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Berkson & Sons, Ltd.
This Offering Web site or written materials is not intended to provide a necessarily accurate summary of the Property's or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Lessees or Purchasers may need or desire. All Leased and financial projections are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Owner and the Agent and therefore may be subject to material and adverse variations. The Offering Memorandum, in our web site does not constitute an indication that there has been no change in the business or affairs of the Property since the date of preparations of the web site An opportunity to inspect the all Property's will be made available to interested and qualified prospective Lessees and Purchases.
HAZARDSOUS MATERIALS DISCLOSURE
Various construction material may contain items that have been or may in the future be determined to be hazardous (toxic) or undesirable and as such may need to be specifically treated, handled or removed. For example, some transformers and other electrical components contain PCB's, and asbestos has been used in components such as fire-proofing, heating and cooling systems, air duct insulation, spray-on and tile acoustical materials, linoleum, floor tiles, roofing, dry wall and plaster. Due to prior or current uses of the Property or the area, there may be hazardous or undesirable metals, minerals, chemicals, hydrocarbons or biological or radioactive items (including electric and magnetic fields) in soils, water, building components, above or below ground containers or elsewhere in areas that may or may not be accessible or noticeable. Such items may leak or otherwise be released. Real estate agents have no expertise in the detection or correction of hazardous or undesirable items. Expert inspections are necessary. Current or future laws may require clean up by past, present and/or future owners and/or operators. It is the responsibility of the Buyer to retain qualified experts to detect and correct such matters and to consult with legal counsel of their choice to determine what provisions, if any, they may wish to include in transaction documents regarding the Property.
AMERICAN WITH DISABILITIES ACT
The United States Congress has recently enacted the Americans with Disabilities Act. Among other things, this act is intended to make many business establishments equally accessible to persons with variety of disabilities. As such, modifications to real property may be required. Federal, state and local laws, codes and regulations also may mandate changes. The real estate brokers in this transaction are not qualified to advise you as to what, if any, changes may be required now, or in the future. Owners and Tenants should consult their attorneys and qualified design professionals of their choice for information regarding these matters. Real estate brokers cannot determine which attorneys or design professionals have the appropriate expertise in the this area.
STATE OF ILLINOIS DUAL AGENCY DISCLOSURE
The State of Illinois has enacted regulations relative to disclosure of representation. In all transactions relative to the Property, Berkson & Sons LTD, is representing the Owner. However, in any situation where there is not a cooperating broker representing the Lessee or Purchaser, Berkson & Sons LTD. is deemed to also be representing the Lessee or Purchaser.
Representing more than one party to a transaction presents a conflict of interest since both clients may relay upon the Licensee's/Agent's advice and the client's respective interest may be adverse to each other. Licensee/Agent will undertake this representation only with the written consent of ALL clients in the transaction.
Any agreement between the clients as to a final lease price or contract price and other terms is a result of negotiations between the clients acting in their own best interest and on their own behalf. Seller hereby acknowledges that Licensee/Agent has explained the implications of dual representation, including the risks involved, and understand that you have been advised to seek independent advice from your advisors or attorneys before signing any documents in this transaction.
WHAT A LICENSEE / AGENT CAN DO FOR CLIENTS WHEN ACTING AS A DUAL AGENT:
- Treat all clients honestly;
- Provide information about the Property's to the Lessee or Buyer;;
- Disclose all latent material defects tin the Property that are known to Licensee/Agent;
- Disclose financial qualifications of the Lessees or Buyer to the Lessor or Seller;
- Explain real estate terms;
- Help the Lessee or Buyer to arrange for Property inspections;
- Explain closing costs and procedures;
- Help the Lessee or Buyer compare financing alternatives;
- Provide information about comparable properties that have sold, so both clients may make educated decisions on what price to accept or offer.
WHAT A LICENSEE / AGENT CANNOT DISCLOSE TO CLIENTS WHEN ACTING AS A DUAL AGENT:
- Confidential information that Licensee/Agent may know about the clients, without that client's permission;
- The price the Lessor or Seller will take other than the listing price without the permission of the Lessor or Seller;
- The price the Lessee or Buyer is willing to pay without the permission of the Lessee or Buyer;
- A recommended or suggested price the Lessee or Buyer should offer;
- A recommended or suggested price the Lessor or Seller should counter with or accept.
If either client is uncomfortable with this disclosure and dual representation, please let the Licensee/Agent know. You are not required to sign this document unless you want to allow the Licensee to proceed as a Dual Agent in this transaction. By initiating below, you acknowledge that you have read and understand this form and voluntarily consent to the Licensee/Agent acting as Dual Agent, should that become necessary.