Chicago - Buy-Out Clause

[Frank S.]

I understand this is not legal advice. 

What's the clause you are using for a 60 day buy out option on a Lease?

Here is my proposal

Buy-Out Clause:

“This allows either the tenant or the landlord to break the lease without penalty as long as they have provided 60 days’ notice and two months break lease fee ($300). 60 days’ notice begins on the day that the fee is received. If the tenant moves out before the end of the 60 days’ notice, the additional days will be accessed as a fee.”

Initial Tenant: ______________
Initial Landlord: ______________

Thanks, 

Frank