Posted on March 29th, 2009 by Olivia
Ridge Property Trust and Champion Realty Advisors LLC are planning an 18-million-square-foot industrial park in the suburbs about 40 miles southwest of Chicago. Ridge has spent the past three years assembling various parcels totaling 1,500 acres from more than 10 land owners. To be known as the RidgePort Logistics Center, the park is expected to [...]
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Posted on March 29th, 2009 by Olivia
EXPERTS SAY STIMULUS PACKAGE WILL BENEFIT COMMERCIAL RE
Lawrence White, professor of economics at New York University, says: “I think the stimulus bill will have a positive effect on the economy, and a positive effect on the economy is going to have a positive effect on commercial real restate.” Job growth is a key [...]
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Posted on March 14th, 2009 by Olivia
Honestly, not so good. Out of 57 markets surveyed by Real Capital Analytics, Chicago ranked 40th.
First came residential decline…and now commercial. We began seeing a fall in commercial real estate sales and an increase in vacancies toward the end of 2007, only to continue through 2008 and the beginning of 2009. When will it steady? [...]
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Posted on March 12th, 2009 by Olivia
New Development in the Last Five Years in Schaumburg:
The Village of Schaumburg has approved over 128 development and redevelopment projects in the last five years. Of these new developments since 2003, Schaumburg has approved:
- 138 Single Family Homes and 321 Multiple Family Homes (8 developments)
- 171,124 sq. ft. of Office (6 developments)
- 716,739 sq. ft. [...]
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Posted on March 12th, 2009 by Olivia
A glimpse and what’s happening with rental rates:
No doubt that most, if not all of us are feeling the repercussions of a falling economy. Residential real estate was the first to feel the effect…and now commercial real estate.
While sales are slow and auctions are on the rise for high-debt and foreclosed properties, there is a [...]
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Posted on March 8th, 2009 by Olivia
Lease Checklist
A few things to keep in mind about your lease:
Do you know your current office space rental rate vs. the current market?
-In other words, are you sure you are not paying too much in rent?
Do you know when your lease expires or the date of your option notification deadline?…
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