Financial Institutions


It is our experience that in the current economic climate, myriad opportunities for cost savings and improved value of underperforming/non-performing properties are being missed by Financial Institutions.

To help institutions maximize their ROI, Code & Construction Consultants offers a range of highly specialized programs and consulting services.
Code & Construction Consultants
500 N Michigan Ave., Suite 600
Chicago , IL 60611
P: 312-321-9900
F: 312-321-9904
Email us


Client properties are reviewed to determine their current construction and financial conditions for purposes of financing, refinancing, purchase, sale, foreclosure, repositioning sale, workouts or strategic planning with regard to long- term hold.

Reporting follows an ASTM E2018-01 format and includes, but is not limited to: physical description(s) of the property with photographs, geotechnical condition, foundation condition, site improvements, utility evaluation, elevators, structure, roofing, exterior and interior finishes, plumbing, mechanical and electrical systems, life safety requirements, and governmental issues.

Reports will outline any problem areas, construction deficiencies, or unusual conditions and include recommendations for corrective action, as well as cost estimates for all recommended repairs and projected capital expenditures over time as may be required.

Our report will review rehabilitation costs and cost estimates for repairs, upgrades, cost to complete, etc., for sufficiency and appropriateness. Pre- or post-foreclosure proceedings will provide detailed forensic construction audits to determine actual cost owing to contractors.

We will negotiate and help satisfy all outstanding mechanics' liens. We are also available to review additional borrower or lender loan requests for construction funds to complete or enhance projects. All of our reporting caters to the specific requirements of the client.

If required, we will also monitor and manage the quality and progress of repairs and rehabilitation of these projects as client fiduciary.


With our national and international construction experience, we will be a vital support component in the client disposition and business restructuring process.

Our professional staff possesses the skill and experience necessary to quickly determine the status, condition, and quality of construction completed to date for projects that are presently in a non-performing, workout scenario, foreclosure, or are in a partially-completed status.

We will visit the project, meet with available personnel, review available documentation to ascertain the status of current and remaining work, review the status of governmental entitlements and/or building permits and the associated cost to bring the project to substantial completion. Our comprehensive summary reporting will allow the client to make sound underwriting decisions in the current market.


Our evaluation will identify the governmental entitlements related to partially improved and unimproved land, as well as the rationale for maintaining those entitlements.

We can provide and manage a team of providers to determine the required construction improvements of REO properties with associated cost to administer and manage expectations.

We can provide assistance with regard to accurate mark to market evaluations as related to construction requirements.

We can provide construction support in developing Seller's Transfer Disclosure Statements when required.


We are available to review and develop, with the client, a plan for the retention of an REO that is situated in a distressed area of the country where a long hold period may be required.

We will review and/or reactivate entitlement commitments and building permits to preserve commitments with authorities having jurisdiction over the property.

We will review warranties of various products and improvements in or on the property to establish burn off date for those warranties and work to extend those warranties where necessary.

With the client, we will develop a strategy to secure the property and develop a plan to maintain the assets and protect the improvements of the property.