Illinois Commercial Lease Agreement Template
An Illinois commercial lease agreement states the conditions by which a retail, industrial, or office tenant agrees to conduct themselves and pay rent to the landlord for the length of the contract. A typical agreement should detail the basic elements which state the fees and bills to be paid by each party concerning items such as electricity, water/sewer, landscaping, etc. Due to the amount of money invested by the landlord and tenant, the term is usually between two (2) and five (5) years in length with renewals at a predetermined increase rate. Due to the financial implications of this type of contract, it is advised that it be signed with a notary public witnessing and acknowledging the signatures.