Office Relocation Gives Client More Space and Savings
When a client needed additional space but did not want to move, FCR investigated their options and found a sub-lease solution that will save the company $120,000 over seven years. This is even after taking into account $50,000 in moving costs, tenant improvements, and $155,000 in rent due on the existing lease. The new space is 7,500 square feet of Class A office space located in a more desirable Northwest suburban location.
Industrial Building Buyer Saves on Taxes While Seller Gets a Great Price for Property
FCR represented the seller in the sale of a 24,000-square-foot manufacturing building in Schaumburg. After aggressively marketing the building in a buyers market, FCR found an interested technology company and negotiated a purchase contract at $53 per square foot, subject to Cook County 6B tax incentives. FCR coordinated the tax appeal which resulted in taxes that are half the previous owner’s taxes for 10 years. In addition, FCR also drafted the contract language that both sides eventually agreed upon, after attorneys for both sides threatened the deal.