DGAA bLAWg

Commercial Leasing in the Chicago Suburbs

Web Admin - Thursday, May 22, 2014

The suburban Chicago commercial leasing market has seen a slight recovery as compared to the depths of the recession, but the revival appears to be sluggish. According to Crain’s Chicago Business, the market currently has an overall vacancy of approximately 24.4 percent. That number is an improvement over the low point of the recession, 25.4 percent in 2010, but it is still a long way off from 2006, during which it fell below 20 percent.

Despite this merely modest improvement, there has actually been a noticeable increase in asking rents, up 12 percent to an average of $21.94. Some experts believe that this rise in asking price relates to the fact that most owners who were in danger of losing their properties have either recovered or gotten out of the market by now. This means that current landholders are more apt to sit and wait than they are to engage in a race to the bottom over prices as they had done in the past. Consequently, hiring an attorney to help negotiate the lease can be even more beneficial.

The Benefits of Involving an Attorney

Both first time lessees and experienced business owners can benefit from investing in a savvy real estate attorney during lease negotiations. Leases are legal documents just like any other contract, and just like many other contracts, they can be filled with dense legalese. Lawyers specialize in dissecting such complex provisions, so that the business owner can be sure they understand exactly what they are agreeing to.

Yet the attorney can add more value than simply translating the lease. Experienced real estate attorneys understand the sorts of provisions likely to appear in a lease. This means that getting an attorney involved early can help negotiations move along more smoothly. Often, business owners, especially those new to commercial leasing, sketch out broad strokes of the lease in negotiations, focusing on key points like price and size of the space. Then, once they feel they have reached a final agreement, the landlord provides the full lease, and the lessee discovers other provisions like janitorial services that the initial negotiations did not cover.

This necessitates reopening negotiations after it appeared that everything had been finalized. Involving a lawyer earlier in the process can prevent such problems from arising. Lawyers with experience negotiating commercial leases can help business owners see the full field of lease terms and allow them to negotiate with confidence.         

Whether you are just beginning to think about buying space or you already have a potential lease ready for review, reach out to an Illinois commercial real estate attorney today. Our experienced team can help analyze your lease and aid you in negotiating the most advantageous deal possible. We serve clients across the northwest suburbs, including in Arlington Heights, Long Grove, and Mount Prospect.

About the Author: Founding partner of Drost, Gilbert, Andrew & Apicella, LLC, Colin Gilbert, received his J.D. from Chicago-Kent College of law in 2005. Colin argues cases across many practice areas including criminal defense, collections, civil litigation, real estate law, and corporate law. Colin is an active member of the Board of Governors of the Northwest Suburban Bar Association and the Illinois Creditors Bar Association. He is currently Vice President of the Arlington Heights Chamber of Commerce, and is a Commissioner for the Village of Arlington Heights. Colin has a 10.0 Attorney rating on Avvo, and was named one of the 2014 “Top 40 Under 40” Trial Lawyers in Illinois by the National Trial Lawyers Association.


Recent Posts


Tags

Affordable Care Act Illinois injury lawyer compensatory time landlord slip and fall Rolling Meadows personal injury lawyer foreclosed rental property trucking accident lawyers Self-Directed IRA Accounts Arlington Heights criminal lawyer Schaumburg insurance lawyers pedestrian-automobile accident Schaumburg Attorney CAM corporate law Crystal Lake criminal defense attorney Inverness civil lawyer Barrington estate planning lawyer Rolling Meadows personal injury lawyers Federal Food Drug and Cosmetic Act federal crimes estate plan Home Sale Contingencies pay when paid contract POA controlled substance employee rights Arlington Heights car accident lawyer digital media accounts, estate planning, Arlington Heights estate planning attorney, federal regulations for LLCs Rolling Meadows estate planning attorney Illinois business lawyer speeding independent contractor Chicago will attorney commercial leases Illinois job attorney disability benefits Barrington boating accident attorney Rolling Meadows traffic law firm Illinois estate planning personal injury lawyer personal injury claims owner responsibility Crystal Lake medical malpractice lawyer IRA trust transfer underage DUI Inverness accident lawyer Palatine corporate law attorneys Deer Park motorcycle accident lawyer attorney fees elder law underfunded trust unpaid assessment drunk driving Illinois personal injury lawyer gift taxes internet Crystal Lake car accident attorney Illinois will lawyer LLCs slip and fall accidents estate attorney drunk driving statistics insurance claim Barrington personal injury lawyer problem employees estate planning Palatine traffic lawyer murder charges Des Plaines pet law attorney DUI penalities Crystal lake insurance dispute attorney Barrington employment law firm Colin H. Gilbert expungement Illinois boating accident lawyer suspended license paid sick leave investment property back injuries estate planning lawyer boating accidents Legal Info motorcycle accident lawyer comparative negligence life insurance lawyer swimming pools insurance claim denial financial advisors surgical mistakes Des Plaines drug crimes lawyer Arlington Heights wills and trusts lawyers child safety Illinois insurance disputes Thanksgiving Palatine personal injury lawyer meal breaks fiduciary rule Rolling Meadows criminal attorney Illinois lawyer civil litigation attorney Illinois small business insurance agents Mount Prospect real estate lawyer defective products lawyer Long Grove estate planning attorney Crystal Lake pedestrian accident lawyer Illinois traffic laws Inverness elder law lawyer Barrington litigation attorney living wills workers comp license reinstatement Palatine business attorney estate planning, digital assets, Revised Uniform Fiduciary Access to Digital Assets Act, Illinois digital assets, Illinois estate planning, Des Plaines DUI attorney Long Grove real estate lawyer Illinois employment law firm Palatine civil litigation lawyer Illinois Workers’ Compensation Commission insurance claims Schaumburg corporate attorney Illinois traffic attorneys Illinois estate planning law firm car crashes digital assets construction accidents, personal injury, wrongful death, Arlington Heights personal injury attorneys, workers' compensation involuntary manslaughter truck collisions ACA Illinois insurance dispute lawyers Chicago estate planning Deer Park employment law attorney institutional trustee jet ski accidents Illinois employment attorneys low-ball insurance settlement manufacturing deadly crashes Deer Park traffic lawyer cell phone accidents employment law, Illinois employment laws Rolling Meadows real estate attorney car accident lawyers medical malpractice social media after death insurance denial appeals Des Plaines motorcycle accident attorney job lawyers BUI Mount Prospect elder law attorney license revocation Schaumburg real estate lawyer elder abuse Illinois employment laws Illinois speeding lawyer Illinois criminal defense attorney Palatine construction attorney Schaumburg criminal attorney reckless homicide natural gas subcontractor Forcible Entry Illinois home inspection Illinois car accident attorney Schaumburg personal injury lawyer Rolling Meadows Traffic Lawyer boating under the influence texting while driving Rolling Meadows traffic attorney living trust vs will Schaumburg estate planning attorney eluding a police officer rumble strips Buffalo Grove personal injury lawyer Des Plaines civil attorney Chicago employment attorney Deer Park real estate law firm Fourth of July gift tax exemption, estate planning, estate planning strategies, Illinois estate planning, South Barrington estate planning attorneys tax attorney Crystal Lake bike accident lawyer employment lawyer Buffalo Grove medical malpractice lawyers medical malpractice claims blended families Illinois attorney Deer Park workers compensation lawyer spinal cord injury Deer Park traffic accident attorney Illinois bicycle safety field sobriety test Barrington medical malpractice lawyers senior citizens Chicago will attorney, social media platforms, Illinois estate planning lawyer, Inverness personal injury attorney Arlington Heights employment law attorneys residential real estate Barrington business law firm real estate contract Illinois Human Rights Act unfunded trust bike accident Illinois law automated cars guardianship attorney insurance claim delay Palatine employment attorney digital information Palatine real estate lawyer Fair Labor Standards Act work unions accidental death benefits Illinois registered agent Palatine corporate attorney drug crimes lawyer dynasty trusts Buffalo Grove traffic attorney Arlington Heights traffic attorney Rolling Meadows accident lawyer Palatine employment lawyer healthcare startup company Illinois driving without license employee misclassification Crystal Lake medical malpractice law firm Schaumburg traffic lawyer Colin Gilbert medical marijuana insurance agent negligence Chicago attorney workers compensation benefits Rolling Meadows corporate lawyer real estate leasing Palatine traffic accidents Crystal Lake pet attorney traffic violations bad faith insurance claims probate lawyer creditors insurance denials defective products Illinois insurance attorney taxes Des Plaines Illinois medical malpractice case spinal cord injuries Arlington Heights employment attorney Inverness probate lawyer appealing an insurance claim Buffalo Grove criminal defense lawyer trauma after an accident Liquor Control Act pedestrian accidents insurance claim dispute Crystal Lake employment law attorney vacation home fines trench injuries Schaumburg car accident attorney Illinois insurance claim dispute lawyers Illinois insurance lawyer Illinois employment lawyer Rolling Meadows tax attorney Rolling Meadows litigation lawyer IRA benefits Palatine estate planning lawyer ObamaCare head on collisions car accidents criminal law car crash injuries Des Plaines Traffic Lawyer Illinois civil litigation lawyer Jay Andrew life insurance policy Barrington civil litigation attorney Arlington Heights pedestrian accidents commercial leasing Illinois living will Buffalo Grove law firm Illinois probate lawyer Des Plaines drug lawyer Illinois workers compensation attorney Inverness estate planning lawyer Rolling Meadows insurance dispute lawyers Illinois personal injury lawyers clemency probate claims process caregiver Chicago insurance claim attorneys Des Plaines real estate attorney Kenilworth estate planning attorney Des Plaines claims law firm Arlington Heights TBI attorney blood alcohol content life insurance claims Buffalo Grove probate lawyer Palatine injury attorney license Arlington Heights medical malpractice lawyer Buffalo Grove personal injury attorney Crystal Lake tax lawyer DNR Inverness real estate attorney jet ski Crystal Lake employment lawyer Buffalo Grove insurance claim dispute lawyers liability claims breach of contract Schaumburg probate attorney Illinois DUI attorney Arlington Heights Attorney car accident insurance disputes traffic deaths Arlington Heights wills and trusts lawyer unauthorized overtime drugs business litigation food poisoning BAIID Rolling Meadows drug defense attorney Barrington attorney Schaumburg injury lawyer Mount Prospect wills and trusts lawyers probate insurance dispute, insurance dispute lawyers, insurance claim denial, insurance claim delays, Rolling Meadows insurance dispute attorneys Illinois real estate lawyer Crystal Lake traffic attorney medical malpractice, missed diagnosis, delayed diagnosis, medical mistake, Deer Creek medical malpractice lawyers Illinois wrongful termination lawyer no contest clauses traffic accidents pedestrian injuries, pedestrian fatality Schaumburg construction accident lawyer Crystal Lake personal injury lawyer distracted driving accident victims natural gas explosion landlord tenant law FSLA Rolling Meadows Attorney Schaumburg civil litigation attorney Palatine drug lawyer Illinois pet lawyer pet law Des Plaines tax law firm special needs trust drug crimes Long Grove estate planning Illinois employee discrimination Illinois Sales Representative Act Illinois personal injury Barrington personal injury attorney denial of life insurance car accident lawyer trucking accidents driving Arlington Heights car crash attorneys Palatine insurance lawyer Schaumburg wrongful death attorney products liability digital assets, digital fiduciary, estate planning, digital content, Long Grove estate planning lawyers Barrington criminal defense lawyer Illinois medical malpractice claim criminal defense modern family estate planning Illinois jet ski accident lawyer trusts homestead rights Rolling Meadows business lawyer minimum wage real estate attorneys agent privacy Illinois Wage Payment and Collection Act fiduciary rule delay Barrington employment attorney Arlington Heights wills and trusts attorneys pregnant women Illinois Smoke Detector Act Inverness insurance attorney School Visitation Rights Act Crystal Lake medical malpractice attorneys whistleblower protections fatal car accidents Rolling Meadows employment law attorney home inspection lawyer Arlington Heights injury attorney Long Grove wills and trusts attorneys civil rights violation pizza emoji Des Plaines medical malpractice attorney Des Plaines collections attorney Inverness traffic law firm Buffalo Grove real estate attorney traffic violations defense Arlington Heights personal injury attorney underinsured motorist Illinois employment law attorneys workplace sexual harassment GM ignition switches Home Remodeling Repair Act fault based insurance employees personal injury accidents severance agreements wills and trusts Policy Cancellation Illinois mortgages insurance dispute attorney criminal record liens Chicago lawyer Illinois Transfer on Death Instrument Deer Park DUI lawyer Illinois medical malpractice lawyers Illinois personal injury attorney Rolling Meadows personal injury attorney Buffalo Grove car accident lawyer insurance attorney Schaumburg drug defense lawyer Illinois trucking safety Deer Park criminal attorney Illinois workplace lawyer Inverness DUI lawyer Buffalo Grove employment lawyer Illinois Trust Code real estate attorney caretaker rights rollover accidents license suspension hiring employees Buffalo Grove corporate attorney wrongful termination, employment law, whistleblower protections, Illinois employment laws, discrimination in the workplace Illinois traffic ticket lawyer Barrington Traffic Lawyer wrongful termination Illinois Probate Act of 1975 Rolling Meadows car accident lawyers dog bites installment contracts Rolling Meadows employment attorney Des Plaines personal injury lawyer Chicago estate planning lawyer loopholes construction contracts cell phone tower data Illinois tax attorney contracts car crash Barrington drug crime attorney traumatic brain injury Palatine law firm Palatine Attorney Illinois employment law attorney Palatine criminal defense lawyer Crystal Lake civil litigation lawyer Crystal Lake personal injury attorney living trust benefits changes to mortgage law Rolling Meadows boating crash lawyer personal injury law firm Chicago corporate attorney condo auto accidents real estate closing Crystal Lake law firm South Barrington real estate attorney Illinois pedestrian accident attorney dealing with problem employees Attorney Ken Apicella Schaumburg personal injury lawyers Retaliatory Discharge Rolling Meadows insurance dispute lawyers, insurance dispute Illinois defective products attorney hands free device mass shooting probate claims IRS probate fees privacy laws Riverwoods estate planning lawyer Schaumburg employment attorney uninsured motorist Arlington Heights insurance attorney Schaumburg estate attorney Crystal Lake will lawyer Rolling Meadows Arlington Heights Traffic Lawyer marijuana crimes attorney power of attorney for healthcare Long Grove real estate attorney denied insurance claims traffic laws pain and suffering ken apicella college kids health insurance dispute preventable medical errors Illinois medical malpractice attorney murder Deer Park accident attorney DUI attorney Des Plaines real estate lawyer drug crime wills Illinois elder law attorney overtime pay Palatine trusts lawyer Chicago traffic lawyer Arlington Heights tax lawyer Illinois corporate lawyer coronavirus Illinois employment law condo association employment contract anesthesia errors income distribution deducation Deer Park personal injury lawyer product liability insurance negligence rest breaks employment law Rolling Meadows marijuana attorney right to work in terrorem provision Schaumburg medical malpractice lawyer Arlington Heights trucking lawyer premises liability Exclusions Illinois motorcycle accident lawyer Barrington estate planning attorney Illinois collections attorney Arlington Heights accident attorney Illinois insurance claim dispute lawyer insurance disputes, Illinois insurance disputes, Illinois insurance dispute attorneys, denied insurance claims, Arlington Heights insurance dispute attorneys Transfer on Death Instrument Chicago car accident lawyer traumatic brain injuries cell phone Landlord Tenant Ordinance Joliet general practice lawyers traffic tickets Employment Discrimination Law filing a medical malpractice claim trust payments pedestrian accident medical research Deer Park medical malpractice attorney vacation home Family Medical Leave Act Mt Prospect Attorney rollover car crashes Des Plaines accident attorney dram shop law Arlington Heights personal injury lawyer deed transfer Rolling Meadows medical malpractice lawyers criminal murder defense Barrington criminal lawyer mortgage PTSD Illinois real estate sexual images Illinois trusts attorney Kenilworth estate planning lawyer Chicago trucking accident attorney Illinois LLC creation Des Plaines criminal attorney Illinois traffic attorney denied insurance claim overtime violations consent to a search Rolling Meadows employment law attorneys Crystal Lake insurance lawyer Schaumburg Illinois construction accident attorney Barrington employment law attorney Illinois rollover accident lawyers Chicago insurance law firm Barrington injury attorney Palatine probate lawyer workers compensation Do Not Resuscitate Illinois red light cameras preventing accidents hit and run accident Palatine civil attorney rent to own real estate contracts personal injury attorney irrevocable trust Schaumburg personal injury attorney Des Plaines personal injury attorney sexual harassment golf accidents wrongful death Rolling Meadows DUI lawyer Inverness real estate lawyer trustee healthcare claims capital gains tax comp time personal injury personal injury claim Barrington workers compensation attorney Illinois workers compensation lawyer Crystal Lake employment attorney FMLA Detainer Actions Crystal Lake car accident lawyer distracted driving accidents commercial real estate South Barrington real estate lawyer medication errors breathalyzer test Crystal Lake estate planning lawyer life insurance DGAA new real estate form boating DUI icy parking lots Barrington Illinois estate planning lawyer bicycle dooring accidents estate planning attorney employment attorney Class A misdemeanor Chicago biking tips estate planning for college students Crystal Lake accident attorney Barrington real estate lawyer Palatine elder law attorney Illinois traffic accident lawyer Arlington Heights real estate lawyer DUI construction accidents probate process IRELA marijuana Des Plaines injury law firm revenge porn estate tax Arlington Heights estate planning attorney traffic offenses Des Plaines insurance attorney Schaumburg elder law lawyer Illinois business law atorneys Palatine punch death Schaumburg criminal law attorney BAC Illinois insurance claims lawyers unpaid overtime living trust Inverness corporate attorney DMV Rolling Meadows criminal lawyer Rolling Meadows insurance lawyer liability Schaumburg estate planning lawyer personal injury, auto accident injuries, delayed injuries, serious injuries, Des Plaines personal injury attorneys llinois Real Estate Lawyers Association brain injury Buffalo Grove injury lawyer real estate zoning Crystal Lake business law attorneys insurance claim dispute attorney employment law, meal breaks, rest breaks, hotel employees, Des Plaines employment law attorneys Crystal Lake traffic lawyer holiday statistics Illinois wills and trusts attorneys insurance adjusters Illinois wills and trusts DUI defense motorcycle accident Rolling Meadows insurance attorney loss of consortium medical malpractice compensation Des Plaines personal injury lawyers Super Mario Illinois employee rights attorney. insurance dispute drug possession TBI Arlington Heights wills and trusts attorney Long Grove estate planning attorneys Illinois workplace discrimination attorney Whistleblower Claims traffic crimes Buffalo Grove traffic lawyers foreclosure real estate forming a corporation in Illinois Inverness injury lawyer estate planning trusts Schaumburg employment law attorneys employment contract, employment law, employment at-will, Deer Park employment law attorneys, contract, first degree murder civil litigation car collision Illinois estate planning attorney bicycle accidents pet bites nursing home negligence estate planning, death tax, succession plans, business estate plans, Barrington estate planning lawyers digital evidence power of attorney Food and Drug Administration's Food Safety Modernization Act real estate lawyer small business insurance claim denials wage theft operating agreements texting and driving sole proprietorship advance healthcare directive Palatine workers compensation lawyer Illinois insurance claim attorney Arlington Heights lawyer Rolling Meadows probate lawyer crossover accidents Crystal Lake injury attorney Chicago employment lawyer Palatine employment law lawyer Kenilworth estate planning attorneys

Archive