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Recent Blog Posts
Tenant-Landlord Disputes - Actions That Can and Cannot Be Taken by a Landlord or Tenant
While most tenant-landlord relationships end with little fanfare, there are situations in which one must take some form of action against the other. For example, a landlord that has denied a tenant of suitable living conditions may be held legally liable for their actions. In contrast, a tenant who has failed to pay their rent may be evicted through legal action. The following information explains those actions, and it provides details on actions that cannot be taken by either a landlord or tenant. You shall also learn how the assistance of an experienced attorney could improve the outcome of your landlord-tenant dispute.
Permitted and Restricted Actions for Tenants
When a landlord is in default of the lease, tenants have only a few permitted actions they can take. If the residence is uninhabitable, or if the landlord is refusing to make repairs that have caused the property to become unfit (Chicago only), the tenant may then file an official complaint with the landlord. While this is nothing more than a letter that states your concerns and intentions, should the landlord fail to make the appropriate repairs, it
Technology and the Commercial Real Estate Market – How Things Have Changed and What Lies Ahead
Technology has impacted every major industry in the world, including the commercial real estate market – but how? Do the changes affect everyone in the CRE sector or just some people? Also, what can investors expect in the future? The following information explores the answers to these questions, and it provides details on where you can find quality assistance to meet your commercial real estate and investment needs.
How Shifts in Purchasing Behavior Are Affecting CRE
If you have noticed that you are buying more things online and fewer things at the store, you are not alone. In fact, most Americans can say the same thing. What does all this have to do with CRE? Investors who once built shopping malls and shopping centers are struggling, but many who have purchased warehouse space are seeing a boom.
The Need for Improved Data Collection and Communication
Commercial Real Estate Booming Across the Country – Does It Suggest an Uptick for Illinois?
The commercial real estate market is booming all throughout the country, but does that necessarily mean that Illinois is in for a boom of its own? Not in the least. In fact, even novice trend predictors will tell you that you cannot make buying decisions based on trends alone. Instead, a wide array of variables must be considered – and some of them may be unique to the state, county, or city in which you wish to buy or develop property. So, whether it is zoning laws, market trends, or population growth projections that are encouraging you to examine Illinois, consider the following tips for deciding if this area may be right for your next project. You shall also learn what an experienced real estate attorney can do to ensure your best interests are protected.
Taking a Closer Look Commercial Real Estate “Boom”
Dealing with Environmental Issues in Your CRE Development Project
Environmental issues can arise in any real estate transaction, but their potential consequences are often most severe in commercial real estate (CRE) settings. Part of the reason for this is simple: CRE projects involve more time, money, and resources. However, there are some additional obstacles that CRE investors may face when dealing with environmental issues. Learn how to mitigate against such issues in the following sections, and discover how an experienced real estate attorney can help protect your interests in your next CRE development project.
Common Environmental Concerns in CRE Development
Environmental concerns in CRE development projects can include soil and water contaminants, building contaminants, and noxious gas or vapor contaminants. Mold, lead, asbestos, and radon are some of the most commonly seen contaminants in real estate. Contamination may originate either onsite (from the activities of builders and previous owners) or off-site (contaminants that have leeched or been brought onto the work site).
How Might the President's Immigration Plan Affect the Commercial Real Estate Market?
As the political environment in America heats up, and individuals begin to consider how the proposed government changes may impact their personal lives, it becomes more clear that everyone has a reason to be concerned. For those in the commercial real estate (CRE) market, the major concern is President's proposed immigration party. Learn more about why the two are connected and discover how an experienced real estate lawyer can help you mitigate against any possible problems in your next commercial project.
Proposed Immigration Plan Could Impact CRE Market
Last month, President Trump announced that the number of immigrants allowed into the United States would decrease drastically over the next decade – to about half. Unfortunately, such a plan could negatively affect the CRE market is several ways. First, it could hurt the labor market. That, in turn, could impact the housing market. Secondly, the budding area of Chicago and its surrounding suburbs may be in trouble if the President's legislation passes. Families may opt for another place to live. Businesses may leave. Worst of all, Illinois – a state that has been struggling tremendously with budgets and fiscal decisions – may never fully recover.
Five Things to Consider Before Purchasing That Investment Property
The real estate investment industry can be lucrative for the financially savvy, but it can also ruin investors that refuse to do their homework. Furthermore, there are several potential pitfalls that one must avoid when first entering the industry. Learn how to avoid them, and discover how an experienced real estate lawyer can assist with the transaction on your next investment home purchase.
Condition of the Property
While some investment properties may have little to no damage, others may have serious issues. These properties, which are often referred to as distressed properties, can give you more return on your investment (ROI), but only if you are realistic about the time and money it will take to make the necessary repairs. It is also critical that you consider what repairs must be made before anyone moves in since you will not be collecting rent at that time.
Are Solar Farms the Next Big Land Development Boom?
To be successful as a commercial land developer, one must know how to recognize trends. A dose of creativity helps too, but it is trends – or the possibility of them – that can make or break you. Based on all the new solar farms going up around Will County, it is easy to assume that they will be the next big land development boom. Is this assumption correct? What are the potential risks of getting into solar farm development? The following explains, and it provides you with details on finding assistance with your land development project.
Farmers Trading in Their Crops for Solar
Farming is a respectable profession – one that takes a lot of hard work and dedication. It also does not pay very well, which is why some farmers are eager to turn their farm land (or at least some of the unused portions) into money-making solar farms. The impact to the land and surrounding area is minimal, and farmers who convert their land stand to make four times as much with solar as they would with crops. Solar farms also give back to the community (including schools), and they decrease our reliance on fossil fuels.
Examining the Pros and Cons of Commercial Real Estate Investment
Commercial real estate investment is one of the biggest and most lucrative markets in America, but how do you know if it is the right option for you? First, you must determine if you have an interest in the market itself. Then, you must weigh the potential advantages and disadvantages to determine if you or your company may be a good candidate. Learn more about these pros and cons of commercial real estate investing with help from the following information, and discover how an experienced real estate attorney can help you get started off in the right direction.
Income Potential versus Financial Risk
One of the best reasons to start investing in commercial real estate is the earning potential. Whereas the annual return on residential properties typically ranges from only about 1 to 4 percent, commercial real estate has a return of about 6 to 12 percent. However, there are also some serious financial risks in the commercial real estate market. For example, commercial real estate properties typically require a much larger investment than residential properties.
Resolving a Commercial Real Estate Dispute
Commercial real estate disputes can be frustrating, complex, extremely costly. Thankfully, there may be ways to solve issues with less stress, money, and effort. Learn more about resolving your commercial real estate dispute, including when to seek assistance from a legal professional, with help from the following information.
Types of Commercial Real Estate Disputes
Disputes in commercial real estate are, most often, related to contracts, development, land use, or title issues. For example, land developers may experience arguments or potential litigation over:
- Tenant's breach of a commercial lease;
- Tenant's use of property;
- Fair market value of the home;
- Construction development contracts;
- Worksite personal injury cases;
- Easements preventing the intended use of land or property;
Renting Commercial Property - What Every Business Owner Should Know About Commercial Property Leases
Most Americans have rented a home, apartment, or condominium at some point in their lives, but only a small fraction rent commercial spaces for their businesses. As such, many renters are unaware of the differences between commercial and residential leases. Yet, as the following explains, these differences can catch you off guard, especially if the market turns or your business fails. Learn how to mitigate against such situations, and discover how an attorney can help protect you with your commercial lease agreement issues.
Commercial Leases versus Residential Leases
Despite any misconceptions that commercial renters may have about commercial leases, they are significantly different than residential leases. In fact, the agreement itself is not standard. Instead, it reflects each landlord's needs and preferences. Second, they are often longer and can cost you a great deal more money if you breach the contract. Flexibility and negotiability are also lower in commercial leases, and there are fewer consumer protections. All these aspects, when combined, make for a potentially catastrophic situation for commercial renters.
1730 Park Street, Suite 117, Naperville, IL 60563
630-778-3818
