Domestic Violence Legal Center – 17 N. State
Challenge
Domestic Violence Legal Clinic desired to open an office in the Central Business District to complement its offices at the Domestic Violence Courthouse at 555 W. Harrison St. However, it needed first to receive funding from either of two grant proposals. There was a very brief period after funding during which the funds had to be utilized. That necessitated identifying appropriate spaces and negotiating those transactions in anticipation of the funding coming through.
Action
MAP Real Estate had been referred to DVLC by The Family Defense Center, a longtime MAP client. MAP undertook market research to identify multiple direct lease and sublease alternatives within the Central Business District target area, resulting in a shortlist of multiple qualified alternative spaces. MAP then conducted simultaneous negotiations with the best of those alternatives, maximizing DVLC’s negotiating leverage, pending announcement of the success of its grant applications. In the interim, MAP continued to evaluate new alternatives, as they came to market.
A sublease opportunity was identified that afforded the ability to take occupancy, as quickly as needed, once funding was in place. This sublease was fully furnished, in prime condition, and with views of Lake Michigan and the south loop. Virtually no modifications were needed to provide DVLC’s ideal layout. The cost was significantly discounted because it was a sublease, in spite of its relatively long remaining term.
Result
When the success of the grant applications was certain, the sublease, which by then had already been approved by the owner of 17 N. State and the sublease document negotiated with the Sublessor, DVLC executed the sublease and the minor modifications were completed by a contractor that had been brought in by MAP. The move-in was exactly as desired. DVLC moved into space that was beyond its expectations, under remarkably favorable economic terms and with remarkable views.
Testimonial
Because of a funding deadline we needed to add new office space quickly. MAP helped us line up and evaluate alternatives. We met our deadline and found a beautiful functional space in our price range. Thanks, Michael!
Margaret Duval, Executive Director – Domestic Violence Legal Clinic