Please review your lease to confirm requirements for insurance, and submit a current certificate of insurance to the Property Management Office as evidence of compliance with this portion of your lease. Additionally, any vendor or contractor employed by the tenant to perform labor at the property must be pre-qualified by the management office and submit a certificate of insurance prior to the commencement of work. This includes movers, telephone vendors, computer cable installers, cleaners, furniture assemblers, etc.
Insurance Requirements for Tenants
The certificate must name the following as the certificate holder:
Wacker GP, Inc.
35 East Wacker Drive, Suite 750
Chicago, Illinois 60601
The certificate must name the following as Additional Insured:
John A. Rothschild, Jr., solely in his capacity as Court-appointed receiver
G&E Real Estate Management Services, Inc. dba Newmark Management
Wacker GP, Inc.
If you are going to issue the additional insured on an attachment, please make sure that you note this on the certificate of insurance in the description/other area. Please also include the insured, Policy #, Issue Date of Certificate of Insurance, project #, and project name (if applicable) on the certificate of insurance attachment.
Please mail or email certificates of insurance to the Property Management Office at:
Wacker GP Inc
35 E. Wacker Drive, Suite 750
Chicago, Illinois 60601
Gabby Galloway
Certificates should state the following limits of coverage:
Commercial General Liability Insurance
- Not less than $5,000,000 for any one accident or occurrence
- Portion over $1,000,000 may be provided under an excess liability policy
Commercial Property Insurance
- Covering (i) Tenant’s Property, (ii) Leasehold improvements, and (iii) Premises Systems on a full replacement cost basis in amounts sufficient to prevent tenant from becoming a co-insurer
Business Interruption Insurance
- Minimum limit equal to one year’s Base Rent and Additional Rent
Worker’s Compensation
- Minimum statutory limits as provided by the State of Illinois
Insurance to be obtained from insurance companies that are authorized to do business in the State of Illinois and have an AM Best Rating of at least A+ and a Financial Rating of at least 10
Total Per Occurrence/Accident Limits for Commercial General Liability and Employer’s Liability Insurance may be satisfied by a party with any combination of primary or umbrella liability policies totaling the amount of the required insurance.
Insurance Requirements for Contractors and Vendors
The certificate must name the following as Additional Insured:
John A. Rothschild, Jr., solely in his capacity as Court-appointed receiver
G&E Real Estate Management Services, Inc. dba Newmark Management
Wacker GP, Inc.
If you are going to issue the additional insured on an attachment, please make sure that you note this on the certificate of insurance in the description/other area. Please also include the insured, Policy #, Issue Date of Certificate of Insurance, project #, and project name, if applicable, on the certificate of insurance attachment.
Please mail or email certificates of insurance to the Property Management Office at:
Wacker GP, Inc.
35 E. Wacker Dr.
Suite 750
Chicago, IL 60601
Gabby Galloway
Certificates should state the following limits of coverage:
Commercial General Liability Insurance
- Not less than $5,000,000 for any one accident or occurrence
- Portion over $1,000,000 may be provided under an excess liability policy
Employer’s Liability Insurance
- Not less than $1,000,000 per accident and
- At least $1,000,000 for disease, per each employee
Comprehensive Automobile Liability Insurance
- Covering all owned, hired or non-owned vehicles
- Not less than $2,000,000 per occurrence
- Portion over $1,000,000 may be provided under an excess liability policy
Worker’s Compensation
- Minimum statutory limits as provided by the State of Illinois
Insurance to be obtained from insurance companies that are authorized to do business in the State of Illinois and have an AM Best Rating of at least A and a Financial Rating of at least 10.
Total Per Occurrence/Accident Limits for Commercial General Liability and Employer’s Liability Insurance may be satisfied by a party with any combination of primary or umbrella liability policies totaling the amount of the required insurance.
The General Contractor is responsible for coordinating all insurance certificates for all Subcontractors and Vendors prior to mobilization and before any work will be allowed to commence on site.