Chicago Landlords Are Refusing To Pony Up Cash For Tenant Improvements

Like players of credit card roulette at a Michelin-starred restaurant, office landlords are increasingly attempting to duck the bill for tenant improvements, closing their wallets as shaky fundamentals linger on — and on.

Panelists at Bisnow’s Chicago Office Summit squabbled over who should bear the financial burden for costly tenant build-outs, exposing collegial tension between landlords and tenant representatives at the event, hosted at Braveheart by IndusPad.

While some panelists said participating in the amenities arms race is a must to stay competitive, others argued that capital spent on tenant improvements is no longer feasible as market and financing weakness pushes them to the breaking point...

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RSK: Definitely a come to Jesus moment happening in downtown Chicago`s office market. Funny they do not mention safety as a component.