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

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

Archive