MITIGATION OF DAMAGES IN IL COMMERCIAL LEASE DISPUTES
An Illinois landlord under a commercial lease must take reasonable measures to mitigate damages, . . . but only if mitigation of damages is required – which is not always. LEARN MORE
Past-Due Rent Owed to Prior Landlord Not Recoverable by New Owner
"Unlike credit card debt and future rent that can be assigned, Illinois courts routinely hold that rent in arrears is not assignable."
EXERCISING REAL ESTATE OPTIONS
WHEN EXERCISING REAL ESTATE OPTIONS – Strict Compliance is Your Only Option Options affecting real estate are commonly found in two circumstances: options to purchase real estate and options to extend the term of a lease. A recent decision by the…
ELECTRONIC SIGNATURE BINDING ON COMMERCIAL LEASE?
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…
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 has actual…
COMMERCIAL LANDLORD-TENANT – Part 2 – The Covenant of Quiet Enjoyment
This is Part 2 of a multi-part series of articles discussing the duties, rights and remedies of commercial real estate tenants in Illinois. Part 1, entitled “Getting It Right” discussed the importance of clarity in lease drafting, and the potential for…
Commercial Landlord-Tenant Issues – PART 1 – Getting it Right
In March 2015, the Illinois Institute for Continuing Legal Education (“IICLE”) published its 2015 Edition practice handbook entitled: Commercial Landlord-Tenant Practice. To provide best-practice guidance to all Illinois attorneys, IICLE recruits…