Asbestos and Its Financial Impacts on Your Commercial Property: Insights from an Asbestos Removal Company in Long Grove, Illinois

Written by :- Axis Response Group

November 24, 2023

Asbestos removal company in Long Grove IllinoisIf you own a commercial building that is several decades old, the threat of asbestos is not something you’ll want to take lightly. Asbestos can be hiding in your commercial building in plain sight, or it can be tucked away in nooks and crannies you might not think to check. Regardless, it is something you’ll want to be aware of.

Below, this asbestos removal company in Long Grove, Illinois is going to discuss the financial impact that asbestos can have on your property and business.

Where Does Asbestos Commonly Hide in Commercial Buildings?

If you own a commercial building in Long Grove that was built before the ’90s, there is a chance that it might contain some asbestos. This naturally occurring fibrous silicate mineral is often found in older roofing, pipe insulation, floor tiles, and behind electrical boards.

The tricky thing is that you cannot always spot asbestos with a simple look-over, which is why it’s a good idea to keep an asbestos register if you own an older building. This detailed log can pinpoint areas where asbestos might be within the building, which will help your asbestos removal company in Long Grove, Illinois manage it responsibly.

The Financial Impacts of Asbestos on Your Commercial Property

Asbestos Can Lower Your Property Value

Asbestos was once a popular building material because of its fire- and corrosion-resistant properties. However, it is now recognized as a health hazard. When asbestos-containing materials (ACMs) are found in a building, this can greatly reduce a property’s appeal to buyers.

Buyers might not want to buy your commercial building with asbestos because of its potential health risks and the costs associated with asbestos removal. Or they might offer you less money because they must consider the cost of making the building safe. The more asbestos there is, and the more complicated and expensive it is to remove, the less your property might be worth.

You May Have to Pay Higher Premiums

Owning a commercial building with asbestos can also lead to higher insurance costs. Insurance companies are aware of the risks associated with asbestos, including the possibility of someone getting sick due to asbestos exposure and the costly lawsuits that could follow.

So, if your commercial building is known to contain ACMs, it’s important to be aware that you will face higher insurance premiums to cover these extra risks.

Why Is It Important to Work with an Asbestos Removal Expert?

With these financial risks in mind, if your commercial property contains asbestos, it’s best to have it removed. You’ll want to work with a professional asbestos removal company in Long Grove, Illinois that has the knowledge and experience to safely remove all traces of asbestos from your property.

By having your asbestos removed by the professionals, you can mitigate the negative effects of asbestos on your property value, keep your insurance rates in check, and avoid the high prices and risks that come with doing it yourself or hiring unqualified people. Plus, a professional team will handle asbestos safely, ensuring compliance with health regulations and keeping you clear of legal issues.

Looking for an Asbestos Removal Company in Long Grove, Illinois?

If you believe your commercial building contains potentially dangerous ACMs, it’s essential to partner with a reputable asbestos removal company in Long Grove, Illinois that can safely remove it. That’s where we can help.

At Axis Response Group, our licensed asbestos inspectors can thoroughly test and inspect your building for any signs of asbestos. If asbestos is found during testing, we can safely remove and dispose of it to ensure it does not become a hazard. Contact us today at (773) 427-6811 to schedule an inspection.