Commercial Real Estate Contract Disputes

For business owners, real estate investors, commercial landlords and many others in the Chicago area, commercial real estate contracts are incredibly important. They help to define the rights and responsibilities of all parties, and they are legally binding with significant financial implications. When disputes or conflicts arise, all parties must know how to proceed.

That’s where we can help here at Norman J. Lerum, P.C. Our lawyers have over combined 100 years of experience with commercial real estate and other legal issues in the Chicago area and across Illinois. Our lawyers are zealous advocates for our clients, always putting their best interests first. Contact an attorney today for your initial consultation.

Why Would Conflicts Arise?

Disputes can take many different forms, and it often depends on the type of commercial real estate contract being used.

For example, if commercial real estate is being sold, there could be a disagreement over the valuation of that property. There could also be conflicts about when the new party officially takes ownership or can begin using the property as they see fit under purchase/sale contract. Additionally, complex payment schedules may be used, rather than an upfront payment, which can lead to conflict when these agreements are not met.

With leasing contracts, disputes sometimes center around financial responsibilities. The contract should determine how much should be paid in rent, but it also goes far beyond that. It may address things like property taxes, insurance payments, maintenance and upkeep costs and much more. Disputes can happen when parties fail to pay or disagree regarding who should be responsible for these costs.

Additionally, disputes can arise when one party wants to break the lease contract. Perhaps the business owner who is leasing the space wants to break their agreement early, or perhaps the property owner wants them to vacate the premises so they can sell that property. They may need to review break clauses and other provisions.

Resolving A Dispute

For all of these issues and many more, our team can help. Just call 312-487-2154 or use the online contact form to set up your initial consultation today. You can trust us to put you first, to bring a deep legal knowledge to a complex situation and to stand up for your rights every step of the way.