City

Commercial Lease Guides for Chicago

Chicago-specific guidance on the lease clauses that move deal economics. Each page covers local conventions, common pitfalls, and what to verify during abstraction.

CAM Charges
Chicago CAM Charges: Cook County Tax Pass-Throughs
Chicago CAM in commercial leases: Cook County property taxes drive total NNN to $14-19/SF, plus janitorial, HVAC, and management fees. Pass-through structure.
Renewal Options
Chicago Renewal Options: Notice and FMV Resets
Chicago lease renewal options: typical 6-12 month notice windows, FMV resets with floor language, and how to structure caps so FMV never undercuts base rent.
Rent Escalation
Chicago Rent Escalation: CPI and Step-Up Clauses
Chicago commercial rent escalation: fixed 3% step-ups, CPI-linked clauses, and Cook County tax pass-throughs. Negotiation caps and reconciliation rights.
Termination Clauses
Chicago Lease Termination: Default and Break Rights
Chicago commercial lease termination: default events, break clause economics (3-6 months rent + unamortized lease-up costs), and Illinois mitigation duty.