Is It Time to Move Your Commercial Office Space?

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As businesses grow, they outgrow their current space; as time passes, needs change. Your office space should meet those needs whether they are getting larger or smaller. When is it time to make this decision? Let’s start by asking a few, simplified questions to help us answer the big question: Is it time to move your commercial office space?

Growth

Does your current office space meet your projected long-term needs? If not, put a tally in the move column. Whether you are expanding or consolidating, your commercial office space must agree with projected work demands. If you bottleneck here, you hinder earning potential.

Convenience

Location, location, location, right? This element is true for your financial requirements just as largely as your client base. Long, arduous commutes are a deterrent for new hires and a hindrance for retention, so distance effects your employees as well. For this matter, consider parking. Difficulties with parking can lead to unwanted client and employee frustration.

Security

Leases are complicated. How can you be certain that your rental agreement is secure? What if you get to the end of your lease and your property owner wants to increase your rates? What if your office rental is out-bid on? These are all very realistic concerns. The best answer is to get a commercial real estate expert who can work in your favor to put limitations and restrictions on your lease.

Waukegan Office Space Leasing

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Office space leasing in the Chicago suburbs is a popular choice nowadays for Illinois business owners. Waukegan is a highly sought after locale for business owners who have companies in a wide array of industries. This city is the county seat of Lake County and was estimated to have a population of 88,826 in 2013. Waukegan is located 40 miles north of Chicago and offers big city living in a suburban destination.

What Waukegan Offers Business Owners

Leases are readily available throughout the large city of Waukegan. If you’re wondering why to select Waukegan for your commercial office space, there are plenty of answers to this question. First, Waukegan is outside of the Chicago area but still has a big city atmosphere. This is a benefit to business owners who don’t wish to work in the downtown Chicago area but do want to have access to all of the wonderful aspects of a larger city.

Also, when you choose an office space lease in Waukegan, you will have a commercial lease in a spot that has plenty of convenient features associated with it. You will have ease of access due to various interstates and local roadways going in and out of Waukegan. There are also many public transportation options for those without cars or those who simply prefer public transportation to get around town. In addition, parking is much easier in a city like Waukegan as opposed to parking in the downtown Chicago area.

Business owners who lease an office in Waukegan will be in an area that has plenty of amenities right at one’s doorstep. Dining, shopping, recreation and entertainment options are in full effect in Waukegan. Downtown Waukegan is filled with shops and restaurants. For those craving entertainment, there are many things to do in Waukegan. The Waukegan BMX Track, Bowen Park Theatre and Opera Company, Genesee Theatre, Jack Benny Center for the Arts and more offer an eclectic array of activities for all of Waukegan to enjoy.

Another aspect which business owners are sure to appreciate about Waukegan is that businesses of all types are welcome in this city. There are zoning regulations regarding what type of business can operate where but all are welcomed with open arms. Commercial leases of all types are offered as well. Whether you need a single office for a professional company or a large corporate building to accommodate your corporation, you will find a lease to suit your individual commercial needs in Waukegan.

Find a Waukegan Office Space Lease with Ease

Before you settle on a particular office space lease, speak with a tenant representative. This real estate professional will help you to find the right office building and will continue helping you even after the lease is signed. When searching for office space to lease, make sure to consider all commercial needs first prior to settling on a particular spot. Consider size of the space, cost, parking availability, commercial opportunities, lease terms and more.

Waukegan has many lease offerings which are suitable for all types of businesses, including your own business.

Suburban Chicago Office Space: Tenant Improvements

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Suburban Office Space

Chicago suburb business owners who are looking for that ideal office space often find what they are looking for in an office setting. However, there are certain times when the suburban Chicago office space may not be exactly what the office space tenant needs in a commercial office.  Fortunately, landlords will usually allow specific tenant improvements to take place so that the office tenant is 100% satisfied with the office space end result. Here is what to expect in tenant improvements in the suburban office space:

Landlords May Not Allow Every Desired Tenant Improvement

When you want to add certain amenities and additions to a leased office space in the Chicago suburbs, you may know exactly what you want. Keep in mind, however, that your landlord may not allow every type of tenant improvement in their premises. After all, the landlord still owns the building and you are simply leasing it for awhile. Therefore, it is reasonable that there will be certain tenant improvements which won’t be allowed. Make sure that you thoroughly discuss these tenant improvements with your landlord and have the results of the conversation in writing so that there is no miscommunication along the way.

Tenant Improvements Can Be Pricey

Depending on what type of Chicago suburban office space tenant improvements you wish to complete, the end result can be costly.  You should decide upfront what type of improvements you want to make and be sure that you will be able to afford the tenant improvements. Some landlords will pay for tenant improvements while others will allow such improvements but have the cost be the responsibility of the tenant alone.

Certain Leases Will Accommodate for Tenant Improvements

For the lucky suburban Chicago office space tenants, there may be a clause within the office space lease which states that the landlord will pay for certain tenant improvements. This will allow the tenant to get what they want out of the office space and not have to pay the cost for doing so. A good tenant representative will be able to negotiate with the landlord and have them add this desirable clause into the final lease.

Pre-Existing Condition Clauses May Exist

For those office tenants in the Chicago suburbs who complete tenant improvements, they may need to ultimately return the leased premises to its pre-existing condition once their lease is up. These pre-existing condition clauses in the lease safeguard the landlord and ensure that the property will look exactly as it did prior to the tenant improvements. This is always something which the tenant must consider before making big changes to the leased premises since returning the structure to its prior state may be costly in the end.

Tenant improvement clauses are beneficial for Chicago suburb office tenants who want to make changes to the property. The tenant should see if the landlord will pay for such changes and whether they will have to return the property to its former state once their lease term is up. All of these things should be clearly outlined in the lease for the benefit of all parties involved in the leasing agreement.

Leasing Office Space: Understanding the Common Area Factor

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When business owners find office space to rent, they may run into a difficult time understanding the common area factor and how it pertains to rentable vs. usable square feet. This can be confusing at first but once you get a handle on how these two measuring qualities relate and dictate the results, you will find that renting the right size office space to be an easily achievable goal.

What Is The Common Area Factor?

Many people have heard of the common area in a commercial building. It is the area of the commercial space which is shared with other commercial tenants in the office building. There are two common area factors, the floor common area factor and the building common area factor. The floor common area factor refers to the single floor only where the business tenant leases commercial office space while the building common area factor relates to those common areas which all tenants in the commercial office building have access to and are able to use. The total common area factor which you are given by the office space landlord for information prior to leasing the office space is the sum of both of these common areas.

Understanding Rentable Vs. Usable Square Feet

It is important to understand the difference between rentable and usable square feet prior to renting office space. Rentable square feet is the amount of square footage which you pay rent for. This includes all areas of the interior building space which you pay for such as the office area, restroom, closets, etc. Your commercial office space rent will be the rentable square footage multiplied by the square footage lease rate.

As for usable square feet, this calculation relates to the amount of space you put to use. This will also include the doors and structural walls as well. If you share restrooms with other tenants, you will have to pay a portion of the price for those facilities in addition to any other common areas.

Ensuring That Your Square Footage Calculations Are Accurate

The aspects of common area factor, rentable square feet and usable square feet can be a bit confusing, even when provided with the general overview of such concepts. The best way to ensure that you have a good grasp on these concepts and that you know exactly what you are renting and what you are ultimately paying for, having a tenant representative by your side is essential.

The tenant representative will explain these factors in great detail for you and help you to negotiate with your landlord to ensure that you are getting exactly what you are paying for. These concepts can be even trickier if you lease more than one floor of an office building and need to know what you are paying for and whether or not your commercial office space budget will allow for such rentals.

Many get the hang of the common area factor, usable square footage and rental square footage after leasing office space a few times. However, having a tenant representative along to help will definitely make the leasing process much simpler for most office space tenants.

Commercial Office Space In The Waukegan Area

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Chicago is a popular city for business owners to rent office space within. With that said, not every business owner wants to bring their business to a big city such as Chicago. One may look for a populated area where business will be good but opt to rent office space in smaller cities. If this sounds like your current situation, taking a look at the Waukegan area for office space rentals is a good idea. The Waukegan area offers city-like amenities in a suburban location. With a scenic lakeside setting and easy access to and from the location, business owners will find it a wise idea to rent office space in Waukegan.

Easy Commuting To and From Waukegan

Waukegan is a suburb of Chicago but still offers easy commuting to those who live outside of the area but work in Waukegan. Interstate travel gets you to Waukegan with ease and there are plenty of side roads to travel down to reach your leased office space in Waukegan. Public transportation options are also available to those who would rather use this means of travel as opposed to driving themselves to the Waukegan area. No matter how you travel to reach the Waukegan area, accomplishing this goal is easy to do.

Scenic Location

With its location close to Lake Michigan, one can appreciate the fact that the scenery in the Waukegan area is truly spectacular. Whether you are driving into work and taking in the sights or planning some activities to take part in outdoors after work, the scenic location of Waukegan is sure to appeal to you.

Amenities Close By

Most business owners don’t want to rent an office in a location where there are few amenities close by. You want to take advantage of amenities in the local area as will your employees who need to run errands and grab a bite to eat on their lunch breaks. In Waukegan, there are plenty of retail stores and restaurants to take advantage of around the town and you, your employees and customers as well will all appreciate the amenities which are found in the local vicinity.

Plentiful Commercial Office Space Leasing Opportunities

If you find that the information listed above makes Waukegan and the surrounding area sound even more appealing to you than before, you will love the fact that there are plenty of commercial office space leasing opportunities available throughout the city. Professional office buildings, retail store options, restaurant locations and light industry facilities are all available to be leased in Waukegan. No matter what area of business you are in, the ideal leased office space awaits you in the Waukegan area.

Waukegan and the surrounding areas offer business owners everything they could possibly want in a suburban location. Leasing office space in scenic Waukegan allows you the freedom of a suburban location with all of the great amenities of the big city. Whether you need to rent a small office space or a large corporate building, you will be able to find the ideal space in Waukegan and neighboring communities.