Location: Chicago
Phone: 312-726-0355

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Terrence L. Schaul

Practice Description

Terrence (Terry) Schaul’s legal practice concentrates in the areas of business organizations including corporations, partnerships, and limited liability companies, commercial and industrial real estate development and leasing, and corporate, partnership, trust, and individual income, gift, and estate tax planning and strategy.  Terry possesses a broad array of expertise to address issues facing closely-held companies and family groups and has been able to effectively manage and represent multiple interrelated and layered legal issues and related planning, utilizing not only his legal degree and experience but also his professional business, certified public accounting, and real estate degrees and licenses. These combined practices and degrees enable Terry to provide a unique spectrum of transactional representation for closely-held groups with a broad asset basis facing multiple legal issues involving both their business structures and family holdings, while maintaining an invaluable oversight on the related succession issues and practicalities of representing successful family groups and their businesses.

Terry’s business practice includes asset and stock acquisitions and divestitures, business reorganizations, commercial lending and credit transactions and restructures, private placement and fund formations and financing, employment and stock option agreements, software and other intellectual property licenses, developments and related intellectual property issues. Terry has significant experience serving as general legal counsel to closely-held companies and family partnerships and trusts. His representation has spanned various industries including banking, manufacturing, distribution, retail, communication, aviation, construction, and real estate.

Terry’s real estate practice includes representing owners, developers and lenders in acquisitions, divestitures, development, leasing and financing of retail, office, industrial, and residential real estate investments.

Terry’s tax practice encompasses federal and state income tax structures, planning and compliance for corporations, partnerships, trusts, not for profits, private foundations, and individuals, as well as gift and estate tax and business succession planning and strategy.

Prior Legal and Tax Affiliations

Burke, Warren & McKay, P.C., Associate, Chicago, Illinois (1992-1994)

Burke, Wilson & McIlvaine, Associate, Chicago, Illinois (1988-1992)

Burke, Griffin, Chomicz & Weinke, P.C., Associate, Chicago, Illinois (1987-1988)

Arthur Andersen & Co., Corporate Tax Department, Chicago, Illinois (1987)

Ernst & Whinney, Tax Department, Chicago, Illinois (1986-1987)

Certified Legal Specialties

  • Certified Public Accountant, Illinois, 1985

Bar Admissions

  • Illinois, 1988
  • U.S. District Court Central District of Illinois, 1989
  • U.S. District Court Northern District of Illinois, 1989
  • U.S. District Court Southern District of Illinois, 1989
  • U.S. Federal Court, 1988
  • U.S. Tax Court, 1988


  • DePaul University College of Law, Chicago, Illinois
    • J.D. – 1988
  • University of Illinois, Champaign, Illinois
    • B.A. – 1985

Professional Associations and Memberships

  • Chicago Bar Association, Member
  • Illinois State Bar Association, Member
  • American Bar Association, Member
  • American Institute of Certified Public Accountants, Member
  • Illinois Society of Public Accountants, Member


  • Alpha Delta Phi