Stephen F. Welcome's Profile Image

Stephen F. Welcome

Phone: 312-541-8600
Fax: 312-541-8603

Stephen F. Welcome (Of Counsel) is a leading player in the firm’s transaction practice group. Mr. Welcome's practice focuses on the areas of financial and real estate transactions and governmental affairs. His financial transaction practice is concentrated primarily on municipal bond finance. Mr. Welcome has served as bond counsel, underwriter’s counsel, bank counsel, borrower’s counsel, and issuer’s counsel for bonds issued by municipalities, other forms of government, and state agencies. He also has served as counsel to two governmental issuers since 1978.

Additionally, Mr. Welcome has practiced extensively in the areas of housing and real estate development as they interface with government financing. His practice also encompasses general counsel legal services on behalf of governmental entities and not-for-profit corporations.

Prior to joining the firm in 1998, Mr. Welcome was Counsel for a predecessor to the Illinois Finance Authority and as an attorney for CNA Insurance Company and Financial Guaranty Insurance Company in their municipal bond insurance businesses, which experience included financial and real estate transactions, various types of municipal bond transactions, and conduit financings.

Practice Areas

  • Banking and Commercial Lending
  • Business and Corporate
  • Municipal Law
  • Public Finance
  • Real Estate

Bar and Court Admissions

  • Illinois Supreme Court (1977)
  • United States District Court for the Northern District of Illinois


  • Northwestern University School of Law
    J.D., 1977
    Law Review Staff
  • Yale University
    B.A., 1974

Professional Memberships

  • Chicago Bar Association
  • National Association of Bond Lawyers

Prior Experience

  • In-house counsel, Illinois Development Finance Authority (1990-1998)
  • In-house counsel, CNA Insurance Company and Financial Guaranty Insurance Company (1987-1990)
  • In-house counsel, Jennings Realty, Inc. (1978-1986)

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