Phillip J. Salerno II

Phillip J. Salerno II

Partner

Mr. Salerno is a trusted advisor to individuals and privately held companies throughout a wide range of industries and market position.  He applies his legal and accounting experience, judgment, and practical approach to meet his clients’ legal needs.  Clients rely on him in matters affecting strategic planning, conflict management, financing transactions, customer and partner contracts, real estate matters, and merger and acquisition activity. 

Mr. Salerno’s clients include financial institutions, family offices, information technology service providers, consulting firms, real estate developers, landlords, specialty manufacturers, distributors, consumer service businesses and retailers.

Mr. Salerno brings a distinct sense of ownership and sincere appreciation of his clients’ needs to the practice of law, which he attributes to growing up in a service-driven, family-owned business.

Practice Admissions, Affiliations & Memberships

Admissions

  • Supreme Court of Illinois
  • U.S. District Court for the Northern District of Illinois

Memberships

  • American Bar Association: 
Business Law Section; Real Property, Trust and Estate Law Section; Taxation Section
  • Illinois State Bar Association
  • DuPage County Bar Association

Other Professional designation

  • Registered Certified Public Accountant, Illinois

Community Involvement

  • Director, Fox Valley Special Recreation Foundation
  • Volunteer Coach, D200 INCubator Program, Wheaton Wolverines Lacrosse

Education

  • Juris Doctor, The John Marshall Law School (2006)
  • Bachelor of Science in Accountancy,
    Northern Illinois University (1998)

Seminars

  • Mr. Salerno addresses clients and peer groups from time-to-time on matters affecting corporate law, commercial real estate and secured transactions.

Representative Transactions/representation

  • Counseled clients with respect to business entity selection, formation, and tax classification, including design and drafting of company organizational documents, shareholder and operating agreements (including buy-sell planning), and ongoing maintenance of corporate books and records
  • Analyzed, drafted and negotiated business contracts, including master services agreements, statements of work, terms and conditions, licenses, supply and distribution agreements, construction contracts, employment agreements, and independent contractor agreements
  • Planned, documented and managed the sale and purchase of privately held businesses including stock, membership interest and asset purchase transactions
  • Negotiated and facilitated the sale and purchase, development and leasing of retail centers, office buildings, industrial buildings, ground lease and mixed-use properties, condominium property and farm land, including 1031 exchanges
  • Documented, restructured and enforced credit facilities for institutional and private lenders
  • Provided estate planning guidance and prepared powers of attorney, wills and trust agreements
  • Advocated for clients before local governments in matters involving land use, business taxation and compliance with health and safety matters