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

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

Archive