Chicago Illinois Acuerdo para Arrendar Propiedad Comercial con la Condición de que el Arrendatario Realice Alteraciones y Reparaciones - Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs

• Category: Propietario Inquilino - Arrendamientos comerciales - Alaska
• State: Multi-State
• City: Chicago
• Control #: US-00865BG
• Format: Word

Description

This form is an agreement between two parties to enter a lease agreement at a later date provided that the lessee makes certain repairs and alterations to the premises to be leased. Chicago Illinois Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs is a legal document that outlines the terms and conditions between a lessor (property owner) and a lessee (tenant) in Chicago, Illinois, relating to the lease of a commercial property. This agreement specifically focuses on the condition that the lessee must make alterations and repairs to the property during the lease term. Key elements covered in a Chicago Illinois Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs include: 1. Parties involved: The agreement clearly identifies the lessor and lessee, including their legal names and contact information. It also specifies any authorized representatives acting on their behalf. 2. Property details: The document provides a detailed description of the commercial property being leased, including its address, size, zoning classification, and any specific features or restrictions. 3. Lease term and rent: The agreement specifies the duration of the lease, including the start and end dates. It also outlines the amount of rent to be paid, the frequency of payment, and any provisions related to rent increases or adjustments. 4. Alterations and repairs: This agreement places an obligation on the lessee to make certain alterations or repairs to the leased property. It details the specific changes or renovations that the lessee is required to make, which could include structural modifications, installing or upgrading utilities, or addressing any code compliance issues. The agreement may also outline the lessee's responsibilities regarding maintenance and repairs during the lease term. 5. Permits and approvals: If permits or approvals from governmental authorities or landlord are required for the alterations or repairs, the agreement should detail the process and responsibilities for obtaining them. 6. Costs and timeline: The document specifies how the costs associated with the alterations and repairs will be shared between the lessor and lessee. It may outline the lessee's responsibility to obtain cost estimates, provide a budget, or secure appropriate financing. Additionally, a timeline for completing the alterations and repairs may be included. 7. Insurance and indemnification: The agreement establishes the insurance requirements for the lessee, such as liability coverage or builder's risk insurance, to protect against any damages or liabilities arising from the alterations or repairs. The document may also include indemnification clauses, holding the lessor harmless from any claims, damages, or losses incurred during the renovation process. Types of Chicago Illinois Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs: 1. Standard Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs: This refers to a basic agreement where the lessor and lessee agree to specific alterations and repairs without any additional complexities or specific provisions. 2. Modified Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs: This type of agreement includes additional clauses or provisions beyond the standard format. These modifications could vary based on factors such as the scope of alterations, the extent of renovations, or the complexity of repair work. 3. Sublease Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs: This agreement is entered into when the lessee subleases the commercial property, but the condition of making alterations and repairs is passed on to the sublessee, assuming they become responsible for the obligations outlined in the original lease agreement. Note: It is essential to consult with a real estate attorney or professional to draft or review any Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs to ensure compliance with local laws and regulations in Chicago, Illinois. This description intends to provide a general understanding and should not be considered legal advice.

Chicago Illinois Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs is a legal document that outlines the terms and conditions between a lessor (property owner) and a lessee (tenant) in Chicago, Illinois, relating to the lease of a commercial property. This agreement specifically focuses on the condition that the lessee must make alterations and repairs to the property during the lease term. Key elements covered in a Chicago Illinois Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs include: 1. Parties involved: The agreement clearly identifies the lessor and lessee, including their legal names and contact information. It also specifies any authorized representatives acting on their behalf. 2. Property details: The document provides a detailed description of the commercial property being leased, including its address, size, zoning classification, and any specific features or restrictions. 3. Lease term and rent: The agreement specifies the duration of the lease, including the start and end dates. It also outlines the amount of rent to be paid, the frequency of payment, and any provisions related to rent increases or adjustments. 4. Alterations and repairs: This agreement places an obligation on the lessee to make certain alterations or repairs to the leased property. It details the specific changes or renovations that the lessee is required to make, which could include structural modifications, installing or upgrading utilities, or addressing any code compliance issues. The agreement may also outline the lessee's responsibilities regarding maintenance and repairs during the lease term. 5. Permits and approvals: If permits or approvals from governmental authorities or landlord are required for the alterations or repairs, the agreement should detail the process and responsibilities for obtaining them. 6. Costs and timeline: The document specifies how the costs associated with the alterations and repairs will be shared between the lessor and lessee. It may outline the lessee's responsibility to obtain cost estimates, provide a budget, or secure appropriate financing. Additionally, a timeline for completing the alterations and repairs may be included. 7. Insurance and indemnification: The agreement establishes the insurance requirements for the lessee, such as liability coverage or builder's risk insurance, to protect against any damages or liabilities arising from the alterations or repairs. The document may also include indemnification clauses, holding the lessor harmless from any claims, damages, or losses incurred during the renovation process. Types of Chicago Illinois Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs: 1. Standard Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs: This refers to a basic agreement where the lessor and lessee agree to specific alterations and repairs without any additional complexities or specific provisions. 2. Modified Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs: This type of agreement includes additional clauses or provisions beyond the standard format. These modifications could vary based on factors such as the scope of alterations, the extent of renovations, or the complexity of repair work. 3. Sublease Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs: This agreement is entered into when the lessee subleases the commercial property, but the condition of making alterations and repairs is passed on to the sublessee, assuming they become responsible for the obligations outlined in the original lease agreement. Note: It is essential to consult with a real estate attorney or professional to draft or review any Agreement to Lease Commercial Property on Condition that Lessee Make Alterations and Repairs to ensure compliance with local laws and regulations in Chicago, Illinois. This description intends to provide a general understanding and should not be considered legal advice.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.