80+ YEARS COMBINED EXPERIENCE · NO CONFLICTS

One Client. One Side. Yours.

Bottom line: Tenant Advisors has represented only office tenants since 2004 and has never represented a landlord. Firms that also list or manage buildings have a conflict when they negotiate against their own landlord clients. We have no landlord business, so every building is on the table and every landlord is someone we negotiate against. The landlord pays our fee, at no cost to you.

Updated October 2026.

Tenant Advisors exclusively represents the tenant side of the table. We have never represented a landlord and never will. The biggest CRE firms in Chicago represent both sides and rely on a fictional “Chinese wall” to separate them. That wall doesn’t hold.

WHY IT MATTERS WHO YOUR BROKER WORKS FOR

No Divided Loyalties.

Tenant Advisors represents office tenants. We assess your lease position, benchmark your rate against current market transactions, and negotiate exclusively in your interest — with no landlord relationships to protect and no dual commissions to chase.

The Chinese Wall Doesn't Exist.

True dual agency — one broker representing both the landlord and the tenant in the same transaction — is relatively rare and requires disclosure. That’s not what we’re talking about.

The more common problem: all large national CRE firms, and most regional firms, represent both landlords and tenants. They collect landlord fees on listings, property management, and capital markets work across hundreds of Chicago-area properties — while simultaneously claiming to represent you as a tenant. When their broker works your deal, the firm assures you a “Chinese wall” separates the two. An internal policy that keeps landlord relationships from influencing your representation.

We’ve been inside that wall. Tom Koelzer and Dave Ven Horst spent their early careers at a major national firm. They know what the wall looks like from the inside — and what it doesn’t stop. The firm’s most important clients are institutional landlords with multiple assignments. They are repeat business worth millions in annual fees. You are one tenant, one transaction. When a tenant rep broker pushes hard against a landlord who is also a major client of the firm, they are pushing against their own company’s revenue. That pressure doesn’t need to be spoken out loud to be felt.

They founded Tenant Advisors in 2004 with a structure that makes the conflict impossible, not just discouraged: no landlord assignments, no listing fees, no property management — nothing that puts a landlord’s interests anywhere in our business. There is no wall because there is nothing to wall off.

The wall in practice: The managing broker overseeing your deal may also oversee the team listing your landlord’s building. There is no regulatory requirement separating them. The wall is a policy, not a structure. Policies bend when revenue is at stake.

WHY IT MATTERS WHO YOUR BROKER WORKS FOR

No Exceptions.

With a Full-Service Firm

With Tenant Advisors

BUILDING SELECTION

The firm holds listing assignments on buildings in your market. Their tenant rep broker may prioritize those buildings — consciously or not. You see a filtered market shaped by the firm’s landlord relationships.

BUILDING SELECTION

Every available option is on the table. We have no landlord relationships to protect and no financial incentive to steer you toward any building

RENEWAL NEGOTIATION

The firm may manage or list your building on behalf of the landlord. Pushing the landlord hard — on rent, TI, or flexibility — creates friction with a client that matters more to the firm than your one transaction.

RENEWAL NEGOTIATION

We create competing alternatives that force your landlord to negotiate honestly. We push as hard as the market allows — our only incentive is your outcome.

CONCESSIONS

Pushing too hard on free rent, TI dollars, or termination rights could strain the broker’s landlord relationship. The result: softer asks, weaker outcomes.

CONCESSIONS

We ask for everything the market supports: maximum free rent, above-market TI, flexibility provisions, reduced escalations. No relationship to protect means no pulled punches.

LEASE ANALYSIS

A broker whose firm represents the landlord on other deals may not flag clauses that favor the landlord — escalation structures, relocation provisions, or personal guaranty exposure.

LEASE ANALYSIS

We flag every clause that favors the landlord — because we have no reason not to. Our job is to protect you, not the relationship with ownership.

THE LAW

Why Dual Agency Doesn’t Protect You

When a broker represents both the landlord and the tenant, true representation disappears. They know the landlord’s bottom line but are legally barred from sharing it or using it to your advantage. They can’t fight for you; they can only facilitate. While 225 ILCS 454/15-45 of the Illinois Real Estate License Act permits dual agency with written consent, the law transforms the broker into a neutral party. Under the statute, a dual agent can offer suggestions or advice regarding property info and “educated decisions,” but they cannot recommend specific terms or prices to either side. They provide data, but they cannot provide strategy. We refuse to be sidelined by these restrictions. We have never represented a landlord, ensuring that every building in your target market remains a fair fight where we can advocate for you without compromise.

CLIENT REVIEWS

What Clients Say on Google

VIEW ALL REVIEWS ON GOOGLE →

“Tenant Advisors is an A+ company representing tenants searching for new space. There’s no conflict of interest — they clearly represent your best interest. I highly recommend them.”

Kerry L., Attorney

“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

“Tenant Advisors provides first class service all throughout the process of finding and securing commercial real estate. They take the time to listen to your needs, find the real estate that matches those needs and best of all represent your best interests when negotiating with landlords to secure your perfect real estate property. Highly recommended!”

Michael M.

“I honestly didn’t believe we’d end up with a better space at a better rate. We did. The expertise and patience in understanding our requirements set them apart completely.”

REGIONAL DIRECTOR — INSURANCE COMPANY, BUFFALO GROVE, IL

Chicagoland suburban office vacancy is at a record high. Concessions are up. Landlords need tenants more than tenants need landlords. That leverage belongs to you — if you have someone using it.

No fee to you. Our commission is paid by the landlord as part of the transaction

Tenant Advisors exclusively represents office tenants. We do not represent landlords. Dual agency is permitted under Illinois law (225 ILCS 454/15-45) — we simply refuse to practice it.