Russell Novak, CPA
In Memoriam. Russell Novak, CPA, was a prominent figure in Chicago accounting circles. He advised clients for more than 50 years, providing financial support and expertise prior to his death in 2020 at the age of 88.
As a partner at Novak | Costello, Russell viewed his role as an entrepreneurial partner to his clients, helping them find and implement strategies to increase revenue while decreasing expenses and tax liabilities.
Complex real estate planning, financial transactions, estate and tax planning, and consulting were his specialty areas. Russell had far-reaching experience in negotiating and structuring the sale of businesses and property, configuring financial agreements with lenders, and negotiating settlements with creditors.
His forthright style of business drove Russell to excel, achieving the best solutions to both tax and business problems. He drew on his competitive spirit, wealth of experience, and inquisitive nature to provide a unique point of view in pursuit of winning business results.
Apart from business consulting and accounting, Russell shared a personal passion for unique artwork that is found both at Novak | Costello and outside the firm’s office. He first gained an appreciation for art more than 30 years ago through one of his clients. That mutual interest evolved into a collection that would rival many galleries.
Russell graduated from Roosevelt University in Chicago. He was a member of the American Institute of Certified Public Accountants (AICPA) and the Illinois CPA Society.
Contact information:
Novak | Costello CPA Group, LLC
225 West Illinois Street, Suite 450
Chicago, IL 60654
P: 312-464-2944
F: 312.222.1377
