Our Services
Renewal vs. Relocation Analysis
The biggest occupancy decision most companies make — usually made without real numbers. We run both paths in actual dollars.
Tenant-Only Representation
Both Paths. Real Dollars.
Tenant Advisors runs a side-by-side renewal-versus-relocation analysis for Chicago-area tenants: your renewal economics against the best available alternatives, including everything a rent-per-foot comparison misses. Tenant-only representation, at no cost to you.
Why Rent-Per-Foot Comparisons Mislead
A relocation at $2 per foot less than your renewal can still cost you more once build-out beyond the landlord’s allowance, moving, cabling and IT, new furniture, downtime, and overlapping rent enter the math. A renewal at a slightly higher rate can still win once you count zero moving cost and the concessions a competitive process forces from your current landlord. The decision only becomes clear when both paths are priced the same way, over the same term, in effective-rent terms — which is precisely what landlords hope you won’t do.
What the Analysis Includes
Renewal Scenario
Your landlord’s real number after a competitive process — rate, free rent, TI on renewal, operating expense caps, and flexibility terms — not the first proposal.
Two to Three Relocation Scenarios
The strongest actual alternatives in your submarket, with negotiated concession packages, not asking rates.
Full Relocation Costs
Build-out above allowance, furniture, moving, technology, signage, and downtime.
Effective Rent Over the Full Term
Everything converted to comparable per-square-foot, per-year economics, plus total occupancy cost over the lease.
The Non-Financial Factors, Priced Where Possible
Commute impact, building quality, parking, expansion room, and landlord financial health.
The Analysis Pays Either Way
Sometimes the numbers say move — with suburban vacancy above 24% and landlords competing hard for creditworthy tenants, relocation concessions are substantial. More often, the analysis makes your renewal cheaper: a landlord who knows you’ve priced real alternatives negotiates against the market instead of against your inertia. In the renewals we negotiate, that difference is routinely worth 10–25% of total lease value. Either way, the work feeds directly into the renewal negotiation or the relocation — nothing is wasted.
When to Run It
Start 12–18 months before lease expiration, while relocation is still a credible option — that credibility is the leverage. It begins with a lease benchmark comparing your current terms against your submarket; current conditions are in our market guides.
Common Questions
Frequently Asked Questions
It depends on the submarket, the space, and the concessions each side will pay. Relocation adds build-out, moving, and downtime costs but can capture aggressive new-tenant concession packages; renewal avoids those costs but is priced against your inertia unless you create competition. The only reliable answer is a side-by-side analysis in effective-rent terms.
Build-out costs above the landlord’s tenant improvement allowance, furniture, moving, cabling and technology, signage, stationery and address changes, and the productivity cost of downtime. On smaller offices these fixed costs weigh more per square foot, which often tilts the math toward renewal.
Especially then. Documented, priced alternatives are what force your landlord to negotiate against the market. Tenants who renew after running the analysis consistently achieve better rates, more free rent, and concessions that renewal-only negotiations rarely produce.
12 to 18 months before lease expiration. Inside 6 months, relocating becomes impractical for most offices and your landlord knows it, which collapses your leverage in the renewal.
Nothing. It is part of tenant representation, and landlords pay brokerage commissions on both renewals and new leases. Tenant Advisors represents only tenants, so the analysis is built to find your best outcome, not to steer you toward any particular building.
Get Both Numbers
Tell us your submarket, square footage, and lease expiration — we’ll show you how both paths price against deals we’re negotiating right now. No obligation. 2,000+ leases negotiated for Chicago-area tenants since 2004.
Prefer to talk? Call (847) 778-0296
Tenant Advisors, Inc. | 1515 E. Woodfield Road, Suite 116, Schaumburg, IL 60173 | tkoelzer@tenantadvisors.com | No cost to tenants.
When Does Your Lease Expire?
Most tenants start too late. Leverage is built 12–18 months before expiration. Talk with Tom Koelzer or Dave Ven Horst about your options — there’s no cost to tenants; the landlord pays our fee.