Our focus is representing and assisting corporations and individuals for the planning, acquisition, disposition and leasing of facilities.   Mike Wilens began in 1985 working for PODOLSKY & ASSOCIATES and in 1993 founded KBF.    

For 29 years KBF has been a part of the Metro Chicago Commercial Real Estate network of brokers.   This network is involved in most commercial real estate transactions in Chicago and surrounding suburbs.  

• Whether a large or small brokerage organization, most all commercial real estate professionals in Northern Illinois utilize the same multiple listing system (MLS) when selling or leasing an office, industrial or retail property.  In the past this was not true. Today, the core marketing effort of every commercial real estate professional in Northern Illinois is identical. 
• However, the individual broker handling each property is unique and different. Experience, professionalism, attention to detail. persistence and ethics are what separates quality brokers from lessor quality brokers. 
• Is a large real estate company a good choice for selling or leasing commercial real estate? Sometimes, though often not.  Depends on a variety of issues.  One issue worth analyzing is competing properties being offered by the brokerage organization and/or the individual you hire.  If a real estate brokerage company is trying to simultaneously represent similar properties to yours (similar in size and location) it's worthwhile to consider potential conflict-of-interest concerns.   

• Understanding tenant space and budget requirements. .
• Identify available spaces in desired area within range of square footage needed. 
• Preview of "best match" spaces. 
• Coordinate property tours. 
• Submit LOIs &/or obtain multiple landlord proposals based on requirements. 
• Negotiate lease terms aiming to provide flexibility through lease rights and options - incorporate operating expense cost controls - leverage current market conditions. 

Why is tenant representation important for a renewal or relocation?

Representation can help you identify viable space alternatives and help you understand the market - while saving you a significant amount of time.

What am I communicating to my landlord if I hire a tenant representative for a renewal? Hiring a tenant representative shows your landlord you seriously wish to understand and consider the best space options on the market for you and your organization.

Can a renewal and the selection of a new space be pursued simultaneously?  Understanding legitimate alternatives for purposes of comparing moving vs. renewing can prevent a tenant from being taken advantage of by all landlords.   The answer is absolutely yes.

Why does a tenant need representation for a renewal?  Unless competition occurs between a current landlord and surrounding owners, tenants will find themselves at the mercy of their landlord (and landlords are often not merciful). 

How soon before lease expiration should planning begin?  Beginning the process 9 - 14 months before a lease is scheduled to expire is best.  (16 - 24 months for space requiring extensive, planning, preparation and build-out or renovation).

What if I'm afraid of an adversarial relationship with my landlord?  Though counter -intuitive, securing favorable terms will often help maintain a good relationship with a current (or future) landlord.  A landlord will control the the renewal process when a tenant has no alternative space options (the tenant will have no choice other than to accept the landlord's renewal terms).  Landlords prey on tenants who've not "shopped" the market and this is often when tenants become resentful and the process becomes adversarial.  

Asking a landlord to re-negotiate the terms of a lease agreement is always possible.  While no one can know for certain whether a landlord will agree to change the terms of a lease, it is tempting to underestimate the possibilities.  

Often times a landlord will be in favor of a lease extension long before a lease expiration date. Most landlords appreciate the value of a tenant remaining in their space vs. having to search for and complete a transaction with a new tenant.   

Do you know if your landlord is charging you properly based on the terms of your lease?  Many tenants do not.   An owner and their attorney negotiate the terms of a lease and at a later date a property manager employed by the owner interprets the lease document for a determination of how much money a tenant is responsible to pay the landlord.  

Lease misinterpretations, oversights, math errors and errors in square footage all contribute to mistakes  resulting in tenants paying more (sometimes far more) than they had agreed to pay when they signed their lease.    The potential for error is great.  Unless detected, a miscalculation can cost a tenant thousands and thousands of dollars over the life of a lease (depending on square footage).  

Our experience ranges from small construction/renovation projects to lead broker and advisory assistance for new build-to-suit construction for facilities of up to 230,000 square feet.

Whether a large or small project we have lots of experience assisting clients for build to suit construction and/or a more traditional bidding process.  We're not architects, nor are we general contractors and our expertise is not construction.   However, if you're searching for ideas for an upcoming project, we'd be happy to provide suggestions.