Lease expires in 30 days. We had a verbal agreement to stay. Is a verbal lease agreement binding in Illinois? He wants me out.

Never enter an oral agreement (what people incorrectly term a verbal agreement). While an oral contract may be binding, oral contracts are, as the saying goes, not worth the paper their written on. If something matters than it should be provided in a written agreement. Moreover, an oral agreement may not be binding regarding real property (including leases on real property) because that normally must be in writing under the statute of frauds. This rule varies by state and circumstance.

There may be a possibility to make claims under a theory of promissory estoppel or maybe misrepresentation depending on the facts and your state law. These claims, however, are not easy and would require a close review of the facts and all relevant documents.

I would strongly recommend that you contact a local real estate attorney to consider options. Even assuming you have a claim, this may be costly, time-consuming and difficult. Good luck.

DISCLAIMER—This answer is for informational purposes only and discusses legal principles, trends, and considerations and is not intended to be used as specific legal advice in any way, shape or form. This answer does not establish an attorney client relationship. For legal advice, you should obtain legal counsel in your jurisdiction for advice regarding your unique circumstances.

I agree with my colleague, oral (verbal) agreements are not binding, particularly when dealing with real estate matters. However, I would look to your lease and see if you have any additional rights that you have not yet explored. Commercial lease typically have a "hold over" provision that allows you to remain past your lease termination date, but generally at a very high rental rate (usually 2x your normal rent). If you still cannot come to an agreement, you may explore your rights that you relied on his oral agreement to extend the lease and bought equipment.

This answer is for informational purposes only and is not intended to be legal advice nor does it establish an attorney-client relationship. Please contact me to discuss further. Otherwise, you need to consult a local commercial real estate lawyer to obtain legal advice that is tailored to your circumstances and facts. Good luck to you.