Location Is Ideal

Located on the northwest side of Chicago, O’Hare is popular with business owners who want to lease office space as it is on the outer edge of Chicago which means that traffic and parking is not as difficult to deal with as it is in the center of Chicago.  Located close to the airport and the major expressways, it is easy to get to leased office spaces in the OHare area.  It is also minutes away from the inner portion of Chicago which means that the downtown area is close by.

Plenty of Things to Do

Although the O’Hare region has a good showing of industrial and professional businesses within it, there are still things close by if you are looking for something to do away from your leased commercial office space.  Take a short trip to the Lincoln Park Zoo, have lunch outdoors or simply take in the unique architecture.  OHare is filled with history and more in addition to being a great option for leasing commercial office space.

Various Sections within O’Hare Which Cater To Businesses

Within the O’Hare area, there are a few different towns/areas, many of which are ideally suited for businesses large and small to lease office space.  Some of the towns include Bensenville, Des Plaines, Rosemont and Park Ridge.  Bensenville office space rentals are widely available as is office space for rent in Rosemont.  If you are a business owner seeking office space leasing options in Des Plaines or office space for rent in Park Ridge, you too will find options in these OHare area cities.

Local Amenities Make the O’Hare Area A Great Place to Work

When you lease commercial office space in O’Hare, you are renting an office in a location where there will be plenty of amenities available to both you as a business owner and your employees as well.  Office space in Bensenville, Rosemont, Park Ridge and Des Plaines is usually close to a wide variety of restaurants and shops, which is perfect for employees to take advantage of during their lunch break.  For those office space rental businesses which see a lot of out of town clients, there are also a good amount of hotels in the area, especially due to its close proximity to O’Hare International Airport.

Leasing commercial office space in the O’Hare area is simply a great idea.  The amenities are plentiful, the access to the commercial office space in this locale is easy and both the business owner which leases commercial office space in O’Hare and the employees who work for the business will enjoy the convenience which this location offers.

The post Office Space in O’Hare appeared first on Tenant Advisors.

Understanding Blend & Extend Leases 

Business owners who are searching for office space for rent have quite a few options available to them. Long-term leases, annual leases and month-to-month options are the most common types of leases. With that said, most leases are longer-term in the 3-7 year range, and they reflect the market conditions that were in effect at the start of the lease term. So, what happens when a company’s need for office space changes midway into its lease term? or what happens when market conditions change dramatically, but the company still has considerable time left in its lease term? Is he stuck? The short answer is: not necessarily. A relatively new type of lease has emerged which business owners have found to be advantageous to their leasing situation, and that is the blend and extend lease. These leases relate to tenants and landlords who are in a current lease relationship, and want to extend the lease for an additional term while in the midst of their current lease. When a blend and extend lease is initiated, the parties also get to alter the terms of the lease which is an additional benefit to such a lease. The following will highlight more information regarding the blend and extend office lease and cite the various pros and cons of such an office space rental agreement.

What You Should Know About a Blend and Extend Lease

The first thing which commercial property owners and renters need to know about is that there must currently be a lease in place between the landlord and business owner tenant. As the purpose of a blend and extend lease is to get an early renewal with lease term changes it goes without saying that there must be an active lease agreement at the time in which a blend and extend lease is discussed.

You should also be aware of why a blend and extend commercial property lease is desirable. Commercial office leases are often lengthy in duration and this makes altering terms more difficult as when compared to an annual lease. With that said, landlords do not like to take chances of having their office space be empty once their current tenant’s lease expires. With a blend and extend lease, tenants benefit by negotiating for a more favorable monthly rent and lease terms and landlords benefit by ensuring that their current tenant remains in the premises for years to come.

The Pros of a Blend and Extend Office Lease

There are many benefits on both sides of the lease relationship associated with an office space blend and extend lease. The landlord favors a blend and extend lease as it guarantees them that their office space will not be vacant for long periods of time. In today’s economy, office rental demand is on shaky ground as are many other business-related aspects and the landlord can have peace of mind knowing that its tenant will be in the office space for years to come. This will increase the chances that the landlord can cover the mortgage payment every month and not have to worry about paying a real estate agent to find replacement tenants for them.

For the tenant, a blend and extend lease works in their favor by providing them with the opportunity to renegotiate the lease terms and oftentimes renew the lease with a less expensive monthly rent. The rent is not the only thing which the tenant can renegotiate in a this kind of lease. Rental abatement, options to renew, expand or contract and office space improvements are also negotiable points in the new and revised lease.

The Cons of a Blend and Extend Commercial Office Space Lease

As with any negotiations, there may be some less than favorable aspects of a blend and extend lease. With regard to the landlord, although the blend and extend lease provides the landlord with a longer lease term in which the tenant is required to stay in the building, the landlord may have to accept a lower monthly rent payment as well as agree to office improvements and other concessions. As for the tenant, it may receive a more favorable monthly rent under the blend and extend lease, but it will be locked in to the office space for a longer period of time and not be able to move from the office should it desire to do so a few years down the road.

In The End A Blend and Extend Lease Is a Good Option

When all is said and done, a blend and extend lease can often be a good option for both landlord and tenant to consider. If the landlord/tenant relationship is a good one and the office building location works well for the tenant, then there really is no reason to ignore the blend and extend lease option. Even with the few potential negatives listed above, the pros often times outweigh the cons of this type of lease. A blend and extend office lease ensures that the office property remains rented and the tenant gets a better deal than it had previously. It is easy to see why blend and extend leases are becoming much more common in the commercial real estate market-place.

The post Chicago Office Space Lease Negotiations appeared first on Tenant Advisors.

Why Is Signage Important?

First and foremost, you want the proper signage outside of the leased commercial office space advertising your business so customers can find you, whether they are current customers or prospective ones. When you have the proper signage, your customer base will improve as will your business’ income. This type of advertisement is the easiest way to draw people in and a cost-efficient method as well.

Why Might Landlords Restrict the Use of Signs?

There are a few different reasons why landlords may restrict the use of signs by their commercial tenants. First, they may not have the room to allow all tenants to put up signs, especially if there are many office space tenants within the building. Also, there may be city restrictions and zoning laws regarding signage, which wouldn’t be the landlord’s fault but simply something which prevents the tenant from advertising at the building. In addition, the landlord may not want a bunch of signs all over the building and simply restrict signage for that purpose alone. These are some of the more common reasons why landlords don’t want signs on their property.

How Does the Tenant Go About Getting Their Sign Up and Presence Known?

The best way to get your sign posted, whether it is a stand-alone sign only promoting your business or your name on a large sign alongside all of the other office tenants within the building, is to negotiate properly with the landlord during the lease negotiations. Some landlords will be flexible with regard to signage and, in this case, getting your sign posted is not a big deal. However, for other landlords who may be more hesitant to allow signs, you’re going to want to negotiate this factor prior to signing the lease.

If the landlord refuses to allow you to put up a stand-alone sign, see if they would agree to an addition to a sign already posted which has other office space tenants listed on it. This shouldn’t make or break the lease deal, however, if it is that important to you as a tenant, which it should be, try to work with the landlord to get some sort of signage posted. After all, if people don’t know where you are located or new customers can’t come across your business with ease, this will hurt you as a business owner. Negotiation is key so try to work with the landlord to secure some type of signage along with your commercial office space lease.

The post What Are Your Signage Options When Signing Your Office Lease appeared first on Tenant Advisors.

Why You Need Financial Analysis for Negotiations

Negotiations for commercial real estate leasing are time-consuming and involved in nature. You are not simply renting a home or an apartment, you are securing an office space lease which often carries with it a lengthy lease term. There is plenty to discuss during commercial leasing negotiations and large amounts of money at stake. Therefore, you want to be sure that the negotiations work well in your favor, the tenant. Financial analysis figures will help to show the landlord what you will be paying, outside of simply the base rental payments.

There are many other costs to consider with commercial office space leasing and you want to bring such costs to the attention of the landlord. This will also be a beneficial path to pursue, since you want to determine what your landlord will pay for and what you will be responsible for paying on your end of the tenancy. A financial analysis will lay it all out on the table and ensure that no stones are unturned during the leasing negotiation process.

Steps for Using Financial Analysis Figures During Negotiations

When a landlord is figuring out how much to charge a tenant for rent, they look at the effective rental rate. This rate takes into consideration factors such as market rental rates seen in comparable buildings, building operating costs and total transaction costs. With these three encompassing factors in mind, the landlord comes up with the rental rate. How do tenants go about reducing the rental rate asked for at negotiations? By completing a financial analysis of their own. By doing so, the tenant can show that certain aspects should be less, or more, in cost to get the negotiations to favor their side and, ultimately, result in a lesser amount on the overall rental rate.

To have your points duly noted, use a proper financial analysis program to come up with the figures. This will hold the most weight when you are in the negotiation phase with your landlord as you have concrete figures to show for your point of view. Also, have a tenant representative along with you for the negotiations. It’s important to be properly represented so that you are not going it alone in negotiations with the landlord. Lastly, be reasonable with your requests, especially if the office space is a highly coveted one and there is a bit of competition as to other prospective tenants wanting the same location as you. The landlord will be less likely to be flexible if there is another business owner out there who will pay the asking price for the office space lease.

Financial analysis is extremely important in commercial office space lease negotiations and you want to make sure you sit down at the negotiation table with financial analysis paperwork in hand and a tenant representative by your side.

The post Steps For Using Financial Analysis Results In Negotiations appeared first on Tenant Advisors.

What a Financial Analysis Accomplishes

A financial analysis is the answer to determining what your overall cost will be to lease a commercial office space. Far from simply considering annual lease amount, there are many other factors to review in order to ascertain that the lease is a financially responsible move for you and your company to make. In addition to looking at the base rental price, you must consider factors such as increases in operating expenses, caps on operating expenses, reduced rent periods, contributions by the landlord, parking fees and more. By looking into all of these added factors, you can make the proper determination as to whether renewing your lease or moving elsewhere is the right decision to make.

How to Perform a Complete Financial Analysis

When starting the financial analysis process, you’re going to want a little help with the calculations. Fortunately, there are programs for just this type of analysis. Some of the popular financial analysis help comes in the form of ProCalc, LeaseMatrix and more. By using these programs, you can get a correct number, as well as get the job done with ease. When performing a financial analysis, you’ll be considering the various features listed above, such as base rental payments, operating expenses and all other costs and considerations which will provide you with a final determination as to whether or not your leasing arrangement will be of benefit to you and your company.

What to Do with the Financial Analysis Results

When the tabulations are complete, the final step is knowing what to do with the results. You want to look at the bottom line and determine if this number will fit within your budget or not. It will be helpful in making the decision whether to stay and renew your commercial office space lease or lease an office at a new location.

If you have a tenant representative, your decision will be made much more easily. This advisor will go through the numbers with you and help you to decide which leasing option will benefit you the best. Making the right decision is a matter of going through the financial analysis, step-by-step, and figuring out whether it pays to stay in your current office space and renew your lease or move on to a new location which will be more cost-effective and better for your company overall.

The post How Financial Analysis Plays a Part in Office Lease Transactions appeared first on Tenant Advisors.

Structure and Layout Will Dictate Price

When searching the various office space leases, keep in mind that the structure and layout will dictate how much you spend on the overall lease cost. You want to consider if you are going to embark on any structure changes and how much that will cost you. An office space which is ready to go and needs little revision to the structure or layout will save you money and be the most cost effective lease arrangement.

Location Is a Determining Factor with Lease Cost

Where your prospective office space is located will be a factor in how much you pay. Consider the desired location carefully when you search as this can save money. By moving a short distance away and refocusing your search on a neighboring area, but still one which is beneficial for your business, will oftentimes offer a reduced cost. How much an office space landlord charges for rent will depend on the location and the demands associated with it. If you are considering two different locations, where one will be more cost effective, consider the pros and cons to see if the less expensive location will be just as efficient as the pricier one. This will save money and leave you with an office space location which is reasonable in price and will serve your company just as well.

Lease Terms Can Coincide with a Reasonable Price

Chances are that the landlord will have a set price in mind for the lease. However, this doesn’t mean that terms are non-negotiable. The more beneficial the lease terms are for the tenant, the higher the lease price may be. With that said, the future commercial tenant must always negotiate for the best possible terms and still aim for a reasonable price. No lease terms are concrete and everything is up for negotiation when it comes time to discuss the lease. The tenant should always broach favorable lease terms and seek out an affordable lease cost while obtaining exactly what their company needs in an office lease.

Finding an affordable office lease is not an unattainable goal. It can be achieved by choosing an appropriate structure and layout for your office space, picking the right location which will also be cost effective and making sure that you get all of the lease terms to suit your needs and the needs of your company. Although commercial office space leasing may be competitive in certain areas, there are still plenty of options to choose the best office space lease which will accommodate your company or corporation perfectly without having to pay a fortune.

The post Affordable Office Space Lease: Considerations To Follow appeared first on Tenant Advisors.

Rolling Meadows office space is located 24 miles northwest of Chicago is the city of Rolling Meadows. With more than 24,000 residents, Rolling Meadows is of a good enough size to have everything a resident and business owner could want in a suburban city but still maintain that wonderful hometown feel. Business owners pick Rolling Meadows as their office space lease destination for its welcoming economy, large number of leasing options and scenic attributes.

Why Choose Rolling Meadows For Your Office Space Lease Location?

You may be wondering why businesses choose to open their doors in Rolling Meadows. There are plenty of reasons why this is so. First, the city of Rolling Meadows welcomes business owners of all types. There are plenty of leasing options available which prove this is so. Business office tenants can choose from strip malls, corporate centers, shopping centers and more. This wide availability of leasing options makes it a good location for any type of business.

Rolling Meadows is also a convenient commercial locale. Within minutes, business owners, their employees and customers can reach interstates and major highways in addition to smaller, local roads. When picking a business lease location, business owners often opt for spots where transportation is made easy. When you lease an office space or office building in Rolling Meadows, you are ensuring that you, your employees and those who patronize your business can reach you in an easy manner.

Those who are business owners in Rolling Meadows lease office space there due to plentiful amenities present in the city. Restaurants and stores are close by which is a nice aspect to keep in mind, especially since many people like to grab lunch from a restaurant or shop on their lunch break while at work.

Things to Do In Rolling Meadows

As mentioned above, Rolling Meadows has plenty of shopping and dining options. It is also a great location when it comes to parks and recreation. The Rolling Meadows Park District is well-known in the area, not only for its lovely outdoor locales but also its wide array of recreational activities for kids and adults. Although, as a business owner in Rolling Meadows, you may not be able to take part in all of the wonderful parks and recreational activities which Rolling Meadows has to offer due to your busy work schedule, it is certainly a positive attribute of the city. It is something which draws new residents in all the time and entices those living outside of Rolling Meadows to visit the area. When people come to Rolling Meadows you are increasing your chances of growing your customer base as well.

Rolling Meadows has plenty to offer business tenants in office space leases. The location is ideal as business employees and customers can reach your office easily. Also, there are many different leasing options available to business owners in Rolling Meadows. With regard to your customer base, you are sure to see growth due to the wide array of activities available in Rolling Meadows, including its variety of shops, restaurants and its popular Rolling Meadows Park District.

The post Office Space Rolling Meadows appeared first on Tenant Advisors.

Located north of Chicago is the suburb of Buffalo Grove. With over 41,000 residents, Buffalo Grove has a firm residential base, which is continually growing. As for the commercial side of things in Buffalo Grove, office space leasing in the area is a popular choice for business employers. Office space leases are available for small businesses as well as large ones and business owners of all industries have a place in Buffalo Grove.

Buffalo Grove Provides Business Owners and Employees with Ease of Access

Finding an office space to lease is a duty one should not take lightly. As these commercial leases are often five or ten years in some cases, you want to find a location which meets all of your needs. With that said, your business office space lease should be located in an area where you can reach it easily as can your employees and clients. Buffalo Grove is an ideal office space lease location for this reason. Situated close to Route 83 and many other major roadways, Buffalo Grove can be accessed quickly and easily by the business tenant, business employees and customers. Buffalo Grove also features Metra service for those who opt for public transportation.

Office Spaces Are Suitable For Many Business Types in Buffalo Grove

As there are many different types of businesses in the Chicago area, it is reasonable to assume that business owners searching for a place to open their commercial doors in Buffalo Grove will find a place to accommodate their individual business there. Businesses include professional companies, health and beauty entities, retail stores, dining establishments and more. For those searching for the prime office space to lease in Buffalo Grove, there is certain to be an office lease which is suitable. Single office space leases with shared office amenities as well as entire corporate headquarters can be leased in Buffalo Grove.

A Nice Blend of Businesses Adds Variety to the Commercial Environment

With the wide array of companies and corporations located in Buffalo Grove, it is easy to see that this variety adds to the positive attributes of the village. When an area has many different business tenants and land owners within it, the community benefits as do the business owners located within. Consumers love one-stop shopping and if they can come to Buffalo Grove and obtain products and services from a number of different businesses, this will be an enticing factor and one sure to benefit your business. When you lease a commercial office space in Buffalo Grove, your consumer base will reap the benefits.

Buffalo Grove has many excellent qualities, especially for those business owners who wish to lease as opposed to buy commercial office space. With the large quantity of choices regarding office space leases, convenient location and nice blend of businesses within the village, it is an easy choice to make when you decide to lease your next office space in Buffalo Grove. A tenant representative can help you to find the ideal leasing location and make your commercial leasing journey much simpler.

The post Leasing Commercial Office Space In Buffalo Grove, Illinois appeared first on Tenant Advisors.

Finding an office to lease in the suburbs of Chicago may prove to be a big decision for many business owners. After all, where do you lease and what area would benefit your business the most? For many business owners, a location such as Schaumburg provides an ideal answer. Schaumburg is a Chicago suburb which is located northwest of Chicago. This area is home to residential, commercial and industrial entities and offers quite a lot to those seeking office space for lease in general.

Benefits of Leasing an Office in Schaumburg

When you lease office space in Illinois, you want a location that has certain key attributes to it. Items such as parking availability, frequented customer area, amenities close by and more will all help your chosen office space to be the right one.  Schaumburg has all of this and so much more. As the largest locale of economic development outside of Chicago within the state of Illinois, it is no wonder that this area draws in plenty of businesses and has a wide array of amenities in the area. When you rent a commercial office space in Schaumburg, you will have access to these amenities, which will not only benefit your business and employees but be an enticing draw for customers as well.

In addition, business is booming in Schaumburg on a continual basis and shows no signs of slowing down. Currently, 25 hotels, more than 200 restaurants and thousands of various businesses are located within Schaumburg. This number continues to increase as more business owners are realizing the attractive financial qualities of this location. When commercial properties increase in areas, this acts as an incentive for other businesses to follow suit. In addition, when you open up a business and lease commercial real estate in Schaumburg, you will have prominent names in the commercial sector as neighbors such as Motorola, Zurich American Insurance, IBM, Comcast and more.

As an additional benefit, those who lease an office in Schaumburg will be close to the downtown Chicago area as well as O’Hare International Airport. Having the close proximity to these two locales makes it easy for business customers to reach your establishment. It is also a great way to encourage visits from out-of-state clients. The location is a great benefit and one of the reasons why business owners lease office space in Schaumburg.

Choosing the Best Office Space

When the time comes to select an office space for lease in Schaumburg, make sure that it meets your company’s needs. Inquire about square footage, shared office space, costs, lease terms and more. In addition, you should always have a tenant representative with you in order to make your part of the negotiations easier to complete and much more beneficial in the end. Consider your line of business and find the location of office space in Schaumburg which will make your company shine amongst the rest of the businesses.

Schaumburg is the perfect place to lease office space, no matter whether you are a small privately owned company or a large national corporation.

The post Leasing Commerical Office Space In Schaumburg, Illinois appeared first on Tenant Advisors.

Des Plaines, Illinois is an area outside of Chicago which holds much potential for residents and businesses alike. Located northwest of Chicago, not too far from Arlington Heights, Des Plaines is filled with much opportunity for businesses large and small, especially those which find an office space to lease in Des Plaines. The office space lease options are wide and varied. From solo practitioners to large corporations, Des Plaines is the perfect location for these businesses to operate out of. There are many distinct reasons why business owners find Des Plaines to be the ideal area for their business.

Des Plaines Is an Easy Location to Reach

Many people like the aspect of doing business in the big city but there are many reasons to appreciate suburban business locales. Benefits such as parking, easy access and having a business close to your suburban residence are some of the reasons why business customers appreciate a suburban business. Therefore, if you are interested in leasing office space in the Chicago suburbs, Des Plaines is a great choice. There are many different commercial leasing options available for business owners to peruse. From small, single office settings to entire floors of commercial offices, Des Plaines has it all in the way of office settings.

Many Businesses Call Des Plaines Home

As a business owner, you will also appreciate the fact that you will not be the only commercial entity in town. Although most businesses do not like competition in their market, there is something to be said about being located in an area with other businesses in different business fields surrounding you. When this occurs, you will find that customers of other businesses may need to utilize your services or buy your products as well as patronize the other businesses. This type of arrangement will work well for your company when you lease office space in Des Plaines as there are plenty of business neighbors around which means that there will be plenty of customers as well.

Des Plaines Is Filled With Stores, Restaurants and Other Amenities

When choosing a town to lease office space within, business owners have plenty of must-have items on their list. One item which should be on the list is amenities. The office space which is rented by the business owner should be in a location that is not isolated, but instead has plenty to offer the business owner, the employees and consumers who do business with the company. Des Plaines has many amenity options throughout the city. From casual to formal restaurants and small boutiques to retail chain stores, Des Plaines offers a great selection of amenities. Prior to choosing the office space to lease, an owner of the business must consider all aspects of the area amenities to pick the right location.

Finding an office space for lease in Des Plaines is an easy choice to make. Business owners who lease offices in Des Plaines will benefit with regard to the location, the commercial business neighbors and the amenities surrounding the commercial office space.

The post Leasing Office Space in Des Plaines, Illinois appeared first on Tenant Advisors.