Legal Question in Landlord & Tenant Law in Illinois
Renegotiating commercial lease
I lease commercial space in a large shopping mall. The rent we pay is no longer a fair price, because mall traffic has gone down tremendously, and we cannot turn a profit. If we approach the landlord company for a lower rent, can they evict us or kick us out? We pay our rent and are good tenants, but times are tough and we need rent relief, especially in this economy.
Can attempting a lease renegotiation make us lose our space?
1 Answer from Attorneys
Re: Renegotiating commercial lease
Surely just broaching the subject of a renegotiation can't be a ground for eviction. That said you're likely bound to your lease unless a new lease/rent is agreed too. Your typical reasons for eviction would be a failure to pay rent or breach of other lease terms. Attempt to build some contingencies into the lease related to vacancies in the mall.
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