For any new start-up buisness seeking to establish a brick-and-mortar or retail space, the commercial lease will be its biggest liability. For example, most commercial leases will be for a period of five (5) years and if the base rent and additional rent add up to $2,000 a month, the liability on this commercial lease agreement is, at a minimum, $120,000 dollars (2*12 = 24 * 5 = 120). Most new business owners do not think of this realization and poses a huge risk for many business owners looking to establish themselves. Moreover, commercial lease generally do not favor the tenants and events of default, potential commercial litigation can be devastating to the business owner professionally and personally.
Our Chicago corporate lawyers routinely counsel business clients in the review and negotiation of commercial lease agreements. We are acutely aware of the risks involved for the business owner and will advocate on his or her behalf to ensure their best interests are represented in the commercial lease agreement.