On Thursday, August 28, 2025, the Administrator of the Illinois Attorney Registration and Disciplinary Commission filed a complaint against Attorney Michael Jeffrey Gunderson.
The case is entitled “In the Matter of Michael Jeffrey Gunderson,” with case no. 2025PR00051.
The allegations stem from Gunderson’s handling of client funds, primarily related to real estate transactions. Since 2008, Gunderson has practiced as a sole proprietor or in partnership, focusing on real estate and bankruptcy law; since June 2022, he has been the sole attorney at Gunderson Law Firm, LLC. The complaint outlines multiple instances of alleged fund conversion and account commingling.
According to the complaint, Gunderson maintained several bank accounts, including a personal checking account at JPMorgan Chase Bank (ending in 7919), which he used for both personal and business purposes since May 2014. He also held a checking account at First Eagle Bank (ending in 9101) titled “GUNDYLAW PC,” known as the “Real View checking account,” since May 2020. This account was initially used for funds belonging to Real View Design and Development, a client, as well as third parties and Gunderson himself.
Additionally, since February 2022, Gunderson maintained an IOLTA client trust account at First Eagle Bank (ending in 6301) under the name “GUNDYLAW PC IOLTA CLIENT TRUST ACCOUNT,” intended for client and third-party funds unrelated to Real View Design and Development. Since January 2023, he has also operated a checking account at Chase Bank (ending in 3766) titled “VILLAGE LEGAL SERVICES LLC” for his own business purposes.
The complaint includes twenty-one counts, the majority of which focus on the alleged conversion of funds. Count I alleges the conversion of $175,000 related to a Real View Investment. It states that in January 2023, an investor wired $175,000 into the Real View checking account for a Real View development project. By February 14, 2023, without authorization from Real View, Gunderson allegedly overdrew the account and used the $175,000 for his own purposes.
Counts II through IX detail similar allegations of conversion related to real estate transactions on 4th Avenue, Rice Street, Clybourn Avenue, Fry Street, 119th Street, Erie Street, Victoria Street, and Union Avenue. These counts claim that Gunderson used earnest money deposits, meant to be held in trust, for his own personal or business expenses. The alleged conversions range from $2,000 to $30,942.72 and occurred between April 2023 and February 2024.
Counts X through XIX continue to describe similar instances of alleged conversion involving properties on Wolcott Avenue, Racine Avenue, Pine Street, Arthur Avenue, Saint Marks Place, West Avenue, Damen Avenue, Malden Avenue, LeClaire Avenue, and Central Park Avenue. The alleged amounts converted range from $2,000 to $35,000, with these incidents occurring between March and November 2024.
Count XX accuses Gunderson of commingling funds. The complaint alleges that the Real View checking account, personal checking account, and operating account were not separate, identifiable trust accounts. It details numerous wire transfers and check deposits of client and third-party funds into these accounts between January 2022 and December 2024. Furthermore, it states that on July 12, 2023, $99,099.97 in real estate proceeds from the sale of a property owned by Gunderson’s company, Crossed Streams Development, LLC, were wired into his IOLTA account.
Count XXI alleges failure to keep proper client trust account records. The complaint asserts that from January 2022 to November 2023, Gunderson failed to prepare and maintain contemporaneous client ledger records and three-way reconciliation reports.
The Administrator of the Attorney Registration and Disciplinary Commission requests that the matter be assigned to a panel of the Hearing Board, a hearing be held, and that the panel make findings of fact, conclusions of fact and law, and a recommendation for appropriate discipline.
According to Avvo.com, Mr. Gunderson is a real estate attorney in Chicago, Illinois. He attended the Chicago-Kent College of Law, Illinois Institute of Technology, graduating in 2006. He acquired his law license in Illinois in the same year.
A copy of the original filing can be found here.
