Marc Realty - Chicago's Commercial Real Estate Leader in Value and Service

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FAQs

How can Marc Realty help me find commercial office space?

Our website is specifically designed to help you find the right space for your business. Just go to the Marc Realty Spacefinder to browse our portfolio, and check availabilities by location and size. Our suburban and city maps can also help you pinpoint the right location for your business. You can also contact one of our commercial brokers by clicking here, or by calling 312.641.5600. back to top

When is the best time to look for office space?

There isn't a prime time for shopping for office space. Commercial real estate becomes available at all different times during the year, so you don't have to be concerned with meeting any seasonal deadlines. The best time to look for office space is dictated by the needs of your business. back to top

Can a small business owner rent space in a downtown location?

Marc Realty has a number of office buildings in excellent locations in the Loop and other parts of Chicagoland that are very well suited to accommodate the space needs and pricing needs of small businesses and individual entrepreneurs. We take great pride in the value we offer tenants of all sizes. back to top

Is there a waiting list for prime locations?

Given our sizable portfolio and knowledge of the Chicagoland real estate market, we can be successful in finding space for all types of business needs. Click here to view our availabilities. back to top

How is my lease approved?

If you have been in business for at least one year and have an operating history, we request financials, such as income statements, balance sheets, tax returns, etc. If you are the owner of a new or start-up business, we will do a credit check on the principals. Applications are usually processed in 2-3 days. back to top

Do I pay my utilities or are they included in my rent?

In some cases, HVAC (Heating Ventilation Air Conditioning) is included in rent; at other properties, it is not. The tenant always pays electricity, phone, and other service utilities. A commercial broker or the property manager can help you figure out those details for each specific building. back to top

Are cleaning services included in my rent?

In most cases, five-day janitorial service for in-suite cleaning is included with your rent. back to top

Are maintenance services included in my rent?

Maintenance for the entire building is included in your rent as operating expenses. That is, we do not charge for maintaining HVAC, elevators, and other mechanical systems. Individual tenant maintenance requests are charged separately. back to top

What is the difference between net and gross rental rates?

Gross rent includes real estate taxes and operating expenses in the base rent, while net rent is quoted exclusive of those expenses. Most of the office space in our buildings is quoted in terms of gross monthly rent. In either case, total rent may be subject to increases over the term of a lease as real estate taxes and operating expenses increase. back to top

What is a tenant improvement allowance?

Some spaces are ready for immediate move-in. Other spaces may be raw, or in need of some other kind of improvement to be suitable for occupancy or to meet your needs. Our design and construction team can do the work for you. Or qualifying tenants will be given a tenant improvement allowance to contract the work themselves. back to top

Can we customize a space to our needs?

Yes! Our experienced design team is ready to discuss your needs, to ensure that your space is everything you need it to be. back to top

What time does the HVAC turn on and off?

Each building is different. On average, the systems run during regular business hours: 7 am to 6 pm Monday through Friday (to 1 pm on Saturdays). back to top

Are there fees to run the system overtime?

If you need to have the heating and cooling system turned on outside of regular operating hours, there probably will be a fee. If your business requires 24/7 heating and cooling, we recommend installing a supplemental unit. (Normally, it will be less expensive than running the building system for your needs.) back to top

How are rents calculated for commercial space?

Monthly rents are based on a rentable square foot (RSF) basis. You may calculate your monthly rent by multiplying the annual RSF rate by square footage and divide by 12 -- the number of months in the year -- to get your base monthly rent. back to top

Lease Terms Defined

Security Deposit: A monetary amount, paid up front to secure a lease. Determined after a review of the financial information. Generally, we require security deposits in the amount of one month's rent from all business entities.

Usable Square Feet versus Rentable Square Feet: Usable Square Feet (USF) refers to the space within your walls. Rentable Square Feet (RSF) includes a proportionate share of the building's lobby, washrooms, common areas, etc. We charge by RSF. (Tenants often use usable square feet to determine how their office furniture will fit in the space.) As part of its commitment to service, Marc Realty offers its tenants space-planning assistance.

Guarantor: A person who provides guaranteed security for payment of a lease. Typically, this is one of the principals of the business.

Lease and Sub Lease: A lease is a legal rental agreement between landlord and tenant. A sub-lease is a legal agreement between an existing tenant and a third-party renting space from said tenant. There are drawbacks to a sub-lease. For example: if a third-party is paying rent to the tenant, but the tenant is not paying rent to Marc Realty, the third-party can be evicted, which is why it is always advisable to deal directly with the landlord.

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