laws and regulations impacting your project

Proactive legal guidance is one of the most effective tools for mitigating risk and ensuring the success of your project finance endeavors in Illinois.

Lawzana helps you find the best lawyers and law firms in Illinois through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Project Finance, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Illinois, United States - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.