Larry Weiner

Principal and Co-Founder, Marc Realty

Over the last half-century, Weiner has built his commercial landlord company, Marc Realty, into one of Chicago’s most long-term owners of older office stock. Through Marc, Weiner has assembled dozens of properties in the Loop and along other major downtown corridors, such as LaSalle Street, Jackson Boulevard and Michigan Avenue.

Yet, as downtown office vacancies climbed and refinancing options narrowed, Marc Realty became entangled in a series of legal and financial disputes emblematic of the stress facing legacy Loop portfolios.

In 2023, the firm was hit with a $16 million foreclosure suit tied to aging offices on Jackson Boulevard, underscoring the pressure on older buildings with softening cash flow. More recently, Weiner and Marc have been sued by partners and investors.

In one dispute, investor David Ruttenberg sued Weiner over disagreements in their management of an extensive portfolio of apartments. In another, Weiner’s firm sued to seize a portfolio of Greektown office buildings from their owners after they allegedly breached the terms of a ground lease agreement with Marc Realty.

Weiner has denied the allegations against him and Marc, and several cases remain pending. Still, the legal friction reflects how quickly long-standing joint ventures can unravel when property values reset and financing options fade.