350 South Northwest Highway, Suite 102 Park Ridge, IL 60068

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    Commercial Leasing

    Commercial lease agreement

    A commercial lease is a complex agreement that sets forth the terms by which a business owner rents property from a landlord. More importantly, it is a document designed to allocate risk between the parties. Since the consequences of each lease provision can be severe, it is essential for both the landlord and tenant to be represented by an attorney with extensive experience in commercial leasing. Over the course of almost 30 years, Richard P. Sora has represented both landlords and tenants in negotiating, reviewing and drafting commercial leases for all types of properties, from small businesses, medical practices and restaurants to nationally recognized retail outlets. In addition, as the attorney for a major suburban shopping mall, Mr. Sora has negotiated and litigated lease related disputes involving over a hundred different business tenants. With this experience, our office is highly qualified to advise you regarding a multitude of commercial lease issues such as:

     

    -          Allocation of real estate taxes and common area maintenance expense (CAM)

    -          Security deposits and letters of credit

    -          Repair and maintenance obligations

    -          Construction allowances and tenant build-out

    -          Liability and indemnification

    -          Options for renewal and expansion

    -          Covenants not to compete

    -          Environmental hazards

    -          Early termination, assignment and sub-letting

    -          Americans with Disabilities Act (ADA) compliance

    -          Stark Law, HIPAA and Anti Kick-Back Statute compliance for leases involving health care providers

    -          Personal Guarantees

    -          Consequences of default

     

    A commercial lease will usually contain a minefield of potential problems for a tenant. On the other hand, a bad tenant can cost a landlord a lot of time, energy and money. Never sign a lease without first having it reviewed by a qualified commercial leasing attorney. Call our office today for a free, no obligation initial consultation. We’ll make sure you understand what you’re signing and more importantly, we’ll help you minimize your risks.