Molly Phelan

Partner

Molly is a partner with the Chicago office.  She helps clients identify, maximize, and protect the full potential of their real estate assets, minimize related tax liabilities, and resolve disputes with tax authorities and government entities. Molly’s client experience ranges from local multi-family portfolios to national commercial investment funds, including special use properties such as hospital campuses to multi-million-dollar manufacturing facilities. Her comprehensive understanding of the commercial real estate market was developed in part through her time as a real estate broker in the Chicago area prior to starting her legal career.  Molly regularly represents clients in hearings before review boards, local assessors’ offices, the Illinois Property Tax Appeal Board, and the circuit courts. She strategizes with her clients on a broad spectrum of real estate taxation matters, including tax assessment valuations, commercial development incentives, government incentives, reclassifications, exemptions, tax parcel divisons, municipal land banks and property tax abatement strategies.

Education

  • Loyola University Chicago School of Law, JD
  • University of Notre Dame, BA

Bar Admissions

  • Illinois – 2005

Professional Associations

  • American Property Tax Council
  • Counselors of Real Estate
  • Institute for Professionals in Taxation
  • Chicago Bar Association
  • Chicagoland Association of Realtors - Commercial Forum
  • CREW
  • Lambda Alpha International, Chicago Region Chapter

Community Involvement

  • The Goldie Wolfe Initiative - Board Member 2017-2024, Board Emeritus 2025-
  • The Roosevelt Univ.: Marshall Bennet Institute for Real Estate - Board Member 2022
  • Queen of Angels Parish & School - Volunteer 2018-2025
  • St. Benedicts Parish 7 School - Volunteer 2025-

Selected Publications