James M. Vasselli - Senior Partner
James Vasselli is a Senior Partner at the Del Galdo Law Group and serves as the Chairman of the Firm’s Real Estate and Public Finance Departments. Numerous real estate development projects that Mr. Vasselli has completed have received state and national commendations. Mr. Vasselli’s testimony has been taken by the Illinois General Assembly as an expert on Tax Increment Financing laws. Mr. Vasselli’s charitable endeavors have been recognized by Chicago’s Mercy Home for Boys and Girls and the Order of the Sisters of St. Francis. Mr. Vasselli primarily focuses his practice on complex commercial real estate transactions and commercial development for both governmental and private sector clients, and municipal and public finance law for area municipalities and schools.
Mr. Vasselli has been named by Illinois Super Lawyers as a Rising Star in 2014, 2013 and 2012.
AREAS OF EXPERIENCE
- Commercial Real Estate
- Real Estate Development
- Residential Real Estate
- Municipal Law
- Public Finance
- Land Use and Planning
- Employment Law
- Labor Law
- Criminal Prosecutions
- Criminal Defense
- State and Federal Litigation
- Representation of a governmental unit for the sale of a 35 acre brownfield site for redevelopment into a 600,000 square foot industrial warehouse and office space for Wirtz Beverage Corporation.
- Representation of a governmental unit assisting Navistar International Corporation (“Navistar”) with securing incentives from the State of Illinois and the County of Cook for a rehabilitated facility on North Avenue. Navistar is committed to investing no less than $50,000,000.00 in the facility.
- Representation of a governmental unit for the sale of an approximately 31 acre brownfield site for redevelopment into a Wal-Mart Super Center and adjacent retail center.
- Representation of a governmental unit in a retail development project that won the Council of Development Finance Agencies’ “2012 Excellence In Development Finance, Tax Increment Finance Award” that includes retailers such as Five Guys Burgers, Chipotle, Buffalo Wild Wings, Verizon Wireless and The Vitamin Shoppe.
- Representation of a governmental unit in drafting an economic incentive agreement in the amount of $1,375,000.00 to incentivize the developer to construct a Culver’s restaurant. Construction of the redevelopment project is complete.
- Representation of a governmental unit in drafting an agreement with the developer, Luigi’s Paisans Pizza, Inc., to provide the developer with economic incentives in an amount of no less than $500,000.00 (based upon performance benchmarks) for the construction of a full service pizza parlor and general distribution center.
- Representation of a governmental unit in the acquisition of the property commonly known as the Anderson Bros. Ford Dealership. The acquisition price was $4,000,000.00. The property was being used as a public works facility by the governmental unit. It will be the future home of a JD Byrider franchise owned by the Harold Zeigler Auto Group.
- Representation of a governmental unit in drafting and negotiating an economic incentive agreement (sales tax sharing agreement). The Agreement directs the client to reimburse a portion of all sales tax revenue generated by the Kia dealership located at the site to the developer.
- Representation of a governmental unit in establishing a TIF District and entering into a Redevelopment Agreement with VHS Westlake Hospital, Inc. (“VHS”). The Redevelopment Agreement directs all real estate tax increment generated by VHS to be evenly divided between the governmental unit and VHS eligible reimbursement costs. The Parties estimate that approximately $30,000,000.00 in real estate tax increment will be generated from the TIF District.
- Representation of a governmental unit in drafting and negotiating an economic incentive agreement with Costco Wholesale Corporation (“Costco”). The Agreement directs the client to reimburse to Costco one half of all sales tax revenue generated from sales conducted at the new Costco store. The Parties estimate that the Costco store will generate approximately $750,000.00 to $1,000,000.00 per year in sales tax for the 20-year term agreement.
- Representation of a governmental unit in the negotiation and acquisition of improved property and establishment of a senior living facility.
- Representation of real estate development group to secure successful zoning for 500-acre commercial/industrial development in western Cook/eastern Kane counties.
- Representation of real estate development group in preparing and securing $16,000,000.00 special service area/bond transaction with the Village of Bartlett.
- Worked with numerous municipalities with the annexation and rezoning of properties.
- Representation of Seller’s and Purchasers with regard to all phases of real estate transactions.
- Negotiated leases and amendments thereto, license agreements, notes and security agreements, contracts and employment termination agreements.
- Negotiation of indemnification and hold harmless agreements for public and private clients.
- Represented private developers for agreements providing for the construction of commercial retail shopping centers, including the negotiation of agreements for economic incentives provided by local governmental units.
- Drafted legislative proposals and reviewed various matters for legislative proposals while serving as staff attorney for Illinois State Comptroller Daniel W. Hynes.
- Drafted and reviewed legislation for units of local government.
- Reviewed employment matters and implemented employment procedures for Office of Illinois State Comptroller Daniel W. Hynes.
- Served as issuer’s or underwriter’s counsel for more than $250 million in public debt offerings.
- Successfully defended public and private clients in litigation matters.
- LLM, Financial Services, IIT-Kent, (pending Master’s Thesis)
- MSFM, IIT (pending)
- MBA, De Paul University, Kellstadt School of Business
- J.D., De Paul University College of Law
- B.A., Drake University, magna cum laude
ADMITTED TO PRACTICE/PERSONAL/BAR AFFILIATIONS
- Attended Loyola Academy College Preparatory High School
- Raised in Chicago’s Sauganash neighborhood
- The Chicago Bar Association
- Illinois State Bar Association