Karen A. Tobin

Karen’s exposure as a corporate liaison to three outside law firms in dealing with company formations, commercial lease negotiations, and working with governmental organizations relating to planning and development of real estate intrigued her so much that she decided to become an attorney herself. Today, Karen is a knowledgeable and respected attorney, assisting small and mid-sized companies in the areas of business formation, reorganization, corporate maintenance, and qualifications in multiple jurisdictions. 

Karen has experience in maintaining business entity client files for corporations, limited liability companies and partnerships. She routinely assists clients in the formation of new business entities, raising of capital through Regulation D and Regulation A, preparation of private placement memoranda and associated agreements, and is very familiar with the filing process of the Illinois Secretary of State, the Internal Revenue Service, and the Illinois Department of Financial and Professional Regulation.

Karen has in-depth knowledge and experience with not for profit corporate formation and qualification of tax exempt status with the Internal Revenue Service for both 501 (c)(3) and 501(c)(4) organizations. She is instrumental in qualifying organizations for Women Business Enterprise Certification, Minority Business Enterprise Certification, and Disadvantaged Business Certifications as well as annual recertification’s. Karen has experience in small claims contract litigation, shareholder dispute settlement negotiation, and litigation involving breaches of fiduciary duty and fraudulent conveyance.

Prior to her legal career, Karen served as development director for a commercial and residential development company. She was directly responsible for the initial start-up of new residential and commercial developments, commercial leasing efforts, and monitoring advertising and promotional efforts. Included in her responsibilities were site selection, pro-forma analysis and due diligence, rezoning, as well as proposal submissions to the City of Chicago of Requests for Qualifications (RFQs) and Requests for Proposals (RFPs) in the planned unit development process.

• Heartland Realtor Organization: Current Member; Chairperson, Resource Committee; Commercial Real Estate Committee; Contacts and Forms Committee; Former Ambassador, Task Force
• Member: Illinois State Bar Association (ISBA), McHenry County Bar Association; Woodstock Chamber of Commerce; Crystal Lake Chamber of Commerce
• Board Member: YMCA 

• Represented a member of a minority interest in a Limited Liability Company involving claims of breach of fiduciary duty, unjust enrichment, and claims of conversion for which the parties eventually reached a settlement
• Prepared reorganization documents for sixteen companies in a multi-million dollar trucking company structure, served as the primary drafter for all transaction documents and formation documents, and managed the closing checklist
• Represented private equity company in asset purchase of landscape business, negotiated and drafted all transaction documents including the asset purchase agreement, employment agreement, promissory note, and conducted due diligence required to complete the transaction
• Negotiated and drafted all transaction documents including stock purchase agreement and conducted due diligence required to complete transaction for a private equity company in a stock purchase of a trucking company
• Qualified several not for profit companies for 501(c)(3) status through the filings of both Form  1023 and  Form 1023 EZ
• Participated in the representation of minority shareholder interests to successfully secure and protect minority shareholder from takeover attempts in privately held corporation
• Represent tenants  in the negotiation of commercial lease drafting and execution
• Prepare shareholder agreements, operating agreements, and other corporate documents, and assist in the negotiation of these agreements between the parties