Receiverships / Bankruptcy Services
Properties in receivership come with unique challenges—legal complexity, financial risk, and operational instability. At Millennium Properties, our seasoned receivers and property managers offer the expertise and structure needed to stabilize these assets and guide them through the foreclosure process. With over 30 years of experience, we’ve worked with lenders, courts, and note holders across Chicagoland to manage properties in federal bankruptcy, disputed trusts, and both judicial and nonjudicial foreclosures.
From small commercial storefronts to large redevelopment sites, our team has successfully managed properties of every size and class. We develop sound business plans, conduct in-depth assessments, and implement efficient turnaround strategies that bring properties into compliance, protect value, and mitigate losses. Our accounting and management practices are built on proven internal controls to reduce financial exposure for creditors and investors.
Even after foreclosure proceedings are complete, Millennium can continue to manage and lease the asset, oversee necessary improvements, and position the property for a successful sale. Our in-house brokerage team is also available to market the asset during the receivership period, ensuring continuity and maximizing return.
Trust your receivership assets to a team that understands every step of the process—from stabilization to disposition.
Strategic Solutions for Every Stage of Your Real Estate Portfolio
Millennium Properties goes beyond traditional management to deliver comprehensive, forward-thinking solutions tailored to the unique goals of each asset. Whether you’re repositioning a property, optimizing performance, or planning your next acquisition or sale, our experienced team offers the insight, strategy, and execution to move with the market—and ahead of it.
From daily operations to complex leasing strategies, investment planning, and tenant engagement, we provide hands-on expertise across every property type. Our approach is proactive, data-driven, and designed to unlock value, mitigate risk, and support the long-term success of your portfolio.
Strategic Solutions for Every Stage of Your Real Estate Portfolio
Receivership Expertise That Protects and Restores Value
Millennium Properties brings decades of experience in managing court-appointed receiverships across all property types. From navigating complex legal proceedings to stabilizing distressed assets and mitigating losses, we offer the strategic oversight and operational precision needed to safeguard property value throughout the foreclosure and receivership process.
Managing the Complexities
Millennium specializes in managing a broad range of distressed commercial properties—including office buildings, retail centers, industrial spaces, multi-family housing, and redevelopment sites. Our in-depth understanding of judicial and nonjudicial foreclosures, federal bankruptcy court, and disputed trusts allows us to guide properties through even the most complex legal and operational challenges. We ensure compliance, maintain continuity, and position each asset for recovery.
Turning Distress into Opportunity
Our proactive receivership strategies are designed to minimize creditor losses and restore asset performance. From financial restructuring and revenue recovery to maintenance improvements and leasing plans, we help reposition properties to compete—often matching or exceeding market conditions. For properties transitioning out of foreclosure, we provide expert oversight to protect value and prepare for future sale or lease.
The Millennium Executive Team
Our leadership team combines deep market knowledge with a hands-on approach to help you achieve your real estate goals.
Brad Thompson
Executive DirectorBrad Thompson specializes in managing and selling investment commercial real estate. He has completed over 400 transactions across all property types and serves as a court-appointed receiver throughout the Chicago area. Recognized as a top producer, Brad works with individual owners, banks, family offices, and capital groups nationwide.
Daniel J. Hyman
PresidentDan Hyman, President and Founder of Millennium Properties, has nearly 40 years of experience in Chicago commercial real estate. Since founding the firm in 1996, he’s led over $4 billion in transactions and advised financial institutions as a receiver and consultant.
Susan B. Silver
Executive DirectorWith over 20 years of experience, Susan B. Silver has completed more than 750 commercial real estate transactions totaling over $1 billion. She brings deep expertise across all property types, offering strategic guidance and personalized service to individual owners, developers, and institutional clients.
We’re Hiring!
At Millennium Properties, we believe great people are at the heart of everything we do. For more than two decades, we’ve built a reputation in Chicago’s commercial real estate market through dedication, expertise, and a commitment to exceptional service—and we’re looking for talented individuals to join us.