Legal Question in Landlord & Tenant Law in Illinois

we lease out an office and just got papers that the building is in foreclosure, what are our rights, is the lease still valid, do we have to pay the owner or the bank rent. can they evict us or lock the doors without notice. if we dont pay rent if so does he have to give notice


Asked on 1/14/10, 3:38 pm

1 Answer from Attorneys

Under Illinois law you are subordinate to your landlord's rights and obligations to the lender. On the other hand Illinois law generally prohibits self-help even if you don't pay rent and typically requires a formal eviction process. As to your rights generally vis-a-vis the lender, your lease should give you the answer. If you don't know where to look in it (and it sounds like it), time to consult an attorney and have him or her take a close look at it. This has to do with "quiet enjoyment and possession"..... and if your lease doesn't protect you specifically, you could be at the whim of the lender. The only good thing you may have going for you, as long as you're paying "market rent", is that especially in today's market (assuming you're also not in a "hot" area if there is any such thing today), the lender may not want to wind up with vacancies. At the same time, why do you want to stop paying rent and risk eviction before you know you have a leg to stand on? Good luck.

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Answered on 1/20/10, 8:54 am


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