UPDATE Sept. 9, 2014 / During the monthly meeting of IndieBound Naperville, IBN member and attorney Chuck Corrigan provided insights and a legal perspective from his more than 25 years of experiences as well as some of the basics of common retail lease issues.
Corrigan’s enlightening presentation included sage advice such as being acquainted with the premises prior to signing any lease. Is the description of the location adequate? How is the square footage measured? What are the expectations prior to taking possession? Is there a clear definition of landlord vs. tenant responsibilities?
Among many important considerations Corrigan addressed was the retail tenant in a shopping destination with an anchor store, much like many shopping centers in Naperville. Noting that large supermarkets or office supply stores that close can impact greatly the foot traffic to any type of small business, he advised independent owners to be mindful of that possibility when considering any new location. What are the termination or rent abatement rights if the anchor tenant leaves or “goes dark”?
IndieBound Naperville is a grassroots group of independent business owners and managers that meet to educate each other, link their local energies and share business practices. In the past, the eclectic group has addressed marketing, social media, community service, financing and loans available to small businesses, customer appreciation/discounts, to name a few topics; and also participated in promotions such as Where’s Waldo and Grow Your Heart with the Grinch, thanks for Anderson’s Bookshop.
Meetings typically are held at 6PM on the first Monday of the month at Kreger’s Brat and Sausage Haus where different business owners and managers take turns providing refreshments and beverages. In September, refreshments were provided by Tim Penick of Positively Naperville and Ashley Penick of Heaven on Seven with beverages from Kim Coyne of Naperville Bank & Trust.
IndieBound loves the Jaycees Labor Day Parade!
The reason IndieBound Naperville met a week later than usual in September was that Labor Day fell on the first Monday. That day, many IBN members walked alongside the Positively Naperville parade entry in the Jaycees Labor Day Parade. This year The Growing Place pulled the hay wagon that carried The Pete Ellman Big Band and its lively music. Led by Anderson’s Bookshop and a cast of novel characters, representatives followed from First Community Financial Bank Naperville, Kreger’s Brat and Sausage Haus, Ellman’s Music Center, The Boxes in Cress Creek Shopping Center and Lou Malnati’s Pizza, marching to showcase independents.
For a list of IndieBound Naperville members, visit www.indieboundnaperville.org.
Original September Post / The next monthly meeting of IndieBound Naperville, a group of independent business owners and managers, will meet at 6PM Mon., Sept. 8, at Kreger’s Brat and Sausage Haus.
Member Chuck Corrigan, an attorney with Dommermuth, Cobine, West, Gensler, Philipchuck, Corrigan & Bernhard, Ltd., will begin the group’s discussion regarding legal issues and business. The focus for September will be “Common Lease Issues.”
Since October 2008, members have met monthly to share common practices, challenges and issues that face small independent businesses as they strive to contribute to the culture of the community. Members have suggested ideas for future topics could include trademarking, health insurance, employee and employer rights, etc.
For more information about IndieBound Naperville, visit www.indieboundnaperville.org where current members are listed.
