Client Results
Office Lease Results: What Chicago-Area Tenants Saved
In the engagements below, Tenant Advisors cut tenants' net rent by 18% to 48.8% and captured more than $2 million in concessions on each of two headquarters moves. Every case is a real deal we negotiated for an office tenant. We represent tenants only, never landlords.
Updated October 2026
Our fee is paid by the landlord as part of any standard commercial lease. It is never billed to the tenant.
At a Glance
What did Tenant Advisors save its clients?
Eleven engagements, one line each. Select a case to read how the deal was negotiated.
| Case | Type | Location | Size | Outcome |
|---|---|---|---|---|
| 17 Months Rent-Free, $2.2M in Value Captured | HQ Relocation | Oak Brook to O'Hare | About 30,000 SF | $2.2M+ in concessions |
| Doubling the Footprint, $2.1M in Value Captured | Relocation + Sublease | Oakbrook Terrace to West Loop | Doubled footprint | $2.1M+ in concessions and sublease recovery |
| 48.8% Lower Net Rent Without Moving | Restructure | Schaumburg | 12,600 SF | 48.8% lower net rent |
| 20% Lower Net Effective Rent in a Furnished Oak Brook Office | Relocation | Oak Brook | 4,400 SF | 20% lower net effective rent |
| Suburbs to Downtown Class A, Fully Furnished, at $24.50 Gross | Sublease | Des Plaines to the Loop | 11,440 SF | $24.50/SF gross, fully furnished |
| 18% Lower Rent Two Years Before Expiration | Early Lease Renewal | Schaumburg | 8,000 RSF | 18% lower net rent, $140K+ in concessions |
| 32% Lower Rent + Landlord-Funded Renovation | Renewal | Schaumburg | 12,000 SF | 32% lower net effective rent |
| Big-Tenant Terms on a First-Time Lease | New Lease | Chicago area | Not disclosed | 29% lower net effective rent |
| 26% Lower Rent on a Class A Relocation | Relocation | Chicago area | Not disclosed | 26% lower effective net rent, plus rent abatement |
| 60% Smaller Footprint on a 5-Year Term | Right-Size | Chicago area | 60% reduction | 60% smaller footprint |
| 125,000 SF Pivot to In-House Logistics | Industrial | Chicago area | 125,000 SF | 125,000 SF in a newly renovated facility |
Client names are withheld. Dollars, square footage and deal structures are actual.
Case Studies
Eleven client engagements, in detail.
Each case below is a real engagement. Names are withheld; the dollars, square footage and structures are not.
17 Months Rent-Free, $2.2M in Value Captured
A life insurance company in Oak Brook needed about 30,000 SF for a new headquarters with room to grow.
Read the full case
Ran two O'Hare buildings against each other, using the second landlord's unsolicited offer to push the preferred building through several rounds of proposals and off its first rate. Secured rent-free early occupancy during the build-out, a full improvement package, and growth rights on two floors. Went from signed LOI to an execution-ready lease in seven weeks.
- $40/SF improvement allowance (about $1.2M)
- 11 months gross rent abated (about $679,000)
- About 6 months of rent-free early occupancy before the lease started (about $370,000)
- 5% cap on controllable operating expenses for the full term
- Early termination option, right of first offer and expansion rights on two floors
- Top-of-building signage and 10 reserved underground parking spaces
- Used its expansion rights the next year when its call center hit capacity
Related: O'Hare office market · Office relocation and site selection
Doubling the Footprint, $2.1M in Value Captured
A private equity-backed consumer packaged goods company opened its Oakbrook Terrace headquarters and, within 16 months, needed to double its space and move downtown, closer to its young professional workforce. It still had more than four years left on its suburban lease.
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We ran two parallel tracks so the client would never pay rent on two offices. For the new headquarters, we toured 7 buildings and compared finalists on full effective cost, then negotiated the winning landlord off its first offer: lower rent, a doubled allowance, free parking, a renewal option, and a year-5 exit with no added penalty. For the existing space, we built a sublease program and priced it to draw strong demand. Two qualified subtenants went head to head, and the bidding war produced a sublease rate 22% above what we expected without competition. We recommended the stronger credit, and the sublease covers the full remaining term, with rent due the same day as the client's own. The two deals closed within 60 days of each other.
- Brand-new spec suite in the West Loop, built and furnished by the landlord (about $1.13M)
- 7 months gross rent abated (about $323,000)
- Moving and cabling allowance ($88,680)
- 2 reserved parking spaces at no cost for the full term (about $106,000)
- About $510,000 recovered by subleasing the suburban space through 2030
- $0 subtenant-side commission and zero months of double rent
- Ready to occupy on day one
Related: Chicago CBD office market · East-West Corridor office market · Sublease and disposition
48.8% Lower Net Rent Without Moving
A professional services tenant in Schaumburg was four years from expiration on a lease with an outdated base year, and rising taxes and operating expenses were adding $81,600 a year on top of base rent.
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Timed the negotiation to the tenant's early termination window to maximize leverage with new ownership. Benchmarked occupancy costs and showed that the stale base year, not the rental rate, was the problem. Restructured the lease to reset the base year to the current year while keeping the original rent schedule, in exchange for a term extension.
- $104,514 saved in year one
- 3 months of free rent
- $20/SF refurbishment allowance, convertible to rent credit
- 5% cap on controllable operating expenses
- Expanded right of first refusal, façade signage and added reserved parking
Related: Northwest Suburbs office market · Lease audit and occupancy cost reduction
20% Lower Net Effective Rent in a Furnished Oak Brook Office
A growing professional services firm needed a move-in-ready 4,400-SF office in Oak Brook without paying for build-out or furniture.
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Surveyed move-in-ready suites across the western suburbs, targeted space with reusable improvements and furniture, and negotiated the economics and lease language together, securing seven months of gross free rent, a moving allowance, furniture, parking and expansion rights.
- Net effective rent dropped from $23.85/SF to $19.04/SF over the 67-month term
- $118,272 in concessions: 7 months free base rent ($57,108), 7 months free operating expenses and taxes ($30,364), and a $7.00/SF moving allowance ($30,800)
- $118,272 ÷ $585,966 total base rent = 20.2% savings
- Existing furniture and 3 garage parking spaces at no charge
- 5-year renewal option and right of first offer on an adjacent suite
Related: East-West Corridor office market · Office relocation and site selection
Suburbs to Downtown Class A, Fully Furnished, at $24.50 Gross
A senior living management company had spent about 15 years in a Des Plaines office and wanted to move its headquarters downtown, without paying for a build-out, buying furniture, or committing to a long direct lease.
Read the full case
Ran direct and sublease options side by side across the Loop and West Loop, pricing space at Willis Tower, 10, 30 and 100 S. Wacker, 135 S. LaSalle, 200 W. Madison and 333 W. Wacker, with proposals out to several at once. Targeted a fully furnished 11,440-SF sublease at 333 W. Wacker, where the asking rate dropped from $26 to $24 gross during negotiations. Beat a competing subtenant offering more total rent and a larger deposit, then managed the sublease, master landlord consent, furniture transfer and early access for the move.
- Riverfront Class A space at $24.50/SF gross with no expense or tax pass-throughs (below the $26 original ask)
- 2 months of gross rent abated (about $47,000)
- Full furniture package included, with ownership transferred for $1 at term end
- 60 days of rent-free early access for IT and cabling
- About a 41-month term with no long-term direct lease commitment
- Master landlord consent secured
Related: Chicago CBD office market · Sublease and disposition
18% Lower Rent Two Years Before Expiration
An office tenant we placed in Schaumburg in 2020 was paying above-market rent with more than two years left on its lease, and its only renewal option was priced at a rate the landlord would set.
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Used the soft Northwest Suburbs market to open a blend-and-extend 26 months before expiration instead of waiting for the renewal option window. Reset rent to market immediately in exchange for a five-year extension, and negotiated abatement plus an allowance convertible to rent credit.
- Net rent cut from $19.50 to $16.00/RSF (18%), effective 26 months before expiration
- 2 months of net rent, operating expenses and taxes abated
- $12.50/RSF construction allowance ($101,625), convertible to rent credit
- Over $140,000 in total concessions
- Parking, conference room rights and storage kept at existing terms; renewal option carried forward
Related: Full case study · Northwest Suburbs office market · Office lease renewal negotiation
32% Lower Rent + Landlord-Funded Renovation
In 2025, a 12,000-SF Schaumburg tenant wanted to renew its lease but needed to update its dated layout and finishes.
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Standardized the requirement, set negotiation guardrails, and ran a parallel market search. Marketed the requirement to 6 competing buildings, ran a side-by-side total occupancy cost comparison, and brought 3 landlords into active negotiation. Used the relocation proposals as leverage to push the incumbent landlord on improvement allowance and free rent.
- 32% lower net effective rent than the landlord's initial renewal proposal
- Landlord-funded renovation of the dated layout and finishes
Related: Northwest Suburbs office market · Office lease renewal negotiation · Renewal vs. relocation analysis
Big-Tenant Terms on a First-Time Lease
A growing company moving out of executive suites for the first time, with no internal real estate expertise and a tight timeline.
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Built the requirements document from scratch, toured 8 buildings, ran financial modeling on the final 3, and negotiated the LOI and lease in parallel with two landlords to keep leverage live through signing.
- 29% lower net effective rent
- Five-year direct lease with terms typically only available to much larger tenants
Related: Office lease negotiation
26% Lower Rent on a Class A Relocation
A headquarters tenant was occupying dated space that was twice the size it needed after the pandemic.
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Toured 12 Class A buildings across the target submarket, narrowed to 4 finalists, and ran a head-to-head bidding process. Used construction cost escalation as a negotiating lever to push the winning landlord to turnkey the buildout.
- 26% lower effective net rent, plus rent abatement
- Landlord delivered extensive turnkey improvements during a period of rapidly escalating construction costs
Related: Office relocation and site selection · Available office space
60% Smaller Footprint on a 5-Year Term
A national company needed to reduce its footprint by 60% after the pandemic and wanted to limit its lease term to five years.
Read the full case
Built a shortlist of 9 Class A spec suites and 4 high-quality subleases, toured the top 6, and negotiated with 3 landlords in parallel. Held the 5-year ceiling and got a landlord to accept it on a spec suite with custom modifications.
- 60% smaller footprint on a 5-year term
- Spec suite with custom tenant changes and a shorter commitment than landlords typically accept
Related: Sublease, downsizing and disposition
125,000 SF Pivot to In-House Logistics
A logistics company needed to bring its warehouse function in-house, requiring a move from office to a warehouse facility. As the requirement evolved, the size grew from 50,000 to 125,000 SF.
Read the full case
Started the search at 50,000 SF and rebuilt the criteria twice as the requirement grew to 75,000, then 125,000 SF, pivoting from office to industrial mid-process. Toured 9 facilities and ran financial comparisons across 4 finalists.
- 125,000 SF in a newly renovated facility
- Search criteria scaled from 50,000 to 125,000 SF mid-process without losing momentum
Related: Office tenant representation
Google Reviews
What clients say on Google
“Tenant Advisors has been a valued member of the Schaumburg Business Association for more than 20 years. Most recently, they helped us negotiate our lease and did an outstanding job making sure the agreement was truly in the best interest of our organization. Their knowledge, professionalism, and guidance made the entire process much easier, and we always felt like we had a trusted advisor looking out for us. I highly recommend Tenant Advisors to any business negotiating a lease, renewing an existing lease, or looking for a new location.”— Schaumburg Business Association
“What sets Tenant Advisors apart is that they only represent tenants, so there was never a conflict of interest. They pushed back on lease terms we would have missed and saved us real money. If you’re renewing or relocating your office, talk to them first.”— Steve V.
“I’m a business attorney and I refer my clients to Tom Koelzer at Tenant Advisors for office leases. Tom represents tenants only, knows the landlord side, and negotiates deals that hold up when I review the lease. Responsive, prepared, and easy to work with.”— Patrick M., Business Attorney
“David was incredibly attentive, professional, and knowledgeable throughout the entire process. He understood our unique needs, navigated the local market, and negotiated the best terms. We’re now in a fantastic office that supports our growth.”— Barbara T., Candor Health Education
“Tenant Advisors did a phenomenal job helping us navigate the commercial real estate market. They found great office space for our law firm’s new headquarters. I can’t recommend their expertise, tenacity, and professionalism enough.”— Kevin F.
“They took the time to thoroughly understand our business goals, space preferences, and budget. They skillfully negotiated on our behalf, securing lease terms and concessions that exceeded our expectations. We’re now in an office space that aligns perfectly with our business needs.”— Thomas M.
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FAQ
Questions about our results
How much can a tenant representative save on an office lease?
In the engagements on this page, tenants cut net or net effective rent by 18% to 48.8%, and two headquarters moves each captured more than $2 million in concessions and recovery. Results depend on the market, timing, and how much competition the tenant can create among landlords.
Can I lower my rent without moving?
Yes. In one Schaumburg restructure we reset an outdated base year and cut net rent 48.8% without a move, saving $104,514 in year one. In a 2025 renewal, the tenant stayed put at 32% lower net effective rent than the landlord's first renewal proposal, with a landlord-funded renovation.
What does Tenant Advisors cost the tenant?
Nothing. Our fee is paid by the landlord as part of a standard commercial lease and is never billed to the tenant. We represent tenants only and never landlords, so there is no conflict of interest.
Are these real client results?
Yes. Every case is a real engagement negotiated by Tenant Advisors. Client names are withheld; the dollars, square footage, and deal structures are not.
What kinds of deals do you handle?
Lease renewals, restructures, new leases, relocations, headquarters moves, subleases and dispositions, and right-sizing, mostly for office tenants between 3,000 and 50,000 SF across the Chicago CBD and the Northwest Suburbs, O'Hare, East-West Corridor, and North Suburbs markets.