Rachel Ittner

Attorney

Rachel Ittner
312.491.4404
Rachel Ittner

Professional Experience

Applegate & Thorne-Thomsen, P.C.
Dentons US LLP

Admission to Practice

State of Illinois

Education

DePaul University College of Law, J.D.
University of Illinois, B.A., Liberal Arts and Science
312.491.4404

Commitment to Clients and Communities

In the world of real estate law, there’s a unique charm to community development. It’s about seeing the direct results—like driving past a new development or being there at its opening and recognizing the good it does for the community. The tight-knit field of New Markets Tax Credit (NMTC) law centers on unity and collaboration. Each project fosters a collegial atmosphere, with everyone pitching in to spark positive change in underserved neighborhoods. There’s a genuine camaraderie, where our shared mission is to champion transformative projects in underserved areas.

Outside of the office, my heart is set on supporting our animal and wildlife community. I take an active role on the Cosley Zoo Foundation Board, volunteer at a local animal shelter, and together with Maya, our certified therapy dog, we make meaningful visits to schools and senior homes.

Career Overview

Current Focus: While I primarily focus on NMTC work (predominantly community development entities (CDEs), source lenders, and tax credit investors), I also represent community development financial institutions (CDFIs) clients in lending transactions involving Capital Magnet Funds, charter schools, and housing. Additionally, I guide CDE clients through the regulatory facets of the NMTC program, including ongoing compliance issues, CDE certification, allocation applications, and allocation agreements.

Prior to pivoting to community development, I practiced in the commercial real estate industry, representing institutional lenders and major developers.

Highlights: 

  • Represented a group of CDFI lenders in a two-phase project involving source and direct financing with Capital Magnet Funds, Historic Tax Credits, and NMTCs for the rehabilitation of a historic automotive plant into a mixed-used development in Detroit, Michigan.
  • Represented a CDE providing allocation for the acquisition and renovation of six grocery store properties in food-insecure areas of Chicago, also involving city grant funds and third-party financing.
  • Represented source lender and CDE providing allocation to joint LIHTC-NMTC condominium project providing mixed-use commercial space, childcare, and residential units in Cambridge, Massachusetts.
  • Represented tax credit investor and CDE in FQHC project for the construction of a new 70,000 square foot clinic in Houston, TX using multiple source loans and County grant funds.

Professional Affiliations

  • American Bar Association
    • Member, Forum on Affordable Housing and Community Development Law
    • Member, Section of Real Property, Trust and Estate Law
  • Member, New Markets Tax Credit Coalition

 

We select A&TT for representation because of the high quality work output and strong advocacy skills possessed by their team. As a mission-based organization, we also value the emphasis placed on social responsibility by A&TT. Rachel worked alongside our staff to close four significant tax credit transactions within a highly compressed time frame. Her diligence, quick wit and positive energy kept us motivated! Rachel is relationship-driven–a successful model which has led to better collaboration on our deals.

 

Our attorneys have a passion for helping our clients reclaim and re-invigorate neighborhoods and cities. We represent developers, tax credit syndicators, investors, tax-exempt community development organizations and public housing authorities. They trust us to get the job done–please come talk with us to learn why you should too.

Let’s Work Together