An Attorney’s Perspective on Small Deal Due Diligence

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SMALL DEAL DUE DILIGENCE By: R. Kymn Harp 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 transactions, my colleagues and I who focus […]

Plan your ideal space BEFORE you plan your move

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Don’t start your search for new space without first talking to a space planner In comparing locations on your short list for your office move, many factors come into play and its not always just the economics of the deal. However, the item on the list that will ultimately make the biggest impact on the […]

“To Do’s” Before Signing Your Next Office or Retail Lease

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Take careful note of the components of the the CAM ( Common Area Maintenance) charges. Certain components of these need not be included in your monthly charges. Ensure that various options for future delivery from ownership contain mediation or arbitration provisions. Consult a competent Real Estate attorney. Obtain a clear and precise understanding of which […]

10 THINGS EVERY BUYER NEEDS TO CLOSE A COMMERCIAL REAL ESTATE LOAN

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Since 1978,  R. Kymn Harp, a real estate attorney at Robbins, Salomon and Patt Ltd., has represented borrowers and lenders in commercial real estate transactions. Throughout the process of negotiating the sale contract, all parties must keep their eye on what the Buyer’s lender will reasonably require as a condition to financing the purchase. This may not be […]

Keys to Closing A Commercial Real Estate Transaction

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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 may not charm your socks off with industry gossip, sports-talk or movie quotes, but give me a […]

Due Diligence Checklists for Commercial Real Estate Transactions

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Are you planning to purchase, finance or develop any of the following types of Commercial or Industrial Real Estate? A KEY element to successfully investing in commercial or industrial real estate is performing an adequate Due Diligence Investigation prior to becoming legally bound to acquire the property. An adequate Due Diligence Investigation will assure awareness […]

Retail Site Selection Checklist

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Always think drive time and not just distance when assessing demographic and psycho graphic data. A good drive time distance is no more than 15 to 20 minutes. Always use psychographics as well as demographics for site selection purposes. Demographics do not look at behaviors. Psychographics does. Contrary to most beliefs, selecting a location near […]

Chicago Commercial Real Estate Leasing Commission Structures

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What are the various commission structures being offered in Chicago commercial real estate leasing transaction? What circumstances dictate which calculations, how are they calculated and who really benefits? A broker’s perspective… My name is Steven Goldstein and I’ve been active in Chicago’s commercial real estate market since 1988 as a property manager, building leasing agent, […]

Identifying a Commercial Real Estate Agent

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If you are looking for any type of commercial space, remember that it is a time intensive process. A competent tenant representative will reduce the time it takes to find acceptable space. They are routinely only paid by ownership when they successfully locate space that you choose to lease. Competent agents usually return their phone […]

Industrial Lease To do List

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  Secure permission from local officials for truck or fleet parking before signing your lease. As yard and other commercial fleet space is converted into non-industrial uses, zoning is ever more restrictive. Make sure that you and ownership is aware of any and all potential environmental hazards that existed prior to your tenancy. These problems […]