Insights
Before signing a lease, you want to make sure you are happy with the terms for the entire lease duration. To do this, you must understand the internal pieces of a lease so you can negotiate favorable terms with the landlord.
The best way to navigate the tricky landscape of a lease is to stay current on all the common phrases, clauses and definitions. You may have a general understanding of the terms, but it takes a professional to really navigate the ins and outs. Here are a few of the most common points you may...
Recently, the Financial Accounting Standards Board (FASB) updated their standards effectively changing the way companies must list their lease on their balance sheet. This will undoubtedly have rippling effects on businesses, and the leasing process as a whole. The update has the potential to alter the landscape of the commercial real estate lease.
Chicago is the third largest city in the United States which means there is a deep pool of potential office spaces to fit just about any business. Prior to beginning the search for new space, many of our clients are interested to know what exactly is involved in the process. Through our experience we’ve assembled...
Chicago’s Top Commercial Real Estate Broker, William Himmelstein, shares insights on what to expect when looking for office space in 2021 and offers tips on navigating the commercial real estate landscape. While many businesses continue to extend their work-from-home policies as the pandemic wears on, many owners report plans to return to the office. Some...
Welcome to the topic “What To Expect When Looking for a Medical Space“ As a healthcare professional, choosing the perfect medical space is a fundamental decision. It’s not just about the space itself but also about creating a conducive environment for your patients and your staff. This comprehensive guide will provide insights into what you...
Chicago is the third largest city in the United States, which means there is a deep pool of potential medical spaces to fit just about any practice. Prior to beginning the search for new space, many of our health care clients are interested to know what exactly is involved in the process. Through our experience...
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,...
When you find your new space, there are other expenses to consider besides rent. Here are a few items that you may want to incorporate in your budget.
Welcome to the topic “What Is Office Tenant Representation And Why Do You Need It” Finding a desirable and suitable office space can be an incredibly tough feat. For one thing, you often have limited choices that will work with your size, location and budget. There are also so many additional factors to consider. Then,...
Prior to beginning the search for new space, many of our clients are interested in understanding what exactly is involved in the process. Below is an outline of the key steps involved in finding new space for your business. 1. A tenant representative broker assembles a market survey of options that fit the Client’s criteria...
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...
As rental rates continue to rise for commercial space in the near west side, companies moving to LaSalle Street and the Loop are reaping the benefits. The Loop has been experiencing a strong push in building upgrades, amenities and renovations thanks to the success of River North and River West. The end result is a...
Voyage Chicago reached out to Bill Himmelstein to dive deep into the history of how Tenant Advisory Group began, and the foundation it was built upon.
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...
Welcome to the topic “Upfitting Commercial Space To Fit Company Brand“ No business can thrive unless its employees are happy and satisfied to be a part of the company. This is primarily why every good business leader gives utmost importance to their team. However, with the pandemic, people have become more inclined to work remotely....
Move over Fulton Market, we have some new players ready to take the spotlight. The Southwest Loop, South Loop and Old Town are hot with activity and ready to make their mark. Check out what makes these three contenders a dream for investors, commuters and brokers alike.
Welcome to the topic “Unlocking Value with Sale-Leaseback Transactions“ Business owners across the country are raising capital for their companies by unlocking the power of sale-leasebacks. Sale-leasebacks are a type of financial transaction where a business sells its owned real estate property to an investor or buyer, and then leases back the same property from...
When you’re looking for a new space, having a budget is essential. As you check out potential locations it’s important to understand the not-so-obvious costs that may pop up as you transition to your new place.