Real Estate

Avoid these dangers when negotiating a commercial real estate lease

Landlords often push longer lease terms, offering better pricing or other incentives to sweeten the deal. Yet without flexibility, a small business locked in a long-term lease may suffer should it encounter unexpected growth or decline. Limiting the duration of a real-estate lease to one to two years will better suit the needs of less mature businesses. A real estate lawyer in Chicago can help you negotiate renewal options with reasonable limits on rent increases. … [Read more...]

Rahm Emanuel Requests Significant Raise to Illinois’ Commercial Property Taxes

Mayor Rahm Emanuel is seeking to raise taxes on commercial property holders in the hopes that these tax increases will stave off the state's ever burgeoning budget shortfalls. This past week, he pitched his proposals to Chicago's 50 Alderman seeking their support of the largest property tax increases in the history of Illinois. … [Read more...]

Selling your home in the winter

People are often reluctant to put their home on the market with winter approaching. The reality is that marriages and births, promotions and job transfers happen year-round, so people are looking for houses during all seasons. … [Read more...]

Selling your home? Change the interior wall colors

People selling their homes in Illinois should heed the advice of professionals when it comes to setting a price and clearing out the clutter. According to Consumer Reports, painting interior rooms is also a key part of moving the property quickly. … [Read more...]

Improve your curb appeal and attract buyers with these 3 tips

Working on the appearance of a home can be time-consuming, but industry experts say it is well worth the investment. According to a report in The Washington Post, homeowners in Illinois and across the country can expect a 150 percent return on investment for landscaping projects alone. … [Read more...]

How does an appraiser determine a home’s value?

Lenders in Illinois nearly always require homebuyers to get a house appraised prior to issuing a loan. According to Bankrate.com, problems can occur when the appraisal falls below the sale price of the home. … [Read more...]

Selling a home: Is it a good idea to renovate before listing?

When homeowners go to sell their home with the assistance of a real estate attorney in Chicago, they strive to sell their house for as much as possible. One strategy many homeowners use in order to achieve this goal is to renovate major aspects of their home, like their kitchen, before putting it up for sale. Although renovating can be beneficial, homeowners should carefully consider which projects to perform to obtain the highest return on their investment. … [Read more...]

What is a balloon mortgage?

When homebuyers in Illinois go to purchase a new home with the help of a real estate attorney in Gurnee, one financing option available to them is a balloon mortgage. These loans require a payment at the end of a specific time period that is larger than the regular monthly mortgage payments. … [Read more...]

What are the potential liabilities if you rent out your half of a duplex?

For many property owners in Illinois, owning a duplex and renting out the other half of it is a beneficial arrangement. However, before embarking on the renting process with the assistance of a real estate lawyer in McHenry, those interested in becoming landlords should familiarize themselves with some of the potential liabilities they face. … [Read more...]

2015 brings 2 changes to estate tax law

Recently, the Internal Revenue Service announced what the gift and estate tax limits would be for the year 2015. These numbers, which are adjusted annually to account for inflation, matter to those who work with their estate planning attorney in Illinois to reduce their estates by gifting assets and money to family members or friends. … [Read more...]

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