Last year, I was searching for an office space for a client in central Chicago when I came across a commercial office provider that seemed perfect.

• Highly professional team
• 20+ years of 5-star reviews
• Competitive pricing
• Smooth and efficient operations

It was a family-owned business with a great reputation. When my client and I toured the building, we met Donald, one of their property managers. He was knowledgeable, professional, and seemed to know the business inside and out. I was so impressed that I even considered interviewing the owners to learn how they had maintained such high standards for so long.

Despite how perfect everything seemed, I strongly advised my client not to sign the lease without having an attorney review it. But he was so sold on the owner’s pitch that he didn’t think spending a few hundred dollars on a lease review was necessary—so he went ahead and signed.

Five months later…

My client called me—completely blindsided.

He had just received a dry, impersonal email from the same manager stating that their lease was being terminated. No reason. No warning. And no issues on their end.

I immediately reached out to the manager for clarification. The response?

“The termination has nothing to do with the tenant.”

A few weeks later, I emailed another manager—only to have it bounce back. Then I tried Donald, and I got an auto-reply directing all inquiries to a bank.

That’s when it clicked.

The building had been taken back by the bank!

To confirm, I called Donald and asked directly: Did the company go bankrupt?

His response? “Oh no! Just that one LLC. The owners are doing great!”

In other words, The business was structured in a way that allowed them to walk away from this one entity while continuing their other ventures. My client, unfortunately, got caught in the middle.

Key Takeaways from This Experience:

• Due diligence is a must. Don’t let polished presentations and glowing reviews replace a deep dive into a company’s financial stability.
• Pay attention to your lease. The details in your lease agreement dictate how situations like this will be handled. If your lease is a key factor in your long-term plans, consult an experienced attorney before signing to ensure you’re protected.This keeps the flow natural and reinforces the critical role a lease plays in business decisions.
• Always have a backup plan. Even seemingly solid agreements can change overnight.
• If something feels too good to be true—it probably is.

Have you ever had an experience like this? What lessons did you learn?