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Commercial Real Estate

Real Estate Lease Agreement

Illinois

Asked on Jan 24, 2022

What is the best type of commercial lease?

I am a landlord and am wanting to consider which types of commercial lease agreements I would want to use. I own a small strip mall and am looking to sign tenants that would be retailers.

1 Attorney answer

Answer

Commercial Real Estate

Illinois

Answered 243 days ago

T. Phillip B.

ContractsCounsel verified

Business Lawyer
Licensed in Illinois
Free Consultation

Much of that depends on the tenant and the agreement they are willing to enter into. Personally, I would want my tenants responsible for as much of the maintenance and upkeep of the property as possible. The same goes with the property taxes. You could calculate out what property taxes are / would be per square foot and allocate to them which will permit you to adjust rent annually to accomodate changes in the property taxes.

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