Illinois

Illinois landlords, assign your tenant's lease to a new owner of the property with this easy-to-use Assignment of Lease by Landlord form.

• The Assignment is between the current landlord, the purchaser of the property (new landlord) and the tenant.
• The current landlord assigns the lease to the new landlord, and the tenant covenants to pay rent to the new owner and continue to perform the tenant's obligations under the lease.
• The current landlord and the purchaser agree to indemnify each other against any claims or actions arising out of any breach of the terms of the assignment.
• This form can be used for either commercial or residential rental properties.
• Available in MS Word format.
• Intended to be used only in the State of Illinois.

Rent commercial office, retail or restaurant space to a business tenant with this comprehensive Commercial Lease Agreement for the State of Illinois.

• The tenant has an option to renew the lease at the end of the initial term.
• The template includes two alternate clauses for property taxes, depending on whether they're being paid by the landlord or the tenant.
• The lease also contains provisions for either (i) a double net lease (landlord responsible for mechanical and structural repairs), or (ii) a triple net lease (tenant pays for all repairs and maintenance).
• Common parking areas are shared by all tenants and their employees and customers.
• You can customize this template to fit your exact needs.

Don't pay fat legal bills every time you need a lease drawn up. Download the Illinois Commercial Lease Agreement template for your properties.

Sublet all or part of your leased business space to a subtenant with this Illinois Commercial Sublease Agreement.

• The Sublease can be used for office, retail shopping or other business premises.
• The subtenant pays the security deposit and the rent to the original tenant, who in turn pays the landlord.
• The original tenant must still perform its obligations under the head lease for the duration of the lease term.
• The original tenant assigns its interest in the sublease to the landlord.
• The original tenant directs the subtenant to pay rent directly to the landlord if the original tenant defaults in any of its obligations under the head lease.
• Available in MS Word format.
• Intended for use only in the State of Illinois.

Lease office, retail or other business premises to a tenant with this Illinois Commercial Triple Net Lease Agreement.

• Triple Net Lease. A triple net lease means that the lessee covers all costs and expenses to do with the premises including structural repairs.
• Renewal. The lessee has an option to renew the lease for an additional term.
• Taxes and Charges. The lessee will pay all expenses, taxes, levies, and charges with respect to the premises, all utilities and services, and operating expenses for its business.
• Insurance. The lessee is responsible for carrying fire, extended coverage, and liability insurance.
• Alterations and Repairs. The lessee is responsible for all alterations, improvements, maintenance and repairs.
• Damage or Destruction. Clauses outlining abatement of rent or termination of the lease the event of damage, destruction, or condemnation of the building.
• Subordination. The lessee agrees to sign a subordination agreement or other documents necessary to subordinate the lease to a mortgage or other charge, if required by the lessor.
• Additional Rent. Optional clause for percentage rent to be paid in addition to the base rent, if applicable.

Obtain a Guaranty of a commercial lease from a business tenant with this downloadable template form for the State of Illinois.

• The Guaranty is absolute, unconditional, irrevocable and continuing.
• The guarantor guarantees payment of all rent, debts, and enforcement costs due to the landlord, and the performance of all of the tenant's covenants and obligations under the lease.
• If the lease is terminated due to the tenant's default, the guarantor agrees to enter into a new lease on the same terms and conditions which will continue until the date on which the original lease would have terminated.

To download the Illinois Guaranty of Commercial Lease form, add it to the shopping cart and check out via our secure transaction server.

Cancel a business lease for office or retail space with this Illinois Mutual Cancellation of Commercial Lease template.

• This agreement is for commercial tenants only. You need a different form for residential rental properties.
• Both the lessor and lessee mutually agree to terminate the lease as of a specific date.
• The cancellation of the lease extinguishes all the rights and obligations of the parties under the lease, except for those which accrue prior to the termination date.
• Available in MS Word format.
• Intended to be used only in the State of Illinois.

IL commercial landlords, renew and extend a business tenant's lease with this customizable Illinois Renewal and Extension of Commercial Lease.

• The tenant has no further right to extend or renew the lease.
• The renewal contract sets out the new expiry date and the rental payments for the renewal term.
• All other terms and provisions of the original lease remain in full force and effect.
• This Agreement is for commercial properties. For residential tenancies, a Residential Lease Extension form is required.
• Intended to be used only in the State of Illinois.