Commercial Lease Laws in Illinois
Don't sign a lease in Illinois until you understand the local statutes, tax implications, and common landlord traps.
Key Statutes & Considerations
Commercial property taxes in Cook County are among the highest in the US. Ensure you have the right to contest assessments.
Common Red Flags in Illinois
Commercial real estate in Illinois typically favors the landlord in standard lease drafts. Whether you are in Springfield or elsewhere, you need to watch out for:
- Uncapped NNN Charges: Variable costs like property taxes and insurance can skyrocket.
- Broad Indemnification: Clauses that require you to pay for the landlord's negligence.
- Relocation Clauses: Rights for the landlord to move your business to a worse location.
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Frequently Asked Questions
Is a Triple Net (NNN) lease legal in Illinois?
Yes, NNN leases are the industry standard for commercial retail and office space in Illinois. They shift the burden of property taxes, insurance, and maintenance to the tenant.
Can I negotiate my commercial lease in Illinois?
Absolutely. Unlike residential leases, commercial leases are presumed to be negotiated between equal parties. Never sign the first draft.