Illinois | Real Estate Law
10/23/11, 8:37 pm
Legal Question
I own an office building and my bank tenant and I agreed on an option-to-purchase price when we entered into the 6-year lease 4 years ago. We also agreed that if I sold the building to someone else, I would pay the remaining, unamortized building improvements the bank made.
They just made me a purchase offer that does not agree with the option-to-purchase numbers (it's 31% less) in the signed lease agreement, yet they insist that I will owe them $1 million for their improvement costs - per the lease agreement - if I sell to somebody else.
Can they enforce one part of a written agreement and yet ignore - or unilaterally change - another part of the same agreement?
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