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- When it comes to leasing commercial property, drawing up a lease agreement is arguably the most important part of the process. Having a lease agreement is an essential step in securing the future of your business. Welcome back, loopers. Its Andrew Chung with Doorloop. Today were diving into a very docHub topic for anyone who is interested in commercial leasing in the state of Illinois. Well be discussing the ins and outs of the Illinois commercial lease agreement. Whether youre a landlord, a tenant, or a property manager this video will provide invaluable insights for you. (intro chime) Lets begin by understanding what a lease agreement is. Essentially, a lease agreement is a legally binding contract between a landlord and the tenant. In a commercial lease context. The landlord is the owner of the building, and the tenant is a business that rents commercial, industrial or office space. Unlike residential leases that usually cover a two year period, commercial leases can las
