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9
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Bassim Audi
  • Chicago, IL
4
Votes |
9
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Buying a property with an existing service lease

Bassim Audi
  • Chicago, IL
Posted

Hello! and thank you in advance for any thoughts. I will try to keep this brief. 

I have recently purchased an 8-unit property (Jan. 6th), today I was contacted by an account manager from Jetz Laundry service. The previous Owner was utilizing them for on-site laundry. The account manager is telling me that the current lease is still in effect and I am bound by it. After much back and forth he finally sent me the lease in question and it is from 1990 and renews every 10 years for 10 years. The overall interaction feels like he is trying to push me into agreeing to this and that I have no recourse otherwise. There has been new owners since 1990 but no updated agreement. 

I understand any response to this is not official legal advice, and any thoughts or input from experience or general knowledge of these things would be greatly appreciated in this matter. 

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