Insights
Commercial leasing agreements commonly extend up to 10 years – or longer – making negotiations key to long-term savings for your business. One of the greatest opportunities to reduce your monthly cost is rent abatement, or free rent. As you begin the discussion with a lessor, it is important to understand what rent abatement is...
“Giving starts the receiving process.” – Jim Rohn
In a time where the commercial real estate industry is as fast-paced and as dynamic as ever, having helpful insight and advice about what’s important and what’s working (or not) can help anyone learn as they go. We’ve launched an all-new series with MeetAdvisors.com – “Commercial Real Estate: What I Know Now and Wish I...
When coworking companies came onto the scene, they quickly became a tool for commercial real estate brokers to help young and small business owners find a temporary space. However, this symbiotic relationship may be in jeopardy with the announcement of WeWork’s tenant representation services as brokers will be far less likely to bring their clients...
The red hot downtown Chicago commercial real estate market remains a popular destination in 2017 with more top corporations seeking spaces in the city. With a shift in how companies structure themselves internally, the growth of importance on office culture is a driving force behind the downtown exodus. The momentous surge of incoming corporations will...
Welcome to the topic “Women in Commercial Real Estate“ There’s a reason that women in commercial real estate have managed to carve a niche for themselves in the field. Yes, the world of commercial real estate has traditionally been dominated by men. But in recent years, we have seen a significant shift towards a more...
How much is the market going to go down and how much rental reductions are we going to see? TAG CEO Bill Himmelstein advises keeping an eye on climbing vacancy rates and dropping rental rates, which may result in great opportunities for tenants in this coming market.
Welcome to the topic “What To Expect During The Tenant Representation Process“ Many people can be skeptical of using tenant representation in their lease transaction, mainly because they don’t know the benefits. It’s surprising how so many are still unaware of how a tenant representative broker can assist in making their leasing transaction easier, smoother,...
Every month, Tenant Advisory Group hosts an Executives Bruncheon to provide an opportunity for Chicago business leaders to build new, meaningful connections and discuss topics relevant to running a business. During June’s Executives Bruncheon, attendees were prompted with the question: ““What’s the biggest challenge you’ve overcome in your professional career?”” Here are a few of...
This is a question that has been posed to me hundreds of times in my career. The answer is simple: now! What I mean by that is you should review your lease on a yearly basis. A company’s business should drive its real estate needs, not the other way around. The real estate should support...
Site Selection magazine has listed Chicago as the best city for corporate investment for the fourth consecutive year. This comes as little surprise with the long list of large corporations that have been moving their headquarters into downtown Chicago. So, what makes this city such an attractive investment for businesses?
The Chicago commercial real estate market is enjoying a 15-year low in its downtown vacancy rates, hitting 11.7 percent during the second quarter of 2016. This is the lowest Chicago has seen since 11.6 percent in 2001. The surge of businesses moving downtown has been a driving factor in reducing the vacancy rates and contributing...
Bill Himmelstein speaks frequently about the importance of negotiation and how to become a successful negotiator. His last seminar honed in on the importance of negotiation when securing your lease. Below are his 10 Tips to a Successful Lease Negotiation.
From founding a company to raising money to launching a new product. Each stage of an entrepreneur’s journey is crucial – and certainly at every stage of growth. It’s not always talked about but short of what you pay your employees, office space is often a startup’s largest fixed expense. Finding the right office space...
Leasing the perfect office space can be a very difficult and daunting task. With so many variables from parking to flooring, finding the perfect space can feel nearly impossible. Start looking internally within your own business. Really understanding your business’ needs will allow you to discern between trends, lofty dreams and reality.
Bill Himmelstein, the founder and CEO of Tenant Advisory Group, has been honored with a nomination for the Broker of the Year Award 2024 by the Illinois Real Estate Journal. This recognition is a testament to Bill’s hard work and dedication in the real estate industry. Additionally, Tenant Advisory Group has been nominated as a...
Welcome to the topic “Google’s Thompson Center Renovation: Revitalizing Chicago’s Loop and Its Economy“ The ongoing renovation of the Thompson Center by Google marks a significant turning point for Chicago’s Loop, attracting the attention of new and existing businesses to the area. Among the latest to make the move to the Loop is Lessen, a...
How to build a better office space for your business and get the most value for your money, with these four tips
Welcome to the topic “Opportunities for Chicago Business Owners in 2025“ The downtown office market in Chicago is now facing a shift. In the second half of 2024 the office vacancies reached 26.3% – which settled a new record high and marked the 10th consecutive quarter of rising vacancy rates. This new vacancy rate is...