The Chicago Illinois Building Operating Cost Addendum is a legal document that outlines the expenses associated with operating and maintaining commercial or residential buildings in the city of Chicago, Illinois. This addendum is typically included as part of a lease agreement and serves as an additional agreement between the landlord and tenant regarding the sharing of building operating costs. Keywords: Chicago Illinois, Building Operating Cost Addendum, legal document, expenses, operating and maintaining, commercial, residential buildings, lease agreement, landlord, tenant, sharing, costs. There are different types of Chicago Illinois Building Operating Cost Addendums that may be used, depending on the specific requirements of the building and tenant. These include: 1. Commercial Building Operating Cost Addendum: This type of addendum is specifically designed for commercial buildings, such as office spaces, retail stores, or industrial properties. It outlines the expenses related to common area maintenance, repairs, utilities, property taxes, insurance, and other operating costs that the tenant may be responsible for sharing with the landlord. 2. Residential Building Operating Cost Addendum: This addendum applies to residential buildings, including apartments, condominiums, or multi-unit residential properties. It details the costs associated with maintaining common areas, managing the building, utilities, property taxes, insurance, and other shared operating expenses that tenants may be required to contribute towards. 3. Mixed-Use Building Operating Cost Addendum: This type of addendum is used for buildings that have both commercial and residential units within the same property. It covers the costs related to both the commercial and residential portions of the building, specifying the responsibilities and obligations of tenants and the sharing of operating expenses accordingly. 4. Single-Tenant Building Operating Cost Addendum: In cases where the entire building is occupied by a single tenant, this addendum outlines the specific operating costs that the tenant will be responsible for. This might include expenses related to maintenance, repairs, utilities, property taxes, and insurance, among others. Overall, the Chicago Illinois Building Operating Cost Addendum is a crucial component of lease agreements in the city, ensuring transparency and fairness in the sharing of building operating costs between landlords and tenants.
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.