Illinois Commercial Real Estate
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Commercial Real Estate Attorneys in Illinois
Commercial real estate can be complicated for people who are not well versed in commercial real estate law. Having an experienced commercial real estate lawyer on your side will help you save time, money, and stress when navigating any issue that involves commercial real estate.
At Hirzel Law, PLC, our team of commercial real estate lawyers has comprehensive experience in managing commercial real estate matters. Our attorneys are committed to providing our clients in with reliable legal advice and representation for commercial real estate transactions. When you need dependable legal advice on any dispute or transaction, our skilled commercial real estate lawyers are ready to represent your best interests.
What is Commercial Real Estate?
Commercial real estate properties are designed to make money. Commercial properties range from small retail businesses to full-scale manufacturing plants. Though it is not abnormal for commercial property owners to run businesses out of their own real estate investments, it is much more common for an owner to rent out space to someone else. The rent a tenant pays to the owner becomes that owner’s income. Commercial property can be used in creative ways to generate income for both its owner and its tenant. To make things simpler, commercial real estate is typically categorized into six different areas:- Housing
- Hotel
- Retail and Restaurants
- Offices
- Industrial
- Special Purpose or Multi-Purpose
Do I Need a Commercial Real Estate Attorney?
Commercial real estate attorneys work to protect individuals and companies from financial pitfalls when buying or selling property and can be an invaluable resource for a commercial property owner even after a purchase or sale is consummated. Most home buyers rely on a realtor to ensure the legal details of the contract are handled by a reputable attorney. Business owners, on the other hand, should make it a priority to carefully select an experienced commercial real estate lawyer when buying or selling commercial buildings, leasing retail space, starting construction and development projects, resolving zoning issues, and other types of commercial property transactions. The commercial real estate attorneys at Hirzel Law also represent developers in connection with land purchases and sales and the resulting commercial developments. These projects involve mixed use developments and commercial uses. We assist clients in the initial development and construction of the project, financing, obtaining permits, an analysis of zoning requirements and drafting and entering construction contracts. After the initial buildout is complete, we assist clients with the next phase of the development, including drafting letters of intent, negotiating leases, and reviewing loan documents, including guarantees, promissory notes, and assignments of leases. Once development is complete, we can assist clients in protecting their investment in the project through eviction proceedings and enforcement actions. If you are a current or prospective Illinois commercial real estate owner or developer, look to Hirzel Law’s commercial real estate lawyers for sound advice and understanding on all issues regarding land purchases, sales, and commercial development. If development is contemplated, we are prepared to help with the initial planning and development stages for commercial real estate projects, including the drafting of construction contracts and zoning compliance. Our real estate attorneys are highly skilled in acquiring required permits for commercial property, as well as drafting, negotiating and/or handling:- Construction Contracts
- Mechanics Liens
- Construction Litigation
- Due Diligence
- Estoppel Letters
- Financing
- Insurance Analysis
- Land Use and Zoning Requirements
- Leases
- Letters of Intent
- Loan Documents, Including Promissory Notes and Guarantees
- Purchase Agreements
Why Hire an Illinois Commercial Real Estate Attorney?
Any commercial deal without commercial real estate attorneys is high-risk for litigation. When making deals where state and local codes, regulations, and hidden agendas come into play, every large agreement should be overseen by a qualified attorney with an expertise in commercial real estate. Here are some reasons why you need to hire a commercial real estate law firm:- Protect Your Interests
- Oversee all Paperwork and Guide You Through the Process Through Closing
- Handle Contracts
- Save You Time
- Negotiate For You
- Extensive Understanding of the Laws
- Conduct Inspections
- Provide Legal Assistance
- Provide You Peace of Mind