Name: Tenant Advisors
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Chicago Commercial Real Estate Careers

Commercial real estate is a promising career for many types of individuals in a wide array of positions. This field allows realtors, tenant representatives, real estate brokers and more to get involved with commercial real estate and engage in a lucrative job position. Although in the past real estate experienced a dip in sales, the truth of the matter was that commercial real estate didn’t experience too hard of a hit as residential real estate. These days, both residential and commercial real estate fields are getting back to their promising positions and returning to normal in the cities, suburbs and even rural areas. The following will list some prime commercial real estate careers in both Chicago and throughout the United States.

Commercial Real Estate Agent

If you are eager to take part in the actual commercial real estate transactions and work one-on-one with the seller or purchaser, then considering a career as a commercial real estate agent is a great idea. As a commercial real estate agent you can represent buyers and sellers who deal with commercial real estate purchases and sales. You will be their go-to person from the very beginning to the end. Commercial real estate agents deal with their clients, their real estate brokers, financial institutions, title companies, real estate attorneys and others. When you start a career in commercial real estate as an agent, you are seeing the entire process before your very own eyes.

Commercial Real Estate Broker

If you want to play more of a supervisory role in commercial real estate and you have prior experience in commercial real estate, becoming a commercial real estate broker is an option. The commercial broker supervises the activities of their agents and helps out when managerial issues arise. The commercial real estate broker is the lead in the commercial real estate firm and is the individual whom the commercial real estate agents report to in their daily business dealings.

Tenant Representative

Another wonderful option, perfect for those who wish to play a role in commercial real estate, is a tenant rep career. Those who are tenant representatives will help the commercial real estate tenants with every aspect of their business leasing. This individual will help the prospective commercial real estate tenant find a commercial office to lease, help them in their dealings with the commercial landlord and basically be the tenant’s contact person whenever they have an issue during their tenancy and wish to have someone by their side when they speak with the landlord. A tenant representative is a real estate career individual who wears many hats and serves many roles. This person will work alongside of the tenant and not have any individual loyalties with the commercial landlord.

Any and all of the careers listed above are excellent choices for those seeking a job in the commercial real estate field. Depending on your individual experience and desires, you may be more suited to one career over the others. The commercial real estate field is a continually growing one and certainly filled with a vast array of job options for those seeking work in the real estate industry.

Office Lease And The Financial Components

by Tom Koelzer Uncategorized

Before signing the documents on your next Chicago office lease, there are quite a few financial components you must consider. Since you want to be able to properly afford your annual office lease and also know just what you as an office tenant will be responsible for paying, it is important to ask questions prior to signing the lease. Some of the financial components as they pertain to office leases are listed below to help you in the quest for the most efficient office leasing experience.

Occupancy Costs

Before you sign a commercial office space lease, you should thoroughly evaluate occupancy costs. Check to see if the base rental payments will be fixed or escalated. In addition to the base rental payments which you are required to pay, there will also be other costs as well. Some of the additional costs which you as a commercial tenant will experience throughout the lease term include utilities, parking fees, janitorial fees and more, buildout costs and more. The lease may also include various rent provisions such as those associated with increased operating expenses. It is important to note that each and every commercial lease will differ as to what the landlord is responsible for paying and what the tenant must pay for on their own. Some
office space leases will be quite favorable towards the tenant as the landlord may pay for utilities, janitor expenses and more. Always read the lease carefully and have your tenant representative inquire with the landlord as to all of the inclusions within the commercial lease.

Determine Which Office Lease Is Most Beneficial To You

If you have a few different options available to you when it comes to office space leases, you want to pick the choice which is most beneficial to you as an office space tenant. In the end, you want to look at the net present value, which is the total cost which the tenant will be paying. Tax factors should be kept in mind as well. It is also important to evaluate the rentable square footage as well as the usable square footage. By comparing the various costs of the office space lease options and the individual features of each one as well, you will be more likely to choose not only the most attractive option but also the best in terms of financial aspects.

Keep Financial Considerations at the Forefront of the Lease Decision

It is easy to get off track when considering the many commercial office space lease options and not put financial aspects at the forefront of the decision-making process. However, as a business owner, you have to ensure that you not only choose the right office space to accommodate your business but that you will also be able to pay for all of the associated costs. When reviewing various lease choices, make sure you know what the landlord is responsible for paying and what the tenant costs will be, in addition to the basic costs, such as rent. Doing so will allow you to make the right financial decision for your business.

Commercial Real Estate

by Tom Koelzer with No Comment Uncategorized

Business owners who wish to lease commercial real estate have plenty of choices these days. Since not all business owners require the same type of commercial real estate, it is good to know that there are various options available. Some individuals who own businesses do so in the retail industry whereas others work in a light industrial setting. Whichever industry one is hoping to find a new office home within, there is sure to be quite a few choices, especially in downtown Chicago and the surrounding suburbs. The following will highlight some types of commercial real estate and detail what things prospective commercial tenants should look for in a commercial real estate setting.

Office Space

Professional office space in the Chicago area is high in demand in the Chicago area. Appraisers, insurance agents, attorneys, medical professionals and those in many other industries need professional office space to operate their business out of on a daily basis. Some office space for Chicago professionals consists of a single office whereas others may be a few floors in a large office building. When choosing the right professional office space setting, business owners must consider location, square footage, office amenities, parking and more. Before settling on a specific office for your company, make sure that your desired inclusions are a part of the decision-making process.

Industrial Real Estate

For those who work in a more industrial field, industrial real estate space is necessary for day-to-day business operations. As with professional office space, the Chicago area also holds many options for industrial business owners. When considering industrial real estate locations, one must look at the surrounding neighbors to ensure that it is industry-friendly, in addition to checking on local zoning regulations to ensure that industrial operations are allowed. The landlord of the prospective commercial real estate will be able to answer these questions for you. You should also make sure that the industrial real estate location you select will properly accommodate the size of your business and be feasible for all of your work operations.

Retail Space

Retail shops are in abundance in Chicago and the surrounding suburbs and do a great deal of business, no matter what the retail operations may be. If your retail store is looking for a new home in Chicago, you will find plenty of retail lease options in most areas throughout the city and on the outskirts as well. Some features which you should look into prior to leasing a particular retail space include square footage, amenities, parking options, layout, delivery entrances and more. Taking a closer look at the current retail space neighbors will also help you to determine whether or not a particular spot will be the most lucrative one for your business.

There are so many different commercial leasing options available to business owners in Chicago and the Chicago suburbs. No matter whether your business is professional, industrial or retail, there is a future commercial home for you in the Chicago area. The best way to ensure that your leasing choice is the right one is to have a tenant representative by your side every point in the search.

Chicago Suburban Markets Perfect For Office Space Tenants

by Tom Koelzer with No Comment Uncategorized

When business owners start the search for new commercial office space, they may not want to choose a location within a big city. In other words, suburban markets are more ideal for one or more reasons. This is true with business owners in the Chicago area. Although the city is a great place to live and enjoy the attractions, working within the city is not the right answer for all business owners. Fortunately, there are plenty of Chicago suburban markets which hold so many wonderful opportunities for Chicago-area business owners.

O’Hare Office Market

The O’Hare suburb of Chicago is a beneficial locale to lease office space if you are searching for a suburban Chicago market. Close to O’Hare International Airport, the convenience of the area for business travelers can easily be seen. Even if your employees don’t travel that much and your company doesn’t see many clients coming in from out of town, the O’Hare suburban market is still a great place to lease your next office. It is close to many area interstates, which makes commuting easier for yourself and your employees. Also, there are plenty of other companies and industries in the area which will often allow new clients to find their way to your office if they are in the area for other reasons as well.

North Suburban Office Market

If you are a business owner eager to lease an office in the North suburban area of Chicago, you will find plentiful options. Towns such as Skokie, Evanston, Morton Grove, Wilmette and more are filled with commercial real estate leasing options. Situated close to Lake Michigan, these towns are not only perfect for commercial offices but they are quite scenic locations as well. This makes it easy to both live and work in the towns in the North suburban market area of Chicago.

East-West Corridor Office Market (Oak Brook/Naperville)

The East-West Corridor area of Chicago also holds a lot for business owners in the way of ideal commercial real estate. Two towns in particular which are fantastic spots to lease commercial office space include Oak Brook and Naperville. Oak Brook is located about 20 miles west of the city and is a perfect suburban location for business owners seeking office space for rent outside of Chicago. Those who lease an office in Oak Brook will find they have plenty of well-known neighbors including Ace Hardware, Papermate and the McDonald’s Corporation, to name a few.

As for Naperville, this town is located a bit further west of Oak Brook, being located 30 miles outside of the city. Naperville has plenty of commercial leasing options, both large and small, for business owners to take advantage of. Lucent Technologies, Kraft Foods and ConAgra Foods are some of the big names in business which you could have as your neighbor if you lease a Naperville office. Naperville is also a nice place to lease office space as you will find plenty of amenities close by, which can be beneficial for both you and your employees.

Northwest Office Market (Schaumburg)

The Northwest region outside of Chicago has plenty of commercial leasing options, including within the town of Schaumburg. Schaumburg is home to two large corporations, IKEA and Motorola. It is also an area filled with many different shops and restaurants as well as plentiful professional offices. Those who lease an office in Schaumburg will love the convenience of having Chicago not too far away but appreciate not having to deal with the traffic and congestion which the big city holds. Schaumburg offers small professional business settings as well as office space for large corporations to lease.

If you are eager to lease office space in the Chicago suburban market, then looking further into the options above is an excellent place to start your commercial office space search.

How Much Office Space Do I Need?

by Tom Koelzer Uncategorized

Searching for commercial offices for lease is a time consuming task for many. For those who have gone through this procedure before, it may not be as tedious. However, if you are new to the office space leasing routine, you may be overwhelmed with how many things you need to do to get the perfect office space. Although deciding on the location is a prime consideration, you must also seriously consider how much space you will need for your next office lease. In order to determine the right amount of office space, the following will help.

Type of Business

The industry in which your business lies will often tell a lot about how much space you require when you lease office space. Certain businesses need a specific minimum amount of space in order to operate properly. The industry standards are ones you can look to in order to determine how much office space is necessary in your case.

Number of Employees

Another consideration to keep in mind when figuring out how much office space you will need is to factor in the number of employees. As you might imagine, if you are a small company with few employees, you may not need too large an office space. On the other hand, if your company employs hundreds of individuals, the office space amount will be greater.

Office Equipment

Also consider the office equipment which your business uses. Many business owners forget about accommodating their large office equipment such as printers, fax machines and more. You want to have ample space for all of your office equipment and not have to find spots to fit it in at the last minute.

Private Offices or Shared Office Space

Whether you want private offices or shared office space will also help you to figure out how much office space you need. You should also determine if you want all of the private offices to be similar sizes or if some of the corporate officers or company heads will get larger offices and then have smaller offices reserved for other employees. Shared office space may help you to limit the overall amount of office space that you need, especially if you share amenities with others in the corporate office building. For example, if you share a reception area and a conference room with other companies in the general office building, this may limit the amount of space you need for your office space lease.

Calculating the right amount of office space is essential in order to acquire the best possible office. Not only will choosing the perfect amount of space for your leased office premises accommodate your company in the best manner but it will also save you money in the long run. You don’t want to lease more office space than you need. Doing so can cost quite a bit of money, money which your company simply can’t stand to lose. Determining the right amount of office space will ensure that you get the office your company needs for the price it can afford.