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Illinois Commercial Real Estate Purchase and Sale Agreement

An Illinois commercial real estate purchase and sale agreement contains the key terms and conditions of a commercial property transaction. It includes the sale price, property location and condition, inclusions, and exclusions of the premises, the rights, obligations, and liabilities of the parties, and the buyer's contingencies.
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Disclosures

Consumers’ Guide to Real Estate Agency in Illinois – This pamphlet includes a section for establishing Designated Agency Disclosure between an agent and their client.[1]

Notice of No Agency – Used by an agent who is representing one party (for example the “seller”) in a real estate transaction in a situation where the other party (“buyer”) does not want to use their own agent. This discloses that the seller’s agent does not represent the buyer but is assisting in achieving a successful transaction.

Dual Agency Disclosure – Discloses that agency may represent more than one party to the transaction; requires the consent of parties.[2]