2025-0119
Meridian Senior Living LLC — commercial lease renewal, 220 S Michigan Ave
OpenLandlord/Tenant·Meridian Senior Living LLC·Opened May 14, 2026
Background
Renewal of a 14,000 sq ft office lease. Renewal option exercised. Negotiating base rent escalations, the operating expense stop and a one-time termination right.
File note
Landlord has agreed to the renewal in principle. Open points are the CAM cap and the termination fee formula.
Key dates
2 recorded| Date | Event | Type | Due |
|---|---|---|---|
| Sep 26, 2026 | Term sheet to be agreed | Review | in 6 days |
| Oct 07, 2026 | Renewal option exercise deadline under the lease Written notice must be delivered by this date. There is no cure provision — the option simply lapses. | Limitation | in 2 weeks |
Tasks
2 open · 0 completed| Task | Assigned | Due | Priority | Status | |
|---|---|---|---|---|---|
Send interim invoice to client | AK | 5 days overdue | Medium | Not started | |
Deliver written notice exercising renewal option No cure provision in the lease. Miss it and the option lapses. | AK | in 6 days | High | Not started |
Time recorded
9.1 hrs total · 9.1 hrs billable · $2,684.50| Date | Timekeeper | Narrative | Activity | Units | Value | Billed |
|---|---|---|---|---|---|---|
| Sep 16, 2026 | AK | Conference with client regarding termination right | Correspondence in | 15 · 1.5 hrs | $442.50 | WIP |
| Aug 26, 2026 | AK | Drafting notice exercising the renewal option | Research | 10 · 1.0 hr | $295.00 | WIP |
| Aug 21, 2026 | AK | Conference with client regarding termination right | Research | 8 · 0.8 hrs | $236.00 | WIP |
| Aug 04, 2026 | AK | Analyzing CAM reconciliation history | Conference | 2 · 0.2 hrs | $59.00 | WIP |
| Aug 03, 2026 | AK | Drafting notice exercising the renewal option | Conference | 8 · 0.8 hrs | $236.00 | WIP |
| Jun 25, 2026 | AK | Preparing revised lease amendment and issues list | Court appearance | 12 · 1.2 hrs | $354.00 | WIP |
| Jun 22, 2026 | AK | Reviewing landlord counterproposal on operating expenses | Court appearance | 15 · 1.5 hrs | $442.50 | WIP |
| Jun 19, 2026 | AK | Analyzing CAM reconciliation history | Correspondence in | 3 · 0.3 hrs | $88.50 | WIP |
| Jun 01, 2026 | AK | Preparing revised lease amendment and issues list | Deposition | 10 · 1.0 hr | $295.00 | WIP |
| May 25, 2026 | AK | Drafting notice exercising the renewal option | Conference | 8 · 0.8 hrs | $236.00 | WIP |
Advanced costs
Money paid out on the client behalf, billed at costNo disbursements incurred.
Documents
5 on file| Document | Type | Ver. | Filed by | Filed | Size | |
|---|---|---|---|---|---|---|
| CAM reconciliation history.xlsx | Evidence | v1 | AK | Sep 15, 2026 | 3.7 MB | Download |
| Notice exercising renewal option.pdf | Correspondence out | v1 | AK | Aug 10, 2026 | 2.3 MB | Download |
| Engagement letter.pdf | Engagement letter | v1 | AK | Jul 30, 2026 | 1.8 MB | Download |
| Existing lease dated 09.03.2016.pdf | Contract | v1 | AK | Jun 18, 2026 | 655 KB | Download |
| Draft lease amendment (v3).docx | Contract | v4 | AK | Jun 18, 2026 | 2.5 MB | Download |
Bills
| Bill | Issued | Due | Fees | Disb. | Total | Outstanding | Status |
|---|---|---|---|---|---|---|---|
| INV-2025-0481 | Jul 29, 2026 | Aug 28, 2026 | $7,400.00 | $0.00 | $7,400.00 | $7,400.00 | Overdue |