by admin | May 5, 2025 | Commercial Real Estate
I’m proud to share a recent success story that highlights the power of diligent tenant representation in commercial real estate.
As a commercial realtor, I had the privilege of working with a not-for-profit agency, Volunteers of America committed to providing counseling and medical services to those in need. Acting as their tenant representative, I helped guide them through the process of securing a lease for a new location that would support and enhance their mission.
After a thorough search, I was able to help them identify the ideal 2nd generation medical office space—one that was not only move-in ready but also perfectly suited to the specialized services they provide at a price they could afford. The layout, accessibility, and infrastructure aligned seamlessly with their operational needs.
I negotiated a favorable lease on their behalf and secured tenant improvements to ensure the space would be comfortable, functional, and reflective of the organization’s goals. In addition to the lease terms, I connected them with trusted trade professionals to support a smooth transition—offering referrals for signage and locksmith services to help them get up and running quickly.
If you’re looking for a commercial space that supports your organization’s growth and impact, I’d love to help! Contact Sharon Bogetz at 847-370-9131
by admin | Apr 2, 2025 | Commercial Real Estate
As of January 1, 2025, The Illinois Real Estate License Act was amended, which brought several huge changes into Illinois Law as it relates to Commercial Real Estate. All licensees in the State of Illinois must now have a written brokerage agreement for all clients and all transaction types. This includes when working with a seller, buyer, landlord, tenant or investor and includes residential, leasing, commercial, and property management transaction types. The amended license act also requires that brokerages disclose in their written agreements, whether on the seller/landlord side or buyer/tenant side, all amounts of compensation they will charge their own clients and any amounts they might pay to other cooperating brokers in transactions.
by admin | Mar 9, 2025 | Commercial Real Estate
I just sold another commercial office building. This building was used as a dental office. If you have a commercial building that you want to sell, I can help. Call, text or email me. I am a seller representative specialist who works 7 days a week!. I specialize in dental and medical properties as well as multi-unit properties.
by admin | Feb 23, 2025 | Commercial Real Estate
Leased. Sharon worked with the Landlord to get a leased signed for a commercial space in Lincoln Square. If you have a commercial space that you need to rent, ask Sharon Bogetz, she’s an expert commercial realtor. Contact her at 847-370-9131
by admin | Dec 8, 2024 | Commercial Real Estate
What is a Modified Gross Lease in Commercial Real Estate?
A modified gross lease is a hybrid type of lease agreement that combines elements of both gross leases and NNN leases. Under this structure, the landlord typically covers the base operating expenses, such as property taxes, insurance, and maintenance, while the tenant agrees to pay for specific additional costs, like utilities or janitorial services.
In other circumstances, the Landlord sets a base year for the additional rent and the tenant pays the increase in CAM (Common Area Maintenance) and Real Estate taxes from the base year to the new year. The responsibilities are negotiated upfront, providing both parties with clarity and flexibility.
Key Points of a Modified Gross Lease
- Shared Costs: The landlord and tenant split increase in operating expenses based on terms outlined in the lease.
- Predictable Base Rent: Tenants pay a fixed base rent, covering agreed-upon landlord expenses.
- Flexibility: This lease type is tailored to meet the unique needs of both the landlord and the tenant.
- Cost Stability: While tenants pay for certain extras, they avoid the unpredictability of entirely net leases.
- Customizable: Negotiations determine which costs are covered by whom.
Example of a Modified Gross Lease
Imagine a tenant leasing 2,000 square feet of office space in a 10,000-square-foot building. The landlord includes property taxes, insurance, and common area maintenance in the base rent of $25 per square foot. The Landlord sets a base year for CAM and real estate taxes and the tenant pays the increase from the base year to the new year.
This arrangement allows the landlord to maintain property standards while providing the tenant with manageable costs and autonomy over their specific usage.
A modified gross lease strikes a balance, offering both landlords and tenants a fair, transparent, and adaptable lease structure tailored to their respective needs. It’s an excellent choice for businesses seeking cost stability without the complexity of a fully net lease.
Sharon Bogetz is a residential and commercial real estate broker with Century 21 Universal since 2019.
by admin | Nov 20, 2024 | Commercial Real Estate, Residential Real Estate
Last week in a 50-0 vote, Chicago’s City Council voted against Mayor Brandon Johnson’s proposal to increase property taxes. The proposed property tax hike was part of the mayor’s plan to address a $500 million budget gap for fiscal year 2025. It will still be a challenge for the Mayor to make up the shortfall Chicago is facing.
If you own property, you will be able to better manage your expenses. If you own residential or commercial property in Chicago, property taxes should not be a concern for your buyers. If you are buying property in Chicago, you should not expect a tax hike.
IF you are looking to buy or sell real estate in Chicago, call Sharon Kantor Bogetz at 847-370-9131. She currently has listed a residential condo for sale and a commercial property for rent in Chicago. She has been a realtor with Century 21 Universal since 2019.
