Office Space: Now That The Lease Is Signed, What’s Next?

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Okay, so you finally found the perfect Chicago commercial office space to rent. What to do now that the lease is signed.  The lease is signed and moving in the near future is inevitable. The best way to ensure that your commercial office space move goes as smoothly as possible is to have a to-do list prepared prior to doing so. By having everything in writing, you know that the move will go according to plan and no stone will go unturned in the commercial office space move. The following offers a moving preparation list that you can consult and feel good knowing that your move will be a successful and uneventful one.

  • Prepare a Game Plan: Once the office space lease is signed and you know how much time you have prior to moving, the first step is to prepare a game plan. Write down what you will need to do and in what time period you will need to complete each task. Also, in addition to having a list of the pertinent items for the move, you should also have a calendar dedicated solely to your office space move as this will help you to keep things orderly.
  • Choose a Moving Company: The next thing to do once your office space lease is signed is to hire a moving company to move your belongings to your new commercial home. Contact various commercial office space movers, review their price listings and make sure that they are available on your desired move date. In addition, ask them if they offer boxes and, if so, whether that is included in the price of the move.
  • Create Communication Alternatives: When you are in the moving process, it is not always possible or wise to cease business operations during that time. Since you will have to cut off communications in some ways when you are in the move process, make sure that you have alternate communication options available for your clients, such as providing them with cell phone numbers or email addresses which they can use to contact you when needed.
  • Contact Utility Companies: You must also remember to contact both current utility companies and future utility companies to let them know of your impending move. Keep in mind you may be able to keep the same providers and even the same phone numbers if you are moving in the same general location.
  • Pack Up Current Office in A Convenient Manner: When it is a few days prior to your move, you have to start packing up your current office space to prepare for the mover’s arrival. Make sure that everything is labeled and orderly so that you can unpack the items in an orderly fashion when you arrive to your new office space.
  • Enlist the Help Of Your Employees: It is also a good idea to enlist the help of your employees. Have them pack up their individual office space and keep their boxes in their rooms until the movers arrive. This too will help with the overall efficiency of the move.
  • Moving Day: When moving day arrives, you will have already decided whether or not all employees should be there on that day or just essential employees who will be able to help with the move but not be too great in number that they get in the way. Make sure there are supervisors present to direct the movers at the new location and let them know what items go where.

Moving day for your new office space doesn’t have to be difficult. Once you sign the office space lease, simply follow this list of tips and get ready to enjoy your new office space location.

Chicago Suburban Markets Perfect For Office Space Tenants

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Office Space

When business owners start the search for new commercial office space, they may not want to choose a location within a big city. In other words, suburban markets are more ideal for one or more reasons. This is true with business owners in the Chicago area. Although the city is a great place to live and enjoy the attractions, working within the city is not the right answer for all business owners. Fortunately, there are plenty of Chicago suburban markets which hold so many wonderful opportunities for Chicago-area business owners.

O’Hare Office Market

The O’Hare suburb of Chicago is a beneficial locale to lease office space if you are searching for a suburban Chicago market. Close to O’Hare International Airport, the convenience of the area for business travelers can easily be seen. Even if your employees don’t travel that much and your company doesn’t see many clients coming in from out of town, the O’Hare suburban market is still a great place to lease your next office. It is close to many area interstates, which makes commuting easier for yourself and your employees. Also, there are plenty of other companies and industries in the area which will often allow new clients to find their way to your office if they are in the area for other reasons as well.

North Suburban Office Market

If you are a business owner eager to lease an office in the North suburban area of Chicago, you will find plentiful options. Towns such as Skokie, Evanston, Morton Grove, Wilmette and more are filled with commercial real estate leasing options. Situated close to Lake Michigan, these towns are not only perfect for commercial offices but they are quite scenic locations as well. This makes it easy to both live and work in the towns in the North suburban market area of Chicago.

East-West Corridor Office Market (Oak Brook/Naperville)

The East-West Corridor area of Chicago also holds a lot for business owners in the way of ideal commercial real estate. Two towns in particular which are fantastic spots to lease commercial office space include Oak Brook and Naperville. Oak Brook is located about 20 miles west of the city and is a perfect suburban location for business owners seeking office space for rent outside of Chicago. Those who lease an office in Oak Brook will find they have plenty of well-known neighbors including Ace Hardware, Papermate and the McDonald’s Corporation, to name a few.

As for Naperville, this town is located a bit further west of Oak Brook, being located 30 miles outside of the city. Naperville has plenty of commercial leasing options, both large and small, for business owners to take advantage of. Lucent Technologies, Kraft Foods and ConAgra Foods are some of the big names in business which you could have as your neighbor if you lease a Naperville office. Naperville is also a nice place to lease office space as you will find plenty of amenities close by, which can be beneficial for both you and your employees.

Northwest Office Market (Schaumburg)

The Northwest region outside of Chicago has plenty of commercial leasing options, including within the town of Schaumburg. Schaumburg is home to two large corporations, IKEA and Motorola. It is also an area filled with many different shops and restaurants as well as plentiful professional offices. Those who lease an office in Schaumburg will love the convenience of having Chicago not too far away but appreciate not having to deal with the traffic and congestion which the big city holds. Schaumburg offers small professional business settings as well as office space for large corporations to lease.

If you are eager to lease office space in the Chicago suburban market, then looking further into the options above is an excellent place to start your commercial office space search.

How Much Office Space Do I Need?

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Searching for commercial offices for lease is a time consuming task for many. For those who have gone through this procedure before, it may not be as tedious. However, if you are new to the office space leasing routine, you may be overwhelmed with how many things you need to do to get the perfect office space. Although deciding on the location is a prime consideration, you must also seriously consider how much space you will need for your next office lease. In order to determine the right amount of office space, the following will help.

Type of Business

The industry in which your business lies will often tell a lot about how much space you require when you lease office space. Certain businesses need a specific minimum amount of space in order to operate properly. The industry standards are ones you can look to in order to determine how much office space is necessary in your case.

Number of Employees

Another consideration to keep in mind when figuring out how much office space you will need is to factor in the number of employees. As you might imagine, if you are a small company with few employees, you may not need too large an office space. On the other hand, if your company employs hundreds of individuals, the office space amount will be greater.

Office Equipment

Also consider the office equipment which your business uses. Many business owners forget about accommodating their large office equipment such as printers, fax machines and more. You want to have ample space for all of your office equipment and not have to find spots to fit it in at the last minute.

Private Offices or Shared Office Space

Whether you want private offices or shared office space will also help you to figure out how much office space you need. You should also determine if you want all of the private offices to be similar sizes or if some of the corporate officers or company heads will get larger offices and then have smaller offices reserved for other employees. Shared office space may help you to limit the overall amount of office space that you need, especially if you share amenities with others in the corporate office building. For example, if you share a reception area and a conference room with other companies in the general office building, this may limit the amount of space you need for your individual office space lease.

Calculating the right amount of office space is essential in order to acquire the best possible office. Not only will choosing the perfect amount of space for your leased office premises accommodate your company in the best manner but it will also save you money in the long run. You don’t want to lease more office space than you need. Doing so can cost quite a bit of money, money which your company simply can’t stand to lose. Determining the right amount of office space will ensure that you get the office your company needs for the price it can afford.

Negotiating Office Space Renewal Options

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When you settle into your new office space, you may not initially think of the time when office space renewal will occur. However, time often moves quickly and before you know it, your office lease will be up for renewal. Sometimes business owners want to move on to a new location while others love where they are leasing and want to continue doing business in their current locale. For the latter group of individuals, there will come a time when negotiating office space renewal is at hand. Here are some options with regard to negotiating office space renewal and such options may make the renewal process take place in the smoothest manner possible.

Do Your Research With Respect To Current Market Trends

When you renew your commercial office space lease, you may be able to get a better deal on the future lease than your initial one. Current market trends may make it easier to negotiate commercial office space leases and you should research these trends to see what the current market looks like when it comes to real estate leasing for businesses.

Have a Tenant Representative Help Out

One of the best ways to make sure you are covered when the time comes to negotiate office space renewal is to have a tenant representative with you for the negotiation process. A tenant representative knows what the real estate market is doing and will make it easy for you to negotiate office space renewal. They not only lead you in the negotiations but will help you to negotiate in the best manner through proper planning and tactics. A tenant representative is your go-to real estate representative when it comes to commercial office space leasing.

Consider the Current Office Space Leasing Market

The current office space leasing market must be considered before negotiating the renewal of your office space. If the current market regarding commercial leasing is struggling, then you as a commercial office space tenant may get the best deal at the time. However, if there are plenty of tenants willing to lease office space in your local area, the lease costs may be a bit higher.

Use Your Past Positive Leasing Status to Boost Your Future Lease Options

Let’s face it. Commercial office space owners and commercial office space tenants both benefit from renewing an office space lease. There is no need to go through initial lease negotiations as would occur with a new tenant, the landlord doesn’t have to repaint or make renovations to the property and if the tenant was a prompt paying tenant, the owner will love this factor as well. Therefore, if you were a good tenant, chances are that the negotiations for the office space lease renewal will go smoothly.

Negotiating a renewal of your office space lease doesn’t have to be a tedious venture, especially if you use a tenant representative throughout the process. Before you go into any type of negotiations, make sure you know what you want to ask for, that the requests are reasonable and that you have a tenant representative by your side.

Chicago Startups Looking For Office Space

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As a Chicago startup company, you have plenty of things to think about such as how to gain a client base, ways to make your business attractive to the masses and how to staff your office with the best individuals in the industry. Another important consideration is where to set up your office space and whether to rent or buy. Many startup company owners choose to lease office space for a few different reasons. Some want to lease the office space to ensure that they are where they want to be a few years down the road and, if not, they can simply wait until their lease expires and move. Another reason to lease office space when you are a startup company relates to the square footage of the office. Some startup companies will start out with a few employees but then later on expand their operations to include more individuals. By leasing an office, the startup company can move to a bigger office space when their company expands.

For those who are new to the startup industry, there are a few things you should know about leasing office space as a startup:

  • Lease Office Space with Your Industry in Mind: As a startup company, you don’t want to lease just any type of office space. You have to pick an office space which will suit your individual industry. You want to be in the prime location which benefits your industry, both with regard to operations and accessibility to clients as well.
  • Consider Current Employment Size As Well As Future Number of Employees: When you are putting a startup company into motion, chances are that you won’t know what your employee total will be right away. Startups take some time getting organized and there is always room for modifications along the way. However, you should have a base number to start with as this will help you to figure out what size of leased office premises you will need.
  • Contemplate Startup Funds When Leasing An Office: Before you sign an office lease, figure out how much money you will have to contribute to the lease of the premises. You don’t want to be caught short but you also don’t want to fail to obtain the right type of office lease simply because you are being frugal.
  • Choose An Office Space To Lease Which Offers All Of Your Required Amenities: Even though your company is a startup, you probably know what your business requires in the way of desired amenities. Pick an office space to lease which will cater to your commercial business needs and make your startup the best that it can be.

Starting your own company from the ground up is a difficult and daunting task but it is made much easier when you lease office space rather than buy it. When you follow the tips above, you can embark on the right path to lease the ideal piece of real estate for your new startup company.