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. (article continues … [Read more...]
Archives for October 2015
Rahm Emanuel Requests Significant Raise to Illinois’ Commercial Property Taxes
Posted on October 2, 2015 //
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. At issue is the philosophy of how to deal with the city's budget shortfalls which exceed $9 billion dollars a year. Coupled with over $159 billion in IOU's owed to … [Read more...]
