COMMERCIAL LEASES AND THE LAW OF ELECTRONIC TRANSACTIONS By Guest Authors: David P. Resnick and Seth Corthell Most commercial leases are forged by a deliberate, organic process that includes face-to-face meetings, telephone calls and written correspondence between the landlord, the […]
HARP – On This. . .
A Commercial Real Estate and Business Thought-board
Outside Investors and the Real Estate PPM – A Critical Step
It is not uncommon for commercial real estate investors to pool their funds for real estate investments. To obtain project financing, equity requirements remain relatively high. Loan to value ratios are in the 60% to 70% range in many circumstances. […]
NEW BOOK – Illinois Commercial Real Estate
I’m happy to announce that the website for my new book, Illinois Commercial Real Estate is now live. Visit www.Illinois-CRE.com for a book excerpt. Illinois Commercial Real Estate, Due Diligence to Closing, with Checklists, is intended as a practical handbook […]
AIR RIGHTS DEVELOPMENT – Chicago, Illinois
WHY DEVELOP AIR RIGHTS? Prime commercial land is limited. Prices per square foot can be astronomical. Demand for efficiency to maximize return on investment is growing. No wonder developers and property owners are looking to the sky, with varying degrees […]
Due Diligence Basics – Commercial Real Estate
Due diligence is essential when investing in, developing or financing commercial real estate. You must know the right questions to ask, and where to find the answers. The object is not simply to get to closing, but to assure that […]
NEW: ALTA Land Title Survey Standards
NEW ALTA LAND TITLE SURVEY STANDARDS effective February 23, 2016. UPDATE: Effective February 23, 2016, new minimum standard detail requirements for ALTA Land Title Surveys went into effect, replacing the previously existing 2011 Minimum Standard Detail Requirements for ALTA/ACSM Land […]
COMMERCIAL LANDLORD-TENANT: Duty to Repair – Illinois Law
When something breaks in a commercial space, who is obligated to make the repair? Absent a covenant in a lease obligating the landlord to make repairs, a landlord generally has no obligation to repair the leased premises, unless the landlord […]
Keys to Closing A Commercial Real Estate Transaction
Commercial Real Estate Closings Anyone who thinks closing a commercial real estate transaction is a clean, easy, stress-free undertaking has never closed a commercial real estate transaction. Expect the unexpected, and be prepared to deal with it. I’ve been closing […]
Illinois Commercial Condominiums – The Inactive Association Challenge
RESALE DISCLOSURE CHALLENGES – When the Commercial Condominium Association is “Inactive” Remarkably, perhaps as an aftermath of the Great Recession during which resales of commercial condominiums were infrequent, it is not rare to find that the owners association for a […]
“SMALL DEAL” DUE DILIGENCE
A misconception abounds in commercial real estate. I am partly to blame. I didn’t mean to add to this false belief, but I recognize that I have. While writing articles and presenting seminars on due diligence for commercial real estate […]